Banking technologies

CardsMobile secures $2.5 million from LANIT as NFC takes off in Russia

June 16, 2016

Russian IT firm LANIT has invested $2,5 million in CardsMobile, a developer of contactless payment solutions, in exchange for a 28.6% stake, Russian business daily Vedomosti reported last week. Thus, the company has been valued at $8,7 million. CardsMobile has developed a platform for NFC payments as well as a mobile application, christened ‘Wallet’ (‘koshelek’ in …

CardsMobile secures $2.5 million from LANIT as NFC takes off in Russia Read More

Russia’s central bank seeks active involvement in fintech developments

June 3, 2016

Over the past few months Russia’s Central Bank has made several steps to track and get involved in the developments of financial technologies. In February, the bank created a working group to implement fintech innovation in cooperation with market players. Among the fields of investigation of this working group are Blockchain technologies and the way …

Russia’s central bank seeks active involvement in fintech developments Read More

Sberbank’s CEO blasts proposed bitcoin ban

October 3, 2016

Russia’s proposed bitcoin ban will hinder blockchain technology’s development in the Russian Federation, according to German Gref, chairman of the board at Sberbank, Russia’s national savings bank, and former economic development minister, speaking at the Skolkovo business school Saturday, according to Lenta.ru, a Moscow-based news site. Gref said blockchain is a new web technology comparable …

Sberbank’s CEO blasts proposed bitcoin ban Read More

Life.Sreda launches international fund to help banks invest in blockchain startups

July 5, 2016

Life.Sreda, a Singapore-based venture fund with Russian origins, is launching a new venture fund dedicated to investing in the blockchain ecosystem. Christened ‘Banking on Blockchain Fund,’ or ‘BB Fund,’ the new fund will provide start-up capital for early stage blockchain companies that have use cases relevant to banks. Starting with an initial capital infusion of $5 …

Life.Sreda launches international fund to help banks invest in blockchain startups Read More

Alisher Usmanov invests in InPlat to create new payment ecosystem in Russia

May 10, 2016

Russian billionnaire Alisher Usmanov has invested in a Russian PSP named ‘InPlat‘ via structures affiliated to his holding company USM, acquiring a 35% stake previously owned by investment fund Supremum Capital. The transaction, which took place in December 2015, was revealed last week by Russian tech blog Firrma.ru, which referred to an unnamed source from Supremum …

Alisher Usmanov invests in InPlat to create new payment ecosystem in Russia Read More

Touch Bank CEO Andrei Kozliar on how to create a digital-only bank in Russia

May 2, 2016

Touch Bank, a digital-only bank launched last year in Russia, already claims 70,000 clients across the country, with the customer base growing at an average rate of 10,000 new customers a month. While initial launch products for the Russian market were credit card, cash loan, deposit account, and current account, as well as a cash-back loyalty program, the bank has gradually started …

Touch Bank CEO Andrei Kozliar on how to create a digital-only bank in Russia Read More

Russian mobile banking in transition: Instabank shuts down, Rocketbank acquired by Otkrytie

April 21, 2016

Earlier this month Otkrytie, a major Russian bank, announced that it was in the process of fully acquiring mobile banking startup Rocketbank. The move follows a strategic partnership inked in December 2015. “This partnership has already allowed Rocketbank to attract customers more efficiently, thanks to our strong brand, and accelerate the development of its product. On the …

Russian mobile banking in transition: Instabank shuts down, Rocketbank acquired by Otkrytie Read More

Megafon shuts down mobile payment platform

March 14, 2016

Megafon, a leading Russian mobile operator, has shut down its mobile payment platform ‘Megafon Money.’ This service will be replaced by Visa Qiwi Wallet — the electronic wallet offered by payment operator Qiwi in partnership with Visa — “with additional specific Megaton features,” Russian business daily Vedomosti reported yesterday. The service has been judged redundant …

Megafon shuts down mobile payment platform Read More

Russian billionaire Oleg Boyko buys into German online lending startup

February 16, 2016

Russian billionaire Oleg Boyko’s private-equity company bought a stake in Germany’s Spotcap as the online lender backed by Rocket Internet SE secured its biggest financing to date. Spotcap raised 31.5 million euros ($34 million) from Boyko’s Finstar Financial Group and existing investor Holtzbrinck Ventures, Chief Executive Officer Toby Triebel said by phone. Spotcap lends to small and medium-sized …

Russian billionaire Oleg Boyko buys into German online lending startup Read More

Russian breakthrough in quantum technology can protect banks from hackers

February 7, 2016

Until recently quantum networks were considered invulnerable to hacker attacks. Quantum connections have been used to protect data for a long time, but they work only at short distances, approximately 100 kilometers (60 miles). Furthermore, such connections are rather fragile and face problems shortly after they start functioning. Physicists at the Russian Quantum Center, however, …

Russian breakthrough in quantum technology can protect banks from hackers Read More

Will Fintech become a buzzword du jour in Russia?

February 9, 2016

Global investment in fintech ventures tripled to $12,21 billion in 2014, confirming the sector to be a hot ticket for everyone thinking about becoming a “unicorn” enterprise, making a breakthrough in technologies or changing consumer experience. A new startup field boomed 5-7 years ago in the USA is gradually building its momentum in Russia. A confusing …

Will Fintech become a buzzword du jour in Russia? Read More

Russian National Payment System agrees co-badged card issuance with American Express, JCB, Mastercard

October 22, 2015

Over the past few weeks Russian National Payment Card System (NPCS) reached agreements with American Express, Mastercard and Japan’s JCB about the issuance of co-badged cards. Announced in June at the St. Petersburg Economic Forum, the agreement with Mastercard came as the first international co-badged card project for Russia’s young national payment system. Similar agreements were announced in early July with …

Russian National Payment System agrees co-badged card issuance with American Express, JCB, Mastercard Read More

Scroll to Top

This site is under maintenance. Sorry for the inconvenience.

This site is under maintenance. Sorry for the inconvenience.