E-Payment

Huawei Pay launches in Russia, second country after China

December 27, 2018

After similar moves by Apple, Samsung  and Google in 2016-17 and WeChat just weeks ago, Huawei announced last week the launch of its contactless payment service in Russia. Huawei Pay defines itself as “a mobile payment and digital wallet service that digitizes and can replace a credit or debit card” at contactless-capable payment terminals. The service is accessible only via …

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How Sberbank has transformed itself from ‘babushka bank’ to digital banking giant

December 21, 2018

In this op-ed Anna Kuzmina, a figure of the Russian payment industry, highlights the importance of Sberbank in Russians’ everyday life, and the implications of this bank’s digital transformation. Mrs Kuzmina is Deputy Chief Commercial Officer at Yandex.Money, a joint venture of Sberbank and Yandex.  In just a few years Sberbank, Russia’s state-controlled banking giant, has …

How Sberbank has transformed itself from ‘babushka bank’ to digital banking giant Read More

Yandex.Money adopts US personal finance management solution to “help people live smarter”

December 10, 2018

Yandex.Money’s 46 million users may now enjoy personalized analysis and advice to optimize their expenses and savings. The Russian e-payment company has integrated to its e-wallet mobile app a personalized financial management (PFM) service provided by American Moven Enterprise. This real-time application uses artificial intelligence to provide people with a “financial wellness” experience and “help …

Yandex.Money adopts US personal finance management solution to “help people live smarter” Read More

AbeBooks closes bookseller accounts in Russia and three other countries due to cross-border payment issues

November 9, 2018

Last month AbeBooks, an online book retailer founded in 1995 (acquired by Amazon in 2008), announced its intention to close bookseller accounts in Czechia, Hungary, South Korea and Russia, starting from Nov. 30. Activities in these countries are “no longer viable to operate due to increasing costs and complexities,” AbeBooks stated.  AbeBooks’ service will continue in …

AbeBooks closes bookseller accounts in Russia and three other countries due to cross-border payment issues Read More

Russian companies can now receive B2B payments online in minutes

October 29, 2018

In what is perhaps a world’s first, Yandex.Checkout, the B2B branch of Yandex.Money, and Sberbank, the number one banking institution in Russia, have launched “B2B Payments,” a service intended for companies to accept online payments from corporate clients as easily as from individuals. The service (which can be activated only via Yandex.Checkout) automates invoice generation and makes online …

Russian companies can now receive B2B payments online in minutes Read More

Yandex.Money launches advanced mobile payment services for e-merchants

July 25, 2018

Earlier this month Yandex.Checkout, the B2B branch of Yandex.Money, announced an update of its mobile software development kit (SDK). This SDK – an open-source software licensed by Massachusetts Institute of Technology (MIT) – already allowed e-merchants with a mobile app to accept payments with bank cards and e-wallets. It now includes mobile payments via Apple Pay, Google Pay, and Sberbank Online Mobile Bank. The …

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Sberbank customers can now transfer money using just a mobile number

July 15, 2018

Tinkoff Bank, a pioneer in P2P money transfers using a mobile number, has made available this service to Sberbank customers – expanding its potential audience to millions of customers of Russia’s leading savings bank. This service, which Tinkoff describes as being one of its most popular payment methods, will be made available to all Sberbank customers …

Sberbank customers can now transfer money using just a mobile number Read More

The birth of a market: Mail.Ru Group now accepts bitcoin payments for ads, several startups in the running

March 12, 2018

Earlier this week Mail.Ru Group, an LSE-listed leading Russian Internet company, announced that its ad platform myTarget began accepting Bitcoin (BTC) and Bitcoin cash (BCH) as payment means for running ads on the group’s properties. These properties include Russia’s top social networks Vkontakte (VK) and Onoklassniki (OK) as well as two dozens of online resources …

The birth of a market: Mail.Ru Group now accepts bitcoin payments for ads, several startups in the running Read More

Mastercard to support gambling market in Russia

February 7, 2018

Russian punters will soon be able to receive their betting wins online through the Mastercard payment network. The news was reported last week by Betting Business Russia, citing Mastercard. The international operator announced that it will soon make possible domestic transactions in this field in Russia, as is already the case in a range of other countries. These …

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Russia suffers holiday retail nightmare as cash registers crash

December 21, 2017

Since this past July, Russian retailers have been required to use internet-connected registers which transmit sales data to the authorities to improve tax collection. But retailers were left counting the cost of a holiday-season glitch that may have caused billions of rubles in lost sales after the failure of some of these registers. “A retail nightmare came …

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Campbell Bethwaite of Redstone Capital: “Russian financial services, in terms of functionality and speed, are better than in many other markets”

December 5, 2017

Fintech is exploding in Russia, albeit from a very low base. bne IntelliNews editor-in-chief Ben Aris sat down with Campbell Bethwaite, the managing partner of Redstone Capital (recently renamed from Finteca) to talk about the sector and its prospects. Redstone is a holding company that has set up a number of fintech businesses in Russia that are seeing exponential …

Campbell Bethwaite of Redstone Capital: “Russian financial services, in terms of functionality and speed, are better than in many other markets” Read More

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