Fintech

QIWI President Boris Kim: “We target cash-based markets across the globe where consumers need convenient alternatives.”

October 1, 2013

Initially a network of cash collection machines, through which Russians pay for virtually everything from mobile phone bills, to online purchases, to fines, QIWI is now an international, NASDAQ-listed, multichannel payment operator working in close partnership with Visa. QIWI President Boris Kim shared with East-West Digital News his vision of the payment industry, which knows …

QIWI President Boris Kim: “We target cash-based markets across the globe where consumers need convenient alternatives.” Read More

PayPal launches in Russia while Russian e-currencies go global

July 6, 2015

Yesterday PayPal became available to Russian users for domestic operations with the ruble as its 26th currency. The international payment company started serving Russian users in 2006. So far, however, Russians could only use PayPal on foreign sites and via other currencies. Furthermore, they could not withdraw their money from PayPal account to Russian banks.

US game publisher Valve expands cash payment network throughout Russia and neighboring countries

September 18, 2013

Valve, the creators of a number of best-selling games, has selected Payelp Global, a subsidiary of St. Petersburg-based payment aggregator and solution provider Dengi Online, to help gamers from Russia and neighboring countries make purchases on game platform Steam. As cash is the primary method of payment in Russia and CIS countries, consumers use cash-in kiosks …

US game publisher Valve expands cash payment network throughout Russia and neighboring countries Read More

Moscow startup Goodwin turns magazines, TV screens, and subway advertisements into supports for mobile commerce

September 9, 2013

While Russian retailers are experimenting increasingly with multichannel approaches, Goodwin, a Moscow-based startup that has just secured seed investment, is introducing a pioneering mobile commerce project. Inspired by the Amazon Flow concept, Goodwin lets smartphone owners buy products from “virtual storefronts” – which can be almost anything from an article in a magazine, to a …

Moscow startup Goodwin turns magazines, TV screens, and subway advertisements into supports for mobile commerce Read More

Leading international conference to highlight thriving bank card and payment industries in Russia and neighboring countries

September 5, 2013

On September 26-27 in Moscow, the Association of Regional Banks of Russia (ASROS) and Finance Media will organize the 8th annual “Bank Cards and Payment Technologies 2013” conference in partnership with East-West Digital News. For the past seven years, the conference has asserted itself as a leading event on the bank card business and non-cash payment …

Leading international conference to highlight thriving bank card and payment industries in Russia and neighboring countries Read More

Russia’s Life.SREDA invests in US startup to build “world’s first cardless bank”

November 19, 2014

The Russian venture fund Life.SREDA revealed last week a $2 million investment in Moven, a three-year-old New York-based banking startup. Moven’s CEO and founder Brett King hopes that the deal, which took place in July, will help his company further upgrade what he calls a “world-class mobile solution to the problem of the next-generation bank account.” In an …

Russia’s Life.SREDA invests in US startup to build “world’s first cardless bank” Read More

PayPal to integrate rubles as its 26th currency

August 28, 2013

Earlier this month Vladimir Malugin, PayPal’s regional director for Russia, announced the addition of the ruble as an official PayPal currency. Starting from mid-September Russian users of PayPal will thus be able to pay for purchases in stores, accept payments, transfer money to other users’ accounts, and withdraw money from bank accounts in the Russian national currency. …

PayPal to integrate rubles as its 26th currency Read More

Russian software developer to help Palestine introduce electronic money

November 19, 2014

BPC Banking Technologies, a software-developing multinational headquartered in Russia, has been contracted to help the Palestinian administration deliver on its ambitious plan for the creation of a  national payment system and the eventual adoption of a national currency. Last month, the Russian company won a tender organized by the Palestine Monetary Authority (PMA), the most …

Russian software developer to help Palestine introduce electronic money Read More

Candy magnate Korkunov invests in mobile app community expecting mobile banking revolution

July 19, 2013

Andrey Korkunov, the founder of a leading candy company, has invested $1 million in Apps4all in exchange for a 15% stake, the Russian business daily Vedmosti reported yesterday. Launched in 2011, Apps4all brings together a community of mobile app developers with a variety of media, event, training, research, and advertising activities. The startup – which …

Candy magnate Korkunov invests in mobile app community expecting mobile banking revolution Read More

California’s Sequent raises $12 million from Russian and US funds for mobile wallet tech

July 11, 2013

In a new illustration of the internationalization of Russia’s venture capital, SBT Venture Capital, the venture arm of the national savings bank Sberbank, has led a $12 million round to fund Sequent Software, a California-based provider of trusted service manager (TSM) and mobile commerce software and services. Sequent’s existing US investors Opus Capital and Jado …

California’s Sequent raises $12 million from Russian and US funds for mobile wallet tech Read More

VimpelCom makes new move on Russia’s NFC ‘chessboard’

November 19, 2014

VimpelCom, a leading Russian mobile operator, has announced the next step in its endeavor to combine the mobile phone and the e-wallet. In an attempt to catch up with MTS and MegaFon, the other mobile players who comprise Russia’s “Big Three,” VimpelCom has pooled efforts with Alfa-Bank and MasterCard to  test a Near Field Communication (NFC) …

VimpelCom makes new move on Russia’s NFC ‘chessboard’ Read More

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