E-commerce in Russia
The reports covers: Main market trends Shoppers Merchants Emerging models Payment issues
Fintech
Qiwi discontinues e-currency replenishment service
Qiwi’s offline and online payment systems can no longer be used to replenish the accounts of a dozen Russian electronic currencies, as of March 15. The affected e-currencies include Yandex.Dengi – one of the two leading Russian e-currencies; MoneyMail – the e-currency of Mail.ru, a leading web portal; and a range of minor e-currencies.
Only 5% of Russian cardholders use banking cards for online purchases
According to the Public Opinion Foundation (FOM), a leading Russian poll institute, 40% of Russian citizens (46.2 million) hold one or more bank cards, but only 5% of them use their cards for online payments. Among active cardholders the number rises to 18%.
Leading social network users offers personalized credit card
Tinkoff Credit System, a Russian bank specializing in consumer credit, and Odnoklassniki.ru, a leading Russian social networking site, have launched a social application allowing users to apply for co-branded credit cards.
Yandex.Dengi offers banking card integration for online payments
Yandex.Dengi, a leading Russian electronic currency operator, announced yesterday that users can now register their banking cards to make online purchases using Yandex.Dengi.
Yandex.Dengi connected to Russian national savings bank
Yandex.Dengi, a leading Russian electronic currency system, has announced the launch of cooperation with Sberbank, Russia’s national savings bank. Starting February 21, Yandex.Dengi accounts can be refilled at any Sberbank ATM located in Moscow and the Moscow region. The service will be available throughout Russia by the end of the year. Yandex.Dengi account holders will …
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Qiwi and Visa experiment with online transfer to card account
Qiwi and Visa issued a joint statement yesterday announcing the successful transfer of funds from a Qiwi online wallet (“Qiwi Koshelek”) located in Russia to a Visa card account at a Ukrainian bank.
MTS launches online payment system
MTS, a leading Russian mobile operator, has launched an online payment system allowing MasterCard and Visa cardholders to pay for hundreds of services both related and unrelated to their MTS mobile accounts.
Japanese corporation buys stake in Russian Qiwi payment system; US expansion considered
Japanese holding company Mitsui & Co. has bought a 15% share in Qiwi, Russia’s leading operator of offline electronic payment terminals. Existing shareholders Mail.ru Group, the operations branch of DST investment, and Qiwi management both sold shares to complete the deal and now hold 21.4% and 63.7% respectively. No official information on the value of …
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