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 …
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 …
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 …
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
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
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
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
Shares in Russian payment service provider QIWI have reached $23.50, their highest price since they were launched in a Nasdaq IPO at the start of May. The company’s shares did not immediately fare so well after they went on sale at $17, falling as low as $15.62 on the 29th of May. However, they rebounded on 4th June when …
Qiwi’s high net profit triggers sharp increase in stock price Read More
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
In what may seem like a commonplace feature in many countries but represents a pioneering move in Russia, leading dating service Mamba has introduced an Amazon-like one-click payment method, making the recurring use of its service easier. Once a user’s bank card is registered for a first-time payment, subsequent payments are pre-authorized based on information …
Online dating service Mamba introduces one-click payments Read More
As Russia’s banking sector seeks new, customer-focused strategies to win over clients in an increasingly competitive market, Russian startups are close at hand and ready to support such strategies with an array of advanced IT solutions. In St. Petersburg on May 31st, eighteen startups, all residents of the Ingria business incubator, made a series of …
St. Petersburg startups pitch customer-oriented solutions for bankers Read More
It’s easy to make a variety of instant payments for a variety of services ranging from a post-paid mobile bill to cable television subscription fees, thanks to a successful Russian company that set up base in India’s national capital region in the beginning of 2011. The Indian franchising partner of Qiwi, Russia’s biggest instant payment …
