Payment & banking technologies

i-Free, Tinkoff Credit Systems Bank and MasterCard launch NFC wallet in Russia and CIS

June 3, 2013 June 3, 2013

Moscow, Russia – i-Free is introducing the first full-featured NFC wallet in Russia and CIS. Embedded in smartphones and the TSM (Trusted Service Manager) platform, the wallet brings all the advantages of NFC technology to Russian and CIS consumers, including the remote issue and secure download of Mobile MasterCard PayPass® cards. Both the NFC wallet and the …

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Gemalto supplies MTS Russia with UpTeq NFC SIM for mobile transport services

May 27, 2013 May 27, 2013

Amsterdam – Gemalto (Euronext NL 0000400653 GTO), the world leader in digital security, is supplying Mobile TeleSystems (MTS), Russia’s largest network operator with over 70 million subscribers, with its UpTeq NFC high-end SIM cards for a mobile phone-based public transport ticketing solution in the city of Novosibirsk. Produced and personalized at Gemalto’s Moscow service center, the …

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PayPal receives license from Russian central bank; plans official launch “later in 2013”

May 23, 2013 May 23, 2013

Last week, PayPal received its license as a “Non-Credit Banking Institution” (NCBI) from the Central Bank of Russia. The international online payment giant is now allowed to work in accordance with the country’s law on payments, which was enacted in 2011. The first step of the approval procedure was completed in March. “PayPal Russia is now preparing its …

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Western mobile payment startup SumUp teams up with Svyaznoy to compete in Russian market

May 23, 2013 May 23, 2013

Landing in a very young, yet already competitive market, the Berlin-headquartered startup SumUp has just announced its launch in Russia. Like its US model, Square, and its Russian competitors, 2can, iPay, Pay-me and SellbyCell, SumUp empowers merchants to accept debit and credit card payments with their mobile devices. Its portable card reader comes with an …

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Yandex.Money integrates with Skrill

May 23, 2013 November 19, 2014

Yandex.Money announces partnership with Skrill, a leading European online payment provider. This new collaboration will allow internet stores around the world to quickly and easily tap into Yandex.Money services. Skrill is one of Europe’s largest online payment providers, offering its clients more than 100 payment options in 200 countries and territories. It allows online businesses to …

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E-payment operator Qiwi raises $212 million in NASDAQ IPO

May 6, 2013 May 6, 2013

Completing its initial public ‪offering on the NASDAQ last Friday, Russian payment operator Qiwi raised $212 million by selling 12.5 million class B shares at $17 each. Initially, Qiwi had expected to sell 12 million shares at a price between $16 and $18 apiece.‬ All the shares were offered by selling stockholders. Qiwi is valued …

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Qiwi estimates itself at $832–936 million

April 25, 2013 April 25, 2013

Qiwi PLC, owner of Russia’s biggest instant-payment operator, announced that its shareholders were seeking to list 12 million Class B shares (U.S. $16–18 each) in the form of American depositary shares (ADS) on the NASDAQ in May. Overall, the company owns 52 million shares, so the placement of 12 million Class B shares accounts for the …

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From Cyprus to New York: Qiwi starts its journey to IPO

March 29, 2013 March 29, 2013

Russian payment operator Qiwi filed a registration statement with the U.S. regulator, the SEC (Securities & Exchange Commission) on Wednesday, to raise up to $100 million from an initial public offering. J.P. Morgan and Credit Suisse will act as joint book-running managers in the operation, which could take place before next summer. The number of American …

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After central bank approval, PayPal continues its “journey” to Russia

March 19, 2013 March 19, 2013

After a week of rumors, PayPal confirmed last Friday that the Central Bank of Russia has approved its application to register as a full-fledged payment operator in Russia. Although PayPal considers Russia to offer “one of the biggest growth opportunities” for its development, it has taken no less than three years for the international payment …

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Smart bank card provider IQcard raises $2.5 million from Russian and Ukrainian funds

March 13, 2013 March 13, 2013

IQcard, a Moscow-based startup offering multifunction bank cards, has raised “more than $2.5 million” in a Series A round from Paradigm Investments and TA Venture, as well as from existing investors Fastlane Ventures and Direct Group. Neither the exact amount of investment nor the startup’s valuation were disclosed. Launched in March 2012, IQcard offers a prepaid bank …

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St. Petersburg regional fund supports innovative payment solution developer

March 7, 2013 March 7, 2013

A state-supported venture fund in St. Petersburg (“The St. Petersburg regional venture fund for investment in small businesses in the scientific and technical sphere,” in Russian officialese) has announced an investment of an undisclosed amount in Breeze Technology, a startup developing innovative payment methods for public transportation. Breeze Technology has provided St. Petersburg and Moscow …

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Yandex.Money enables users to replenish virtual wallets from bank accounts

March 7, 2013 March 7, 2013

Yandex.Money, one of Russia’s leading virtual currencies – in Russian: Yandex.Dengi – announced last month a new step toward integrating its electronic currency with bank systems. Users can now replenish their virtual currency accounts using bank cards issued by Russian banks. To add funds to a virtual account, they only need to indicate their bank …

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