Payment & banking technologies

Qiwi aims to turn cash payment terminals into a ‘front office’ for online retailers

October 10, 2012

OSMP, Russia’s leading operator of cash payment terminals under the Qiwi brand, announced earlier this week a new offer for e-commerce sites. Not only can online retailers now benefit from a specially adapted interface, ads for e-commerce sites can be displayed while users complete common cash payment operations. Cash payment terminals have become popular in …

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NFC on the move in Russia; compatible phones and payment systems to fuel traction

September 27, 2012

NFC technology enabled 4.5 billion rubles, or about $138 million, worth of payments in Russia in the first six months of this year, reported i-Free, a developer and publisher of mobile applications and games, in an exchange with Russian news agency RIA Novosti. Svetlana Kostochka, the head of i-Free’s innovation marketing department, explained she expects …

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Russian hacker takes iOS in-app purchasing for a ride; Apple’s response middle-of-the-road

July 18, 2012

In a feint that has galvanized the Apple community and exposed an apparent flaw in the iOS, a Russian hacker has dodged official in-app purchase procedures and conned Apple’s App Store into letting him get paid content for free, Macworld magazine reports. Upon completing his hack last week, Alexey Borodin, the developer of the procedure, …

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Yandex e-currency teams up with MasterCard to issue new payment card

April 18, 2012

The Russian search giant Yandex yesterday announced a new step toward integrating its electronic currency, Yandex.Dengi – which translates as Yandex.Money – with bank systems. Users of this virtual currency can now obtain a MasterCard debit card tied to their Yandex.Dengi account and make payments using funds from Yandex.Dengi. The co-branded card can be used …

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PayPal in talks with Russian Post

March 30, 2012

PayPal has held discussions with the Russian Post to prepare its entry on the local market, Russian business daily Kommersant reported earlier this week. Beyond the launch of the international virtual currency on the Russian market, a co-branded payment card has been discussed, which could be replenished from PayPal accounts and used to settle purchases, to withdraw cash …

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Contactless payments take their first steps in Russia

June 16, 2016

On Wednesday, Vimpelcom, a major Russian mobile operator, announced it will deploy the NFC-based contactless payment system it implemented in St. Petersburg last year within the Moscow subway. Widespread commercial launch in Moscow is scheduled for the end of the year. While most offline and online purchases made in Russia are still paid in cash, …

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Teamo.ru attracts Japanese money, prepares recurring billing system

December 2, 2024

The Russian matchmaking service Teamo.ru completed a new round of investment earlier this week with a Japanese venture fund operating in Russia, UMJ Russia. While no details have been disclosed as to the amount involved or Teamo’s valuation, the deal brings total investment to date in the Russian service to more than $2 million. Unlike …

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Yandex e-currency enables fund transfers to Visa and MasterCard accounts

February 17, 2012

The users of Yandex.Dengi, which translates to Yandex.Money, can now transfer funds from their Yandex electronic currency accounts to any bank account with a Visa or MasterCard card. Funds can be transferred to the user’s own account or to any other account of their choice, the Russian search giant Yandex announced last week.

Sberbank to invest $100 million in Russian and foreign startups

February 7, 2012

Sberbank, the Russian national savings bank, announced on Friday the creation of a $100 million venture fund to finance growth stage startups developing IT solutions for the financial industry. “Not only will the fund invest in Russian startups, it will support the most promising innovation anywhere in the world,” the bank’s press release states.

Russia’s “Big Three” mobile operators join forces to develop m-commerce

January 30, 2012

Russia’s three leading mobile operators, Megafon, MTS and Vimpelcom, announced last week they will provide their subscribers with full common access to their respective mobile payment systems. Over the last two years, Russian mobile operators have developed and diversified their mobile payment systems far beyond traditional premium SMS. The ‘Easy Payment’ of MTS, ‘Mobile Payment’ and …

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