Payment & banking technologies

Central bank contest highlights Russia’s best fintech startups

December 2, 2016

Earlier this month, illustrating the emergence of a whole new tech industry in the country, the Russian central bank rewarded some of the most remarkable fintech startups. The contest took place in the framework of Finopolis 2016, a forum on innovative financial technologies. Held on October 13-14 in Kazan, the capital of the innovation-friendly republic of Tatarstan, …

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Chronopay General Director Jeroen Smit: “The move ‘from brick to click’ has started to pick up pace in Russia and is developing fast”

October 16, 2016

Founded in 2003, ChronoPay was one of the first to enter the online payment market in Russia. In this exclusive interview, the company’s general director Jeroen Smit shared his view on the Russian e-commerce market and its appeal to international e-commerce companies. He also commented on the consequences of the legal matters which involved Chronopay’s founder Pavel …

Chronopay General Director Jeroen Smit: “The move ‘from brick to click’ has started to pick up pace in Russia and is developing fast” Read More

Yandex.Money introduces money transfers via iMessage

October 12, 2016

Russian Apple aficionados using the Yandex.Money app can now send money to each other easily and directly through iMessage. This functionality was introduced last week for the first time in Russia. Yandex.Money got some inspiration from such pioneering western operators as N26 and Circle, the company’s press service told East-West Digital News. To send money …

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Samsung Pay and Apple Pay launch in Russia

February 5, 2017

Yesterday Sberbank, Russia’s national savings bank, and MasterCard announced that they have made available Apple Pay to their clients in Russia. A number of other Russian players are expected to follow. With this expansion, Apple Pay is now available in 10 countries since launching in 2014, including the US, UK, China, Australia, and Canada, notes The Verge. “Many of Sberbank clients actively use …

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Russia’s Sberbank joins international blockchain project

August 31, 2017

Under an agreement signed last week with the Linux Foundation, Sberbank, the Russian savings giant, is joining the Hyperledger Project. Launched in December 2015, the Hyperledger Project defines itself as “a collaborative effort created to advance blockchain technology by identifying and addressing important features for a cross-industry open standard for distributed ledgers that can transform the way …

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Cryptocurrencies can destroy Russian economy, says state official

October 3, 2016

According to Paul Livadniy, the deputy director at the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitrong), cryptocurrencies such as bitcoin threatens the Russian economy and could lead to its destruction. As reported by Russian publication Lenta.ru, Livadniy compared cryptocurrencies to traditional currencies. While the latter are issued by the state — providing greater controls such as …

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Short-term loans: The limits of Google’s global search monopoly

September 27, 2016

In July Alphabet, the holding company that controls Google, suspended placement of contextual ads for 60-day loans in the AdWords advertising service. The announcement of this decision in May caused a storm of protest in the financial community in the USA. Commenting on the ban, the search engine refers to some research which shows that …

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Blockchain and bitcoin enthusiasts to discuss industry trends in Moscow (Nov. 10)

September 8, 2016

On Nov. 10, Moscow will host the Blockchain & Bitcoin Conference Russia, a leading industry conference to highlight the current situation and future prospects for Blockchain and bitcoin in Russia. Among the expected speakers are developers of financial and technical services, financial experts and entrepreneurs, lawyers and investors. The agenda will cover the implementation of …

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Yandex.Money introduces payments in live chats and on users’ wrist

July 22, 2016

Yandex.Money, a leading Russian e-wallet with about 25 million user accounts, has made its app available on the Apple Watch. The app appears on the screen of the watch as soon as users update correspondingly the Yandex.Money app on their smartphones. Thus Yandex.Money users can top up their mobile phones or transfer money to friends right from …

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Consumer habits, payment methods, legislation: The latest trends on the Russian e-payment scene

October 6, 2016

Even though the Russian online payment industry has seen the emergence of a variety payment instruments – with online payment services becoming more and more popular, – the market cannot be characterized as fully mature yet as this term may be understood in countries where electronic forms of payment already prevail. In this article, Elena …

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New report highlights latest trends in global payment and e-commerce industries

August 2, 2016

The Paypers, a major news and research agency covering the international payments industry, has just released the 2016 edition of its Ecommerce Payment Methods Report. An educational overview of the global payments industry, this report’s focuses on providing a framework for an easy understanding of the mechanism behind card-based and alternative payments within the wider standpoint of …

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Sberbank to launch MVNO for mobile banking

July 11, 2016

Sberbank, Russia’s national savings bank, has founded a new subsidiary which will act as an MVNO, Vedomosti reported last week. Dubbed ‘SB-Telecom,’ the new company will provide telecom services to companies within the Sberbank group as well as to their end customers. The new company has yet to receive a license from state regulator Roskomnadzor. According to the …

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