WeChat Pay, the payment system of the popular Chinese instant messenger, is making its debut in Russia. In late October Russian Standard announced to be the first Russian bank to support such payments, with the Novotel Moscow Center hotel as the first participant in the program. “In the near future, other Russian Standard partners will …
Chinese WeChat Pay comes to Russia, Russian Mir goes global Read More
Last month AbeBooks, an online book retailer founded in 1995 (acquired by Amazon in 2008), announced its intention to close bookseller accounts in Czechia, Hungary, South Korea and Russia, starting from Nov. 30. Activities in these countries are “no longer viable to operate due to increasing costs and complexities,” AbeBooks stated. AbeBooks’ service will continue in …
Last week UnionPay, the Chinese bank card giant, signed collaboration agreements with four financial institutions from Russia, Georgia, Uzbekistan and Kazakhstan. The signing ceremony took place in Tbilissi, Georgia, with participation from the Chinese ambassador to Georgia, the vice-president of the Central Bank of Georgia, and the CEO of UnionPay International, Mr. Cai Jianbo. In Russia, …
UnionPay expands reach in Russia, Georgia, Central Asia Read More
Visa and Credit Bank of Moscow have partnered to introduce payment-enabled rings in Russia to allow consumers to make purchases across all contactless-enabled payment terminals. The Visa payment-enabled rings are made of shockproof and waterproof ceramics and require consumers to enter a PIN code when the cost of a purchase exceeds USD 13. If the …
Credit Bank of Moscow, Visa release payment-enabled rings in Russia Read More
Earlier this month Yandex.Checkout, the B2B branch of Yandex.Money, announced an update of its mobile software development kit (SDK). This SDK – an open-source software licensed by Massachusetts Institute of Technology (MIT) – already allowed e-merchants with a mobile app to accept payments with bank cards and e-wallets. It now includes mobile payments via Apple Pay, Google Pay, and Sberbank Online Mobile Bank. The …
Yandex.Money launches advanced mobile payment services for e-merchants Read More
Tinkoff Bank, a pioneer in P2P money transfers using a mobile number, has made available this service to Sberbank customers – expanding its potential audience to millions of customers of Russia’s leading savings bank. This service, which Tinkoff describes as being one of its most popular payment methods, will be made available to all Sberbank customers …
Sberbank customers can now transfer money using just a mobile number Read More
Since this past July, Russian retailers have been required to use internet-connected registers which transmit sales data to the authorities to improve tax collection. But retailers were left counting the cost of a holiday-season glitch that may have caused billions of rubles in lost sales after the failure of some of these registers. “A retail nightmare came …
Russia suffers holiday retail nightmare as cash registers crash Read More
Fintech is exploding in Russia, albeit from a very low base. bne IntelliNews editor-in-chief Ben Aris sat down with Campbell Bethwaite, the managing partner of Redstone Capital (recently renamed from Finteca) to talk about the sector and its prospects. Redstone is a holding company that has set up a number of fintech businesses in Russia that are seeing exponential …
Last week Yandex.Money, a leading online payment service in Russia, released Yandex.Gas, a new application intended for drivers to pay for fuel remotely — without leaving their car and queueing at the cash register. Payment can be made with the Yandex.Money e-wallet or using a Mastercard bank card. Yandex.Money plans to expand the range of available payment …
Yandex.Money and Lukoil launch new app to make payments at gas stations easier Read More
The Paypers, an international industry resource, has just released the 8th edition of its “Online Payments and Ecommerce Market Guide,” addressing the most important trends in the global market. In today’s e-commerce and payment market, both merchants and PSPs need more balance between security and convenience for consumers, as well as implementation of omnichannel payments and …
New report highlights latest global e-commerce and e-payment trends Read More
Last week, following a period of mixed signals from the authorities about cryptocurrencies, the Russian communications minister Nikolay Nikiforov said that President Vladimir Putin has officially endorsed a Russian cryptocurrency, the ‘CryptoRuble.’ “We’re launching CryptoRubles for one simple reason: if we do not, then after two months it will be done by our neighbors in …
New banks and credit unions across the US, the UK, Australia, Russia, and China have joined Apple’s list of participating partners as part of the second expansion of Apple Pay this month. In the UK, Cumberland Building Society is now supported, and Latitude Financial Services in Australia also joins the list. In addition to the …
Apple Pay to add more banks across the US, Russia, and China Read More
