While the most popular online payment methods are online banking and bank cards used online, with 80% and 79% of Russian Internet users, respectively, using these methods regularly, no less than 62% pay with e-wallets. Just 47% utilize SMS-payments. These are some of the key findings of a recently published TNS survey, which was made …
Over the past few months Russia’s Central Bank has made several steps to track and get involved in the developments of financial technologies. In February, the bank created a working group to implement fintech innovation in cooperation with market players. Among the fields of investigation of this working group are Blockchain technologies and the way …
Russia’s central bank seeks active involvement in fintech developments Read More
Target Global, an international venture fund with Russian backers, has led a $24 million funding round for Zooz, an Israeli payment service provider. The round, which was announced last week, also involved Fang Fund, iAngels, Kreos Capital and existing investors Blumberg Capital, Lool Ventures, Rhodium, Claltech (Access Industries’ Israeli tech vehicle), XSeed Capital, CampOne Ventures and angel Eilon Tirosh. The details of the transaction have not …
Target Global leads $24 million round for Israeli-based payment service provider Read More
Yandex Payment Solution, the payment aggregator service of Yandex.Money, is introducing a new checkout method in Russia, allowing merchants to identify their customers’ preferred payment methods and offer “a faster, smarter payment process.” Every user is offered a set of three payment methods, which are assumed to be the most convenient to him or her. These payment methods may include bank cards as …
Russian holders of e-currency accounts may now make use of their leftover foreign coins and bills when traveling abroad. Yandex.Money, a leading Russian e-currency with more than 25 million user accounts, has partnered with international service provider TravelersBox to provide its users with this service, following the examples of PayPal and Qiwi. Using TravelersBox’s kiosks in the airports of Milan …
Megafon, a leading Russian mobile operator, has shut down its mobile payment platform ‘Megafon Money.’ This service will be replaced by Visa Qiwi Wallet — the electronic wallet offered by payment operator Qiwi in partnership with Visa — “with additional specific Megaton features,” Russian business daily Vedomosti reported yesterday. The service has been judged redundant …
Russia’s financial regulator, Bank of Russia, announced it has set up a working group whose main task is to analyze the technological innovations on the financial markets and the blockchain technology in particular. The deputy chair of the Bank of Russia, Olga Skorobogatova who headed the group, noted that the fast development and digitalization of the financial technologies …
Bank of Russia sets up working group on Blockchain technologies Read More
Yesterday British startup TediPay and Russia’s CardsMobile presented their first joint solution at the Mobile World Congress exhibition in Barcelona. Christened ‘Wildcard,’ this open platform allows banks and transport companies to offer their services via a range of wearable devices: smart and hybrid watches, bracelets, smart rings and more. The platform addresses four mass market applications — …
Russian businessman Sergey Kozlovsky has invested 300 million rubles (approximately $3.9 million at the current exchange rate) in PayQR, a Russian startup developing contactless payment solutions. The news was reported earlier today by Russian business daily Vedomosti, which cited PayQR’s founder Vyavcheslav Semenchuk. The details of the transaction were not disclosed. A mobile, QR code-based solution, PayQR claims to be …
Real estate tycoon invests $3.9 million in Russian contactless payment startup Read More
Russian citizens can now pay their bills for internet and mobile phones with Bitcoin. Megafon, Beeline and other popular operators now accept Bitcoins through such services as Cryptonator and 7pay.in. Such services can make Bitcoin more attractive for ordinary Russian users. Cryptonator also offers payment options for popular online games, such as World of Tanks, Perfect World and others. Besides, they can use Bitcoins to replenish their …
Russians can settle Internet and phone bills with bitcoin Read More
Today at the UnBound conference in London Tedipay announced a partnership with Russian contactless payment solution provider CardsMobile to create “a ground-breaking secure platform for mobile payments and smart transit ticketing.” The partners intend to invest no less than $9 million in the project, which will be deployed in the UK. The UK startup has developed an innovative wearables solution …
UK’s Tedipay and Russia’s CardsMobile to invest $9 million in contactless payment project Read More
Since 2013, the Russian legislation on electronic payments has undergone several changes, in parallel with the development of a national payment platform. This article reviews the most significant developments as far as international players are concerned. E-wallets and prepaid cards In 2011, the law on payment systems changed Russia’s e-payments scene dramatically, with all e-wallet issuers and …
From bank cards to e-wallets: How new legislation is changing the Russian e-payment scene Read More
