Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers”

March 27, 2024

As Buy Now Pay Later (BNPL) has become a popular way for consumers around the globe to settle their purchases, Russia’s Central Bank is seeking to regulate this activity. In this exchange with East-West Digital News,, industry pioneer Irene Shvakman – who co-founded Revo Technologies, Russia’s first BNPL service, even before today’s Western leaders appeared …

Irene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed to maintain online consumers’ trust in delayed payment offers” Read More

Russia’s Melon Fashion Group launches sales on Amazon

January 3, 2022

One of Russia’s leading fashion retailers has launched international sales on Amazon, as companies from the region move to expand their online presence. St. Petersburg-based Melon Fashion Group will now offer apparel under its brand befree on the world’s largest e-commerce platform, according to a company release. Melon Fashion operates four brands, specialising mainly in …

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Moscow clinics bet on AI-powered medical diagnosis, Russian startup triumphs in South Korea

January 17, 2022

No less than two million preliminary diagnoses using a neural network were made to date in Moscow during medical home visits, city authorities announced last week. “Today, the latest digital tools are used in routine medical practice in all adult polyclinics relies – including a clinical decision support system (CDSS) allowing for AI-powered preliminary diagnoses,” according Moscow’s Department of Information Technologies (DIT). After the practitioner enters the patient’s …

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New East Tech Awards highlight 11 promising startups from Russia, Estonia, Ukraine

January 21, 2022

On Dec. 22 New East Tech Awards highlighted 11 startups from Eastern Europe operating in a variety of fields. One of the winners is based in Kyiv, Ukraine, three are from Estonia while the others are located in Russia or founded by Russians.  The awarded companies received investment proposals from The Untitled, one of the …

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Russian edtech on the rise: Educate Online and Synchronization attract millions from top VCs, corps and BAs

December 29, 2021

The Russian online education platform Synchronization, launched by in 2015, has raised $2.25 million, reports business daily Kommersant. The round was led by investment holding Avenir and Rusagro co-owner Maxim Basov. The deal also involved Adfirst VC as well as individual investors Stas Korostelev, Mikhail Tsyferov, Anton Volkov and others. The platform offers courses in …

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US could cut off Russia’s smartphone, car imports over Ukraine invasion

December 24, 2021

The United States could hamstring Russia’s smartphone and automobile imports if Moscow invades Ukraine, Reuters reported Tuesday, citing an unnamed Biden administration official. The “unprecedented” U.S. export control measures are expected to be discussed at a White House meeting Tuesday. Washington will also reportedly closely coordinate its steps with key European and Asian partners that could be …

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From diamond to unicorn: Aysen Nikolayev, Head of Yakutia, comments on IT developments in world’s coldest region

February 3, 2022

Geographers know Yakutia (also called Republic of Sakha) for its low temperatures, commonly dipping below −35 °C in winter, its capital Yakutsk being the world’s coldest large city. Economists and businessmen are aware of its considerable wealths in terms mineral exploitation, with a focus on diamond, gold, and tin ore mining industries. But Yakutia has also engaged on the road to technology development, with notable achievements in terms …

From diamond to unicorn: Aysen Nikolayev, Head of Yakutia, comments on IT developments in world’s coldest region Read More

VK launches information security system overhaul and user data protection program update

December 22, 2021

VK is launching a new program designed to protect users and their data – VK Protect. The program will bring together all technical solutions that provide protection within the VK ecosystem, and will also assist users in managing their privacy and using tools to protect their information. “We are working on a comprehensive system to improve …

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Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025

February 7, 2022

Last week Lenta announced an agreement to acquire online-retailer Utkonos from Severgroup. The parties expect to complete the transaction in February 2022.  A major Russian retail group listed in both Moscow and London, Lenta aims to “create a leading e-grocery platform covering all key shopping missions and market segments.” Lenta will also “significantly expand its online …

Russian retail major Lenta to buy e-grocery pioneer Utkonos as local market could reach $13 billion by 2025 Read More

Russian e-commerce leader Wildberries makes first steps on UK market

December 21, 2021

Wildberries, the number one Russian e-commerce company, has launched sales on the UK market, its “19th country of presence.” UK customers can find on the site no less than 5.5 million goods from 164,000 international brands — from apparel and footwear, to beauty goods, toys, electronics and books — says Wildberries, cited by the TASS …

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Nasdaq-listed Cian.ru bans racial discrimination in rental ads

December 21, 2021

Earlier this month — just weeks after it began trading on the Nasdaq — Russian online real estate service Cian.ru announced “changes in publication rules” and started deleting ads offering rentals “for Slavs only.” According to this new policy, “advertising text must not contain direct or indirect discrimination, nor incitement to discrimination based on race or ethnicity (including indicators such as …

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3 awards in 2 weeks: Sber’s AI teams and products gain international recognition

December 19, 2021

Sber’s excellence in certain technology segments, including artificial intelligence, was highlighted several times earlier this month through a variety of international and domestic awards.  In the yearly ranking “World’s Best Trade Finance Providers” of international magazine Global Finance, the Russian financial and digital giant appeared as number one in the category “Best Use of Artificial …

3 awards in 2 weeks: Sber’s AI teams and products gain international recognition Read More

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