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2015 in review: How the Russian government kept supporting innovation — and dreamt of challenging America’s technological domination

December 26, 2018

This week and next, East-West Digital News reviews the most important developments on the Russian high-tech scene in 2015. Today the series goes on with an analysis of government policies in the field of high technologies and innovation.  In 2015 as in previous years, government stimulus played an important, if not crucial role to develop innovation in Russia. In April, …

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Qiwi and Citymobil invest $500,000 in delivery service Today Delivery

February 9, 2016

This past summer payment operator QIWI and mobile taxi booking service Сitymobil  invested $500,000 in Today Delivery, a crowdsourced e-commerce delivery company. The deal has just been revealed by Russian startup blog Firrma.ru. The startup was valued at several million US dollars, a Today Delivery representative told Firrma.ru, without disclosing further details. Today Delivery presents itself as analogue of UberRUSH: “The …

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From bank cards to e-wallets: How new legislation is changing the Russian e-payment scene

February 10, 2016

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 …

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Almost half of Russians now use electronic payment methods

February 17, 2016

Last month Yandex and its subsidiary Yandex.Money released two studies on the Russian e-payment industry. Even though cash on delivery still dominates where physical goods are concerned, Russians are now fully aware of the main available electronic payment methods, according to Yandex.Money, which teams up every spring with TNS to conduct its research. Approximately three quarters of surveyed …

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JD.com launches Russian site as first step to global expansion

June 29, 2015

Last week JD.com, China’s largest online retailer, launched a Russian version of its platform with the stated goal of conquering a 20% share of the Russian e-commerce market. JD.com’s English version had already been accessible to Russian customers for two years, but with no marketing effort or adapted logistics to serve them. Just a fraction of …

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Fintech startup IQcard claims 1 billion ruble monthly turnover, receives new capital injection

February 17, 2016

Last week IQcard, a startup offering prepaid cards and monetization instruments for retailers’  loyalty programs, has raised an undisclosed amount from Finteca Holdings, a new fintech fund investing in Russia and Eastern Europe. Inspired by such international models as Greendot in the USA, IQcard was founded in 2012 by Fastlane Ventures, a Moscow-based startup investment firm and incubator. In 2013, the …

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Qiwi Venture invests $150,000 in mobile payment app AnyBalance

May 26, 2015

Qiwi Venture, the investment arm of Russian electronic payment giant QIWI Group, has committed itself to invest an estimated $150,000 in Krawlly, as reported by Russian tech blog Firrma. This Russian startup is developing an Android mobile app, christened “AnyBalance,” that displays in one interface the balances of a user’s bank, mobile or ISP accounts. The startups claims …

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US social networks, blogs allowed back into Crimea

June 8, 2015

The United States on Friday announced that U.S. companies can still give users in Crimea access to a range of free online communications services, despite an earlier U.S. ban on providing any services to the region after it was annexed by Russia last year. The decision will allow U.S. Internet companies such as Apple and Google — who previously announced that they were cutting off service to Crimea — …

US social networks, blogs allowed back into Crimea Read More

Qiwi acquires payment operators Contact and Rapida

May 18, 2015

Yesterday Qiwi, a major, NASDAQ-listed Russian payment operator, announced the full acquisition of SAER, a holding company that owns the Contact money transfer system and the Rapida payment processing system. Under the terms of the agreement, QIWI will issue 5,593,041 class B shares to the current owner, Russian financial group Otkritie. Based on Qiwi’s current stock price on the …

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June 4-5: Top executives and experts to discuss Russian and global e-commerce trends in Moscow

May 12, 2015

East-West Digital News is proud to announce the upcoming e-Days E-Commerce Conference, Russia’s first internationally-oriented industry event. The second edition edition of this annual event will be held in Moscow on June 4 and 5, in association the chambers of commerce of France and Great Britain and online marketing agency BuzzFactory joining EWDN as co-organizers and …

June 4-5: Top executives and experts to discuss Russian and global e-commerce trends in Moscow Read More

Industry leaders to discuss Russian and global e-commerce trends at Moscow conference

February 25, 2016

East-West Digital News is proud to announce the upcoming e-Days E-Commerce Conference, Russia’s first internationally-oriented industry event. The second edition edition of this annual event will be held in Moscow on June 4 and 5, in association the chambers of commerce of France and Great Britain and online marketing agency BuzzFactory joining EWDN as co-organizers and …

Industry leaders to discuss Russian and global e-commerce trends at Moscow conference Read More

Visa and MasterCard join Russia’s National Card Payment System

February 25, 2016

On April 1 Visa and MasterCard joined Russia’s newly-created National Card Payment System, which was launched in response to US sanctions against Moscow and can be considered the first step towards the creation of an autonomous financial system in Russia. “The national system has already been introduced, quickly and at a little cost, and it has fully …

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