Campbell Bethwaite of Redstone Capital: “Russian financial services, in terms...
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...
View ArticleRussia suffers holiday retail nightmare as cash registers crash
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...
View ArticleYandex.Money adopts US personal finance management solution to “help people...
Yandex.Money’s 46 million users may now enjoy personalized analysis and advice to optimize their expenses and savings. The Russian e-payment company has integrated to its e-wallet mobile app a...
View ArticleHow Sberbank has transformed itself from ‘babushka bank’ to digital banking...
In this op-ed Anna Kuzmina, a figure of the Russian payment industry, highlights the importance of Sberbank in Russians’ everyday life, and the implications of this bank’s digital transformation. Mrs...
View ArticleOzon launches user-to-supplier loan platform
Ozon.ru, a leading Russian online retailer, is testing a service that will allow customers to grant loans to small and medium businesses among Ozon’s 2,000+ suppliers. The new service, dubbed...
View ArticleHuawei Pay launches in Russia, second country after China
After similar moves by Apple, Samsung and Google in 2016-17 and WeChat just weeks ago, Huawei announced last week the launch of its contactless payment service in Russia. Huawei Pay defines itself as...
View ArticleEurasian Economic Union considers launching digital currency in response to...
The member states of the Eurasian Economic Union (EAEU) – Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia – are considering creating a digital currency in 2020 or 2021, the Russian deputy finance...
View ArticleIn Russian supermarkets, consumers can settle purchases with their fingerprint
In what could be a world’s first, Azbuka Vkusa, a major grocery chain with more than 170 outlets across Russia, and its partner Sberbank, the state-owned banking giant, have launched what they call a...
View ArticleMajor Russian bank patents multi-issuer blockchain system
VTB, a major Russian bank, announced yesterday that it has obtained “a patent for a multi-issuer payment system based on blockchain technology.” The bank claims it is “the first case of a bank...
View ArticleIngenico’s new solution aims to process cross-border payments from Russia...
Last month Ingenico Group, a global leader in seamless payment, launched a domestic processing and cross-border settlement offer to make easier international payments involving Russian online...
View ArticleBRICS countries could launch integrated payment system
Brazil, Russia, India, China and South Africa are currently developing a common payment system designed to be used from any of the five countries with their local currencies. The Russian newspaper...
View ArticleUp to 15% of online purchases in Russia are made on credit
Yandex.Checkout, the B2B branch of Yandex.Money, recently released a study about online sales on credit in Russia. The research is based on the data collected by the company itself, following the...
View ArticleVisa launches cash withdrawal pilot project in Russia
“Visa announces technical implementation of cash withdrawal services at cash registers at trade and service enterprises in Russia. The service is currently being tested as a pilot in partnership with...
View ArticleNew online bank to serve cross-border transactions from and to Russia
Bank 131, a new digital bank focused on Russian companies and entrepreneurs that work for global Internet companies and/or buy from global e-commerce companies with a Russia presence, announced today...
View ArticleHow international solution providers reshape today’s global payment ecosystem
In association with East-West Digital News, leading industry publication The Paypers presents its new mapping of the solution providers in the global payments space, highlighting the salient...
View ArticleWhat you need to know about Facebook’s Libra, the next-coming cryptocurrency...
In association with leading international publications, East-West Digital News presents a series of expert analysis and thought leadership pieces to shed light on global e-commerce and e-payment trends...
View Article10 Russian online banking features that you probably don’t have
Private banks and credit cards appeared in Russia relatively recently – in the early 1990s after the collapse of the USSR. The local banking system developed from scratch, and didn’t have to depend on...
View ArticleRussian retailers test facial-payment technology, possible rollout in 2020
Russia is testing facial-payment technology at supermarkets and could roll it out on a large scale by the middle of the year. VTB, Russia’s second-largest lender, is testing the technology in the Lenta...
View ArticleIn Russia’s next-gen retail outlets, an “intellectual surveillance system”...
Sberbank, the state-controlled finance and technology behemoth, Azbuka Vkusa, a leading grocery retail outlet network, and Visa have teamed up to launch “Russia’s first store fitted with computer...
View ArticleKaspersky researchers found a new fraudulent technique that steals online...
Kaspersky researchers have uncovered a new technique for stealing users’ payment information on online shopping websites, dubbed web skimming. By registering for Google Analytics accounts and...
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