What links Russia to Germany’s Wirecard scandal
One of the main figures in the collapse of German payment firm Wirecard, chief operating officer Jan Marsalek, is reportedly hiding somewhere near Moscow. Russian online publication The Bell looked at...
View ArticleTinkoff, VTB and Sberbank top Russian bank digitalization ranking
The Skolkovo Foundation and VR_Bank have evaluated the digitalization level of the top 50 Russian banks in the first half of 2020. Tinkoff Bank – which has just agreed an acquisition deal with Yandex –...
View ArticleMoscow Metro to introduce facial payment technology
Commuters in Moscow will soon be able to take a ride on the metro with just a turn of their heads, as the Russian capital embraces next-generation facial payment technology. At least one turnstile at...
View Article“Big Brother is feeding you:” Sber collects biometric data from school...
Sberbank — the state-controlled giant which recently unveiled a suite of new technology products and dropped the word ‘bank’ from its corporate branding — is compiling a database of Russian citizens’...
View ArticleRussia among top 5 countries for transition to cashless payments during pandemic
According to BCG report Global Payments 2020: Fast Forward into the Future, Russia is among the five world leaders in terms of speed for the transition to non-cash payments during the Covid-19...
View ArticleSber and Visa launch data lab with AI supercomputer
Sber, the Russian state-controlled financial and tech giant, is teaming up with Visa to launch “Russia’s first Data Lab.” The partners intend to “use anonymized data to track changes in customer...
View ArticleNow fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’
Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’ The...
View ArticleMoscow Metro launches contactless instant payment service with support from...
Moscow Metro has partnered with VTB, a leading Russian financial institution, and Google to launch a new payment service. Users with the Google Pay payment service and a Mastercard card can now...
View ArticleOpen banking startup secures $1.6 million from Russian-Belarusian...
An award-winning fintech startup from Moscow, APIBank, has attracted 120 million rubles in Russia (some $1.6 million at the current exchange rate) from the Russian-Belarusian Investment Fund (RBF...
View ArticleA challenge to Apple Pay: Yandex reportedly developing contactless payment...
Yandex plans to launch a contactless payment service, challenging Apple Pay, the leader on the Russian market in this segment, as reported by VTimes. According to an internal document seen by VTimes,...
View ArticleTinkoff launches online-offline payment service
Russia’s digital banking leader Tinkoff announced today the launch of an online and offline payment service for legal entities. Dubbed ‘Tinkoff Checkout,’ the service will operate “as a one-stop shop...
View ArticleRussian tip automation startup acquired by major bank 18 months after launch
Alfa-Bank is in the process of acquiring Netmonet, a startup that uses QR codes to automate tips in restaurants, cafés and beauty salons. In an agreement signed last month, the Russian lender is...
View ArticleOzon to acquire Oney Bank to enhance financial service offerings
Ozon, a NASDAQ-listed Russian e-commerce major, announced today an agreement with Sovcombank to acquire Oney Bank. This cash transaction is still subject to regulatory approval; its exact amount ,...
View ArticleShould Russian banks be scared of SWIFT disconnection?
In a meeting with EU foreign ministers, Ukraine’s top diplomat Dmytro Kuleba joined the chorus of voices calling for Russia to be disconnected from SWIFT — the financial messaging network that...
View ArticleYandex and Tinkoff announce fintech acquisitions
Two acquisitions were announced yesterday in the Russian fintech space. Yandex, the NASDAQ-listed digital major, agreed to fully purchase Acropol Bank. The deal, which is still subject to regulatory...
View ArticleTinkoff named most innovative digital bank in Central and Eastern Europe at...
Tinkoff has been recognised for its innovative banking solutions as the Most Innovative Digital Bank in Central and Eastern Europe at Global Finance magazine’s 2021 World’s Best Digital Banks awards....
View ArticleMoscow metro introduces “world’s first” pay-by-face system
The Moscow Metro on Friday rolled out what authorities have touted as the world’s first fare payment system based on facial recognition technology. The cashless, cardless and phone-less system, called...
View ArticleRussian digital banking giant Tinkoff acquires payment automation service...
Tinkoff, the Russian digital banking giant, has taken control of Just Look, the company behind the Jump.Finance payment automation service. Tinkoff purchased a 51% stake under undisclosed terms....
View ArticleIrene Shvakman, BNPL pioneer in Eastern Europe: “Clear regulation is needed...
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 an exchange with East-West...
View ArticleRussian banks begin testing digital ruble payments
While advocating a ban on crypto exchange, investment and mining in the country, Russia’s central bank has plans to launch its own digital currency. Having completed the prototype of the digital ruble...
View Article