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April 22, 2021
On the web
Russian Fintech Tinkoff Launches Buy Now Pay Later Service
Crowdfund Insider
“Russian banking group Tinkoff announced on Wednesday the launch of its buy now pay later service, Dolyame.ru . According to Tinkoff, Dolyame.ru allows customers to split purchases into four equal parts. Much like other buy now pay later services, customers just need to cover 25% of the purchase’s price and the remaining three quarters are debited from the buyer’s card on a bi-weekly basis until the full payment amount is received.”
March 19, 2021
On the web
Russian Big Tech Yandex Launches Payment Service
FinTech Futures
“Russian Big Tech Yandex has launched Yandex.Pay, a payment service which can store its customers’ card details for e-commerce payments. The local internet giant rivals the likes of Apple Pay, Samsung Pay, and Google Pay, which all landed in the Russian market between 2016 and 2017. Initially available via websites, Yandex soon intends to roll out the payment service in mobile applications and offline. Currently, Yandex account holders can upload bank card details issued via Mastercard, Visa or Mir – a Russian card issuer.”
October 28, 2020
On the web
Russia launches public consultation on digital ruble
NFCW
“The Central Bank of Russia (CBR) has begun a public consultation on the launch of a central bank digital currency (CBDC) that would allow citizens to use “mobile devices and other media” to make payments using a digital ruble. The Digital Ruble: Public Consultation Report lays out possible options and ways to implement a digital ruble, the functional requirements of introducing a CBDC and its potential impact on the financial sector and economy in general.”
March 25, 2020
On the web
Russian Prime Minister Introduces Bill to Allow Fintech Sandboxes, Blockchain Included
CoinDesk
“Introduced in a new bill on March 17 by Prime Minister Mikhail Mishustin, the plan does not directly mention blockchain or cryptocurrencies, but an explanatory note mentions distributed ledger as one of the technologies that could be explored in the new “experimental regulatory regimes.” Such regimes can be established to live-test the new technologies in medicine, transporation, distant learning, financial markets, online commerce and other sectors. The bill gives Russia’s regulators scope to deal with novel tech in a more flexible way, the document says. It’s also suggested that the country’s regions would be able to set up their own local sandboxes.”
December 2, 2019
On the web
Presentation of the First European Acquirer of the MIR Card Scheme at the Russian-British Business Forum – The Roscongress Information and Analytical System
Roscongress
“We were waiting for an acquirer for the MIR card to be established in the UK. Demonstrating the potential of Russia’s financial services abroad is extremely important. Today, increasing the number of companies connected to acquiring, creating the appropriate infrastructure and assisting in connecting new organisations in the United Kingdom is one of our most important tasks,” said Boris Abramov, Russian Trade Representative in the UK.
June 10, 2019
On the web
Sberbank to Open First Branch in McDonald’s Restaurant
Russia Business Today
“Under the agreement, signed at the St. Petersburg International Economic Forum, the companies intend to partner in card acquiring and a number of other more innovative areas such as using technical systems to analyze data, developing consumer behavior analysis systems, speeding up bank card payments, developing a payroll project for employees, and the opening of a pilot branch of the bank in a McDonald’s outlet.”
March 11, 2019
On the web
Russia’s Mir Domestic Payments System Adds Support for NFC Payments
NFC World
“The new Mir Pay service uses tokenization and is supported on NFC phones running Android 6.0 Marshmallow and above. Eight of the more than 160 banks that issue Mir cards have signed up to take part in the initial rollout — Russian Agricultural Bank, Russian National Commercial Bank, Center-invest Bank, SMP Bank, Bank Russia, UBRD, Credit Bank of Moscow and Promsvyazbank.”
March 8, 2019
On the web
MegaFon Adds Loans to Its Mobile Banking App
NFC World
“The latest feature – Credit via Mobile – enables customers to use their smartphone to apply for credit from Russia’s largest financial institutions without having to visit a bank. The loan request is analysed and the approved funds are sent immediately to the customer’s mobile phone bank account.”
November 5, 2018
On the web
Sberbank and Yandex launch ‘Russian Amazon’
Financial Times (paywall)
“Sberbank, Russia’s largest lender, and search company Yandex are hoping to capture the country’s Rbs1.1tn ecommerce market with a new online marketplace, Beru, which they say will be a “Russian Amazon”. The $1bn joint venture, which launched on Wednesday, is key to Sberbank chief executive Herman Gref’s plan to diversify the state-run bank by creating an “ecosystem” that provides everything from medical services to cyber security.”
April 3, 2018
On the web
Yandex adds online installment payment plan to digital wallet
Mobile Payments Today
“Yandex Money, which is considered the equivalent of PayPal in Russia, has introduced a new feature to its Checkout product that enables online stores and services to provide their customers with an option of paying for purchases in installments, according to a press release. The installment plan will be available to the users immediately once they fill out a simple form at the Yandex.Checkout’s website.”
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