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Russia

Russia Payment Market Overview

E-commerce still only represents 3-4% of the total Russian retail market (4% if including crossborder online sales). The limited size of the market is clear from the small sales volumes of Russian online retailers in comparison with major foreign players. In certain sectors there are no major players due to a lack of investment.

Russian cross-border online sales of goods and services (including digital goods, content, games and social network services) exceeded US$ 12.5 billion, which resulted in a 32% overall increase in volume (US$) compared with the previous year. However, the export market is growing almost twice as fast as the domestic market.

Payment Methods in Russia

Key Market Indicators in Russia

$25,600,000,000
Online shopping market value
49.3%
Internet penetration
70%
Pay with local methods
$828
Avg annual online spend

Banks in Russia

Sberbank
VTB
Gazprombank
Rosselkhozbank
Bank of Moscow
Alfa Bank
Nomos Bank
Unicredit

Mobile Carriers in Russia

MegaFon (МегаФон)
MTS (MTC)
Beeline (Билайн)
Tele2 (Теле2)

Integrate Russian Payment Methods

Russian consumers distrust the safety of online E-commerce transactions. Cash on delivery is the main payment method. In 2019, cash will still accounted for 85% of Russian payments, according to Euromonitor International. In the field of ecommerce, cash still dominates as far as physical goods are concerned in a proportion that varies from 70% to virtually 100% of purchases.

In Russia, digital wallets from QIWI, Yandex.Money and Webmoney are very commonly used for the purchase of goods and digital services. Besides these wallets, MasterCard, VISA and local card 'MIR' are used for online transactions.

Country Statistics
Region Non-EU Europe
Population 145 million
E-commerce market size $25,6 billion
Local currency RUB
Key Metrics
Internet penetration rate 49.3%
Internet cost $9.7/month
Mobile penetration rate 65.7%
Cellular technology standard 3G, 4G
Dual sim usage 3.2 million
Popular mobile OS Android
Other Information
Big Mac Index 2.09
Average annual income $4,359.3
Largest Cities in Russia by Population
Moscow 12,432,531
Saint Petersburg 5,383,890
Novosibirsk 1,618,039
Yekaterinburg 1,483,119
Nizhny Novgorod 1,253,511
Kazan 1,251,969
Chelyabinsk 1,200,719
Omsk 1,164,815

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