Accept payments in Russia
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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
Banks in Russia
Mobile Carriers in Russia
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.
|E-commerce market size||$25,6 billion|
|Internet penetration rate||49.3%|
|Mobile penetration rate||65.7%|
|Cellular technology standard||3G, 4G|
|Dual sim usage||3.2 million|
|Popular mobile OS||Android|
|Big Mac Index||2.09|
|Average annual income||$4,359.3|