Payments News

On The Web

nbsp; nbsp;

Global

Russian Fintech Tinkoff Launches Buy Now Pay Later Service

“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 […]
nbsp;

Domains

Russian Big Tech Yandex Launches Payment Service

“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 […]
nbsp; nbsp;

Global

Russian Prime Minister Introduces Bill to Allow Fintech Sandboxes, Blockchain Included

“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 […]
nbsp;

Global

Presentation of the First European Acquirer of the MIR Card Scheme at the Russian-British Business Forum – The Roscongress Information and Analytical System

“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.
nbsp;

Global

Sberbank to Open First Branch in McDonald’s Restaurant

“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 […]
nbsp;

Global

Russia’s Mir Domestic Payments System Adds Support for NFC Payments

“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.”
nbsp;

Global

MegaFon Adds Loans to Its Mobile Banking App

“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.”
nbsp;

Global

Sberbank and Yandex launch ‘Russian Amazon’

“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 […]