Payments News

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Global

Yandex adds online installment payment plan to digital wallet

“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 […]
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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 […]
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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.”
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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.”
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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 […]