Posts: Russia
Computop a leading payment service provider in emerging markets, recently announced a partnership that offers retailers with payment solutions for high growth markets around the world.
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The word from AC&M Consulting is that the market grew nearly 40 percent over the course of 2014, reaching a hefty 70.4 billion rubles, or about $1.1 billion.
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JCB Co., Ltd, the international payments brand based in Japan, recently announced that it will launch a new JCB global website on August 3.
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Earlier in the week, the Bank of Russia announced that it would like to see further advancements and integration in Russia’s fintech sector.
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Last month, Russian payment company Qiwi announced that they are planning to float a new cryptocurrency called “bitruble.”
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Visa has enabled its payWave application for Russia’s frequently used Qiwi e-wallet, thus making mobile contactless payments available for millions of Russian consumers.
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During an interview on a televised event in Russia, Vladimir Putin spoke about bitcoin and other virtual currencies.
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The new cards called “Mir,” which translates to “the world” and “peace,” will be released in the coming months.
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MasterCard has again indicated its desire to continue working on the development of electronic payments in Russia.
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New credit card regulations drafted by the Central Bank of Russia drastically reduce the scope of influence wielded by Visa and MasterCard in Russia.
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According to President Putin, its national payment network could gain a foothold if Visa and MasterCard halt services.
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Sanctions imposed on Russia by the U.S. because of the country’s actions in Ukraine and Crimea has brought some Russian banking customers to lose usage of their Visa and MasterCard payment cards.
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