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Best Payment Methods in Russia in 2019

The on-line bills enterprise inside the Russian Federation has numerous key variations isolating it from markets in different areas. Though bankcard use is gaining reputation each in bodily and virtual trade, the common Russian client is still cautious of banking establishments and bankcard transactions online, who prefer opportunity way of fee. Therefore, unconventional fee techniques have come to be great inside the Russian e-Commerce marketplace, supplying customers the choice of paying with the entirety from cell bills to bills with the aid of code. Let us show you Best Payment Methods in Russia in 2019.

Payment Methods in Russia

Credit Cards

Credit cards are a convenient substitute for cash or check, and an essential component of electronic commerce and internet commerce. Credit card holders who may pay annual service charges draw on a credit limit approved by the card-issuer such as a bank, store, or service provider. Types of Credit Cards:

  • Standard “Plain-Vanilla” Credit Cards.
  • Balance Transfer Credit Cards. 
  • Rewards Credit Cards. 
  • Student Credit Cards.
  • Charge Cards. 
  • Secured Credit Cards.
  • Subprime Credit Cards.
  • Prepaid Cards.

Qiwi Wallet

Qiwi is a publicly traded Russian payment service provider headquartered in Nicosia, that operates electronic online payment systems primarily in Russia, Ukraine, Kazakhstan, Moldova, Belarus, Romania, the United States, and the United Arab Emirates. Sergey Solonin is the CEO of Qiwi. 

It is an e-wallet payment method that enables customers to make secure payments online. Once a payment is initiated, an invoice will be created in your QIWI Wallet account. You can then choose to pay the invoice ‘now’, using your existing QIWI Wallet balance or the card you registered to your QIWI Wallet account.

WebMoney

WebMoney is an online payment settlement system. The company was founded in November 1998 in Russia as a money transfer system for United States dollars, in the wake of the 1998 Russian financial crisis that had led to increased US dollar use in Russia.

Guarantors accept deposits in the underlying assets and issue the corresponding WebMoney units. WebMoneyTransfer can be used for peer-to-peer payments and includes an escrow system. It charges 0.8% of the transacted amount in fees, up to a maximum fee of €50.

Yandex Money

Yandex. Money is Russia’s largest electronic payment service according to a 2016 survey by TNS. It is an online payment service that works with two types of clients individual users and merchants. The service is the joint venture of Russia’s leading search engine Yandex, and Russia’s largest bank Sberbank. 

Pay for Internet and utility services. Use any cards issued by Russian banks and Yandex. Money wallets. If your phone supports NFC, pay with the virtual index. Money card and get 5% cashback in bonus points to your wallet.

Evroset

Euroset was Russia’s largest mobile phone retailer, with over 5,000 stores across Russia and Belarus. It employs some 27,000 people. As of 2006, the company controlled 37% of the Russian mobile retail market. Its main rival is Svyaznoy. The company was founded in April 1997 by Timur Artemyev and Yevgeny Chichvarkin.

Euroset is Russia’s largest mobile phone retailer, with over 5,000 stores across Russia and Belarus.

Svyaznoy

Svyaznoy is Russia’s second-largest independent handset retailer, with over 2,900 stores in Russia and Belarus. Its founder and owner are Maksim Nogotkov. As of 2009, the company controls 22,4% of the Russian mobile retail market. Its main rival is Euroset. The company was known as Maxus between 1995 and 2002.

Svyaznoy is Russia’s second largest independent handset retailer, with over 2,900 stores in Russia and Belarus. Paymentwall allows users to pay through payment terminals located in every Svyaznoy store.

Mobiamo

Mobiamo is a mobile SMS payment method which connects you to over 240 mobile network operators. It is the leading global provider of mobile payments and mobile carrier billing. 

Mobiamo is a mobile payment solution that allows global customers to make secure, fast payments from their mobile devices for digital goods and services in more than 65 countries.