According to “<a href="https://www.bcg.com/publications/2020/payments-industry-fast-forwards-into-the-future" target="_blank">Global Payments 2020: Fast Forward into the Future</a>” report prepared by Boston Consulting Group (BCG) analysts, Russia entered the top 5 world leaders in terms of the speed of transition to non-cash payments during the pandemic.

Analysts calculated the net change in consumer cash payments, derived the following way: the proportion of consumers who used cash more frequently during the pandemic minus the percentage of consumers who used it less. In Russia it was estimated at -48%, only Great Britain (-62%), Canada (-59%) and Australia (-53%) are ahead of Russia in terms of this indicator.

Russia entered the top 5 world leaders in terms of the speed of transition to non-cash payments during the pandemic.

Global Payments 2020: Fast Forward into the Future

electronic_payments

Report

Business Club "Atlanty" and Smart Ranking named the top 40 of the largest and fastest growing fintech companies in Russia. The top three companies in terms of revenue were the electronic payment service YooMoney, the online cash register Evotor and the automation service for document flow and payments to freelancers Solar Staff.

 
 According to analysts, the turnover of the 40 largest fintech companies from 2018 to 2020 grew 1.5 times from 32 billion to 48 billion rubles. The following segments became the growth leaders: marketplaces and investment platforms, payments and transaction processing, loyalty systems, business solutions.

<hr />
 
 Product cards

 
 <a href="https://ict.moscow/en/card/yoomoney/" target="_blank" rel="nofollow">YooMoney</a>, <a href="https://ict.moscow/en/card/evotor/" target="_blank" rel="nofollow">Evotor</a>, <a href="https://ict.moscow/en/card/solar-staff/" target="_blank" rel="nofollow">Solar Staff</a>

<hr />
 
 The rating was based on the 2020 revenue data of top 40 fintech companies that showed growth in the period from 2018 to 2020. The rating became part of a project aimed at identifying the fastest-growing small and medium-sized companies in Russia in 2018-2020.

 
 <a href="https://ict.moscow/news/smart-ranking-iumoney-evotor-i-solar-staff-stali-krupneishimi-fintekh-kompaniiami-po-itogam-2020-goda/" target="_blank" rel="nofollow">Original (in Russian)</a>

Smart Ranking: YooMoney, Evotor and Solar Staff are Russia’s Largest Fintechs in 2020

Russian telecom giant <a href="https://ict.moscow/en/cards/?tags=MTS" target="_blank" rel="nofollow">MTS </a>has chosen projects from MTS StartUp Hub incubator for integration into the infrastructure of the company's retail network. Among them are the solutions by Moscow startups, a platform for the provision of devices for rent by subscription Arenter as well as a contactless payment service Briskly.

 
 MTS will spend up to $6,755 (500 thousand rubles) on the pilot implementation of each solution, with projects being tested in MTS showrooms and online store by the end of the year. The decision for scaling might come after the pilot testing.

 
 Overall, the incubator has received 154 applications from international teams for its “Innovations in Retail” track. Other participants include an online platform for second-hand devices <a href="https://greatsteve.ru/" target="_blank" rel="nofollow">Greatsteve </a>as well as a platform for automation and control in sales planning in stores <a href="https://heado.ru/" target="_blank" rel="nofollow">Heado</a>.

<hr />
 
 Product cards

 
 <a href="https://ict.moscow/en/card/arenter/" target="_blank" rel="nofollow">Arenter</a>, <a href="https://ict.moscow/en/card/briskly-1/" target="_blank" rel="nofollow">Briskly</a>

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 MTS StartUp Hub is an innovation and investment center for MTS, which consists of a corporate accelerator, a 5G Center, an MTS venture fund, a division for fast launch of pilots, and foreign representative offices.

 
 <a href="https://ict.moscow/news/mts-aprobiruet-v-roznichnoi-torgovle-resheniya-moskovskih-startapov-arenter-i-briskly/" target="_blank" rel="nofollow">Original (in Russian)</a>

MTS StartUp Hub

MTS to Test Retail Solutions by Moscow Startups Arenter and Briskly 

QIWI studied how the Russian non-cash and contactless payments market changed in Q2 2020. Virtual card turnover grew by 44% in comparison with pre-crisis indicators. An average Russian made 19 transactions using a virtual card (versus 11 a year earlier). The average transaction amount increased in comparison with the first quarter by 12% to 10.5 thousand rubles ($135 dollars, + 44% compared to the same period last year). Virtual cards are most actively used in Moscow, its region, and in St. Petersburg.

 
 In general, over the specified period, the turnover of contactless payments increased by 32% in comparison with the first quarter. (and eight times exceeded the turnover of the same period last year). The highest demand was recorded in May compared to April 2020 (+48%).

 
 Qiwi <a target="_blank" href="https://ict.moscow/en/search/?searchText=Qiwi&amp;category=card&amp;sort=&amp;order=">cards</a> on ICT.Moscow

 
 <a target="_blank" href="https://ict.moscow/news/qiwi-oborot-po-virtualnym-kartam-vyros-na-44-vo-vtorom-kvartale/">Original (in Russian)</a>

QIWI

QIWI: virtual card turnover increased by 44% in the second quarter

Mediascope has researched the Russian online
payment market in 2020. Internet banking and Bank cards remain the most popular
ways of payment on the Internet&nbsp;-&nbsp;90% of respondents use each of
them, as well as electronic money – 78% use them to pay online. Contactless
payments are used by 53% of Russians, compared to 45% a year earlier.

 
 Most often, they pay online for mobile communication
– 82% of respondents do so, orders in online stores (81%) and utilities (72%).

 
 <a target="_blank" href="https://ict.moscow/news/issledovanie-53-rossiian-platiat-v-internete-s-pomoshchiu-servisov-beskontaktnykh-platezhei/">Original (in Russian)</a>

Mediascope

Research: 53% of Russians pay online using contactless payment services

global-payments-2020-fast-forward-into-the-future

Mediascope has researched the Russian online payment market in 2020. Internet banking and bank cards remain the most popular ways of payment on the Internet - 90% of respondents use each of them, as well as electronic money – 78% use them to pay online. Contactless payments are used by 53% of Russians, compared to 45% a year earlier. Most often, they pay online for mobile communication – 82% of respondents do so, orders in online stores (81%) and utilities (72%).

<img alt="" data-openpopup="0" data-originalsrc="https://ict.moscow/static/727e2dbb-2b19-53ac-a055-c6f6752f0a33.jpg" src="https://ict.moscow/static/1200x/727e2dbb-2b19-53ac-a055-c6f6752f0a33.jpeg" />

Mediascope has researched the Russian online payment market in 2020.

Russian online payment market in 2020

Research

Yandex

Yandex.Checkout studied how residents of Russia paid for games and game-related purchases last year.

Key findings:

<ul>
	<li>The average revenue per player has increased by 11%, from $37 (2,226 rubles) to $41 (2,472 rubles).&nbsp;</li>
	<li>The number of purchases per player has also increased by 14%, from 4.8 to 5.5, while the average check has slightly decreased by 2.7% and is around $7 (451 rubles).</li>
	<li>In terms of payment methods, the most popular ones among Russian gaming audience are bank cards (45%), followed by invoicing at 40%, and e-money (with Yandex.Money e-wallet outperforming other similar services) with 14%. Also, the subscription model is driven by bank card and e-wallet payments due to convenient linking and top-up processes.</li>
	<li>Top companies by turnover, number of transactions, and number of customers are Valve (Steam), Wargaming, Mail.ru projects (Russian IT giant’s game division), Sony, 4game (Russian game store), Origin.com, and Riot Games. Chinese Tencent games also started gaining an audience in Russia. Top titles by revenue are World of Tanks (still!), Fortnite, Call of Duty: Black Ops IV, League of Legends, Dota2, Fifa 19, Honour of Kings.</li>
</ul>

Английский

The average revenue per player has increased by 11%, from $37 (2,226 rubles) to $41 (2,472 rubles).

videogames

Russian Gaming Market Review

Global research center MARC has conducted a study to determine how websites operating in Russian Internet accept online payments.&nbsp;

In 2018, the number of platforms processing online payments has increased by 15%, resulting in 143,000. 85% of these platforms support payments via bank cards. 3% of websites support payments via payment gateways, 20% use direct bank acquiring, 67% use complex payment solutions.

The most popular payment solutions are Yandex.Checkout (37.6%) and Robokassa (8.7%).

In 2018, the number of platforms processing online payments has increased by 15%, resulting in 143,000.

Global Payments 2020: Fast Forward into the Future

Russian online payment market in 2020

Russian Gaming Market Review

Most popular online payment solutions in Russia in 2019