Many people in Russia do not have bank accounts
Posted: Wed Feb 19, 2025 5:15 am
In Russia, a company called Qiwi has grown rapidly since its establishment in 2004, and is famous for having more terminals than bank ATMs in Russia. This system allows users to make payments without having to enter bank account or credit card numbers over the Internet, and is popular among security-conscious consumers. This type of service became widespread because about half of the Russian population does not have a bank account.
Currently, several terminals have been installed in Brazil, Kazakhstan, Romania, and the United States, and the service is being expanded. There are currently 60 million users, and last year the amount spent was 152 billion rubles (4.7 billion US dollars), with an average usage fee of only 0.6%. It is
much cheaper than Paypal and is easy to use. In countries where the number of bank cards and credit cards is low, there is a growing demand for such services that allow online shopping to be easily done by simply touching the screen.
In addition, QIWI is apparently preparing a mobile shopping australia whatsapp data platform. Furthermore, payment methods different from those in other countries, such as Webmoney and Yandex Money, are used in Russia. The company is headquartered in Moscow, but is registered in Cyprus, which is free of corporate tax. A Japanese company (Mitsui) is also investing.
summary
Each country has its own monetary policy, and bank services are completely different. For example, in the Netherlands, iDeal bank payments are the mainstream at 55%, and other payment methods are rarely seen. Taxes and various payments are all paid with iDeal.
However, in the UK, payments are sometimes accepted by verbally stating your credit card number over the phone, which makes you wonder about security. In Russia, one-stop online payment services such as QIWI are widespread.
When selling products overseas, the most important points are payment and delivery time, so it is a good idea to appeal to the reliability of your company by supporting the mainstream online payment methods in that country and by providing security.
Currently, several terminals have been installed in Brazil, Kazakhstan, Romania, and the United States, and the service is being expanded. There are currently 60 million users, and last year the amount spent was 152 billion rubles (4.7 billion US dollars), with an average usage fee of only 0.6%. It is
much cheaper than Paypal and is easy to use. In countries where the number of bank cards and credit cards is low, there is a growing demand for such services that allow online shopping to be easily done by simply touching the screen.
In addition, QIWI is apparently preparing a mobile shopping australia whatsapp data platform. Furthermore, payment methods different from those in other countries, such as Webmoney and Yandex Money, are used in Russia. The company is headquartered in Moscow, but is registered in Cyprus, which is free of corporate tax. A Japanese company (Mitsui) is also investing.
summary
Each country has its own monetary policy, and bank services are completely different. For example, in the Netherlands, iDeal bank payments are the mainstream at 55%, and other payment methods are rarely seen. Taxes and various payments are all paid with iDeal.
However, in the UK, payments are sometimes accepted by verbally stating your credit card number over the phone, which makes you wonder about security. In Russia, one-stop online payment services such as QIWI are widespread.
When selling products overseas, the most important points are payment and delivery time, so it is a good idea to appeal to the reliability of your company by supporting the mainstream online payment methods in that country and by providing security.