A recent article in Russia Beyond the Headlines discusses the growth in Russian online banking users.
The numbers are quite impressive: growth of over 3.5 times in the period 2010-11 alone. They dovetail with first-hand experience of the evolution of payment methods in the e-commerce projects we run in Russia in cooperation with foreign companies.
More support for sustainably high growth rates in online payments comes from the fact that overall penetration is still quite low — as of August 2012, only 13% of Russians were banking online. Current annual growth estimates range from 25-80%, with the majority of this coming from the Russian regions, as the main urban centres are already at a high level of adoption of roughly 50%.
The full article is available here.
About Leighton Peter Prabhu
I am a partner in Interstice Consulting LLP and head of the Russian office. My practice focuses on e-commerce business and marketing consulting, especially for foreign e-commerce brands entering the Russian market. I also serve as a consultant to some of the largest international portfolio investors in Russian equities (both public and private). You can find out more about my background and business interests on LinkedIn. You can also connect with me on Twitter and on Google+.
- Web |
- Google+ |
- More Posts (46)
2 Comments