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Leading e-commerce payment methods in Russia 2016-2019

Despite a significant reduction in usage of debit cards for e-commerce shopping in Russia from 2016 to 2019, it remained the most popular payment method for such purposes, with a 28 percent share in the last observed period. E-wallets gradually gained popularity over the last years and accounted for a quarter of total e-payments in 2019. Credit cards almost doubled their payments share compared to the previous observed period.

Fintech in Russia

    While online shopping has become an increasingly habitual way of shopping for Russians, annual value of payment orders made through the internet steadily grew as well. Annual online payments revenue in the country has accordingly expanded, reaching about 1.3 trillion Russian rubles in 2019. E-shoppers’ preferred payment method in 2019 was online banking; however, e-wallets have also been gaining public interest over the last years.

Russian e-commerce market

    The Russian e-commerce market is at present in the phase of consolidation, thus, its farther expansion for coming years is highly anticipated. In 2019, the e-commerce market value in the country was measured at 2.18 trillion Russian rubles - a growth of over 30 percent compared to the 2018 mark. The expected e-commerce penetration rate in Russia for 2023 was estimated at 60 percent.

Distribution of e-commerce payment methods in Russia in 2016 and 2019*

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Sources

Release date

January 2020

Region

Europe, Russia

Survey time period

2016 and 2019

Supplementary notes

* The source mentions the numbers have been compiled "using a mixture of primary and secondary data sources. Primary refers to our own surveys and commissioned research; whereas secondary refers to authoritative third-party vendor data, and other publicly available data." No specifics, however, are given.
In the 2018 report the source did not include PrePay category.

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