Most popular online payment solutions in Russia: a 2019 MARC study
July 23, 2019
Global research center MARC has conducted a study to determine how websites operating in Russian Internet accept online payments. 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%).
“Most websites use payment solutions for accepting online payments. Unlike payment gateways and direct bank acquiring, complex payment solutions provide not only payments via bank cards, but those made via other methods as well. Thanks to this, every customer can choose a convenient method: if they have a bank card at hand, they could pay with it; if entering bank details is inconvenient, the optimal choice would be internet banking or an e-wallet allowing to sign in and pay literally anywhere. The broad set of payment options increases the chances of a successful purchase”, says Boris Khatutsky, managing director of MARC.
Most often, websites implement online payment methods using the payment service providers (PSPs). Although the percentage of such websites has grown insignificantly in regards to the total number of websites supporting online payment methods (from 66% in 2017 to 67% at the end of 2018), the absolute indicator of growth resulted in 14,000 websites. The top 5 of payment providers stays the same since 2017, only the market shares are changing: first is Yandex.Checkout with the share of 37,6%, followed by Robokassa (8.7%), Payeer (4.4%), UnitPay (3.9%), and PayAnyWay (3.3%).
“Customer experience becomes more and more digital: people are searching for products and services online, consulting with sellers via online chats, making orders, and paying online. Bonus programs of banks and stores also encourage people to pay online. Thus, online payment acceptance is the vital minimum for any business, regardless of the activity field”, comments Boris Khatutsky.
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