E-purse transactions in Russia reach $1.3bn

2010-10-26

The e-commerce market in Russia continues to grow steadily but needs fast, secure and effective payment systems, according to the Electronic Money Association. E-purse transaction volumes reached approximately RUB 40bn ($1.3bn) in the first three quarters of 2010 (a 40% increase y-o-y), whereas the number of active e-purses rose by 25 million (a 20% increase compared to 2009). Currently, e-commerce accounts for less than 1% of the retail market.

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