1. GlobeBill-The online payment gateway of Russia
With the rising dependency on the internet around the
world, online payments are beginning to take shape as
normality for convenient shopping experiences.
Russia’s ecommerce spending is growing at about 3-5%
per year, making it a booming country for ecommerce.
The culture has almost fully embraced digital payments
and this has made it easy for ecommerce startups to
succeed in the country.
Though Cash-On-Delivery is a very popular method of payment for online
transactions in Russia for this is known as the most trusting way to do online business.
The growing percentage of third party service also couldn't be looked down for it has
been growing since the past few years. In America, this is actually assumed to be the
most “shady” way to do online business.
Overtime the citizens will transform and begin trusting online payments solution for
the entire process is more convenient and more popular. A young woman said that
usually the online market got new stock coming in more often than most shops, while
the quality of clothes was "almost the same”. For one middle-aged lady it was not
about the price. She said she came to the market often to find clothes for her child,
which she could not find in shops. “You could find some quality stuff here as well,"
she said. Online shopping will become the main trend.
Some payment service provider has also seen the huge market of Russia online
payment gateway like Alipay and GlobeBill. By establishing a local payment gateway
in Russia; GlobeBill can effectively help the foreign investments solve the problems
of operating difficulty. As a representative of GlobeBill, Lin said that the number of
Chinese third-party payment companies involving in Russian Foreign Trade
receivables were very limited which has caused a lot of obstacles when foreign power
want to enter the Russian market. The payment gateway will be able to provide both
Russian and Chinese merchants a professional payment solution in Russian local
business.