The issue, however, is that payment techniques and customs vary by country.
Joining your ecommerce store to local payment aggregators may be a simple way out. The majority of them provide common payment options, such as credit cards, online banking, e-money, mobile payments, and terminal payments. A fairly modest commission for those transactions — typically 3.0 — 7.0 percent — is normally the price.
But the commission rate isn’t the only distinction between suppliers. Differences in characteristics can be important, too.
In this post, I will list four big payments aggregators in Russia. There are several more, but these four are trusted by Russian consumers and companies, in addition to international companies.
When Picking a payment aggregator, consider these key factors:
- Commission. Just how much are you going to pay for the service?
- Added services. Advantages that every aggregator can give you as a customer.
- Support. Both sellers and their customers will probably need payment support. It needs to be multilingual.
- Customized appearance. Are your customers going to be redirected to the aggregator page or will they remain on your site? Are you able to conceal service logos and fit yours instead? Some buyers are fearful of redirections and will leave the checkout.
- Durability. The market for payments services in Russia is highly competitive. Pick a long-term supplier that provides reliable service and meets market trends and customers’ expectations.
- Reputation. Knowing providers’ customers will tell you more than anything.
What follows are profiles of the most popular payment aggregators in Russia.
Originated in 2003, Robokassa serves over 50,000 small and midsize businesses, government agencies, and overseas businesses. It provides over 40 payment methods. The transaction commission ranges from 2.3 — 7.0 percent, depending on the payment method and quantity. The service permits the processing of payments on your website and Robokassa’s.
- If customers pay using Robokassa, they get points to use the next time they buy.
- SMS API to send text alarms about particular occasions.
- Simple setup by copying code into your webpage.
- TV Rain. Television channel.
- Auto.ru. Automotive marketplace.
- 003. ru. Online mall for household appliances.
PayU started in 2005. It has a global reputation, serving over 200,000 customers from 17 nations. The service supports almost all payment methods. PayU even provides buying on credit and paying in installments. The service is multilingual and always available (24/7). The commission ranges from 3.0 — 7.0 percent.
- Real-time fraud tracking.
- Payment page builder.
- An app to create virtual checkout on any mobile device.
- Adidas. Sportswear retailer.
- Booking.com. For resorts and travel, mainly.
- Allianz. Insurance company.
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Paymaster started in 2010. Adding a storefront with Paymaster requires only a couple minutes if you use the business’s widget, even though it may take longer for more complex demands with an API. Paymaster provides a single agreement and a low commission — beginning at 2.0 percent — with the ability to transfer money to your bank account every day, which can be rare in Russia. The one issue which non-Russian merchants might face is service, which is available only during local business hours, with inadequate language choices. Nonetheless, the business has numerous international customers.
- Cash on delivery services through partners.
- Cross-selling on the checkout of other merchants.
- Extensive built-in analytics.
- Vk.com. Russian social media .
- Wargaming.net. Game developer and writer.
- Ozon.ru. Russian consumer market for, apparently, everything.
Yandex, the major search engine in Russia, is also the very popular service for accepting online payments. Yandex Checkout has been working for four decades and has approximately 76,000 clients. The service is integrated with other Yandex solutions, providing merchants with added opportunities to cultivate their business. The transaction commission ranges from 3.0 — 6.0 percent, even though it can be as low as 2.0 percent in particular circumstances. Yandex Checkout also provides marketing solutions, such as cross-selling on the checkout of other online shops related to the service.
- Contactless payments, such as Apple Pay, Samsung Pay.
- Payments via telegram and Viber, the Rakuten-owned Immediate messaging service.
- Integration with other Yandex services.
- AliExpress. The Chinese B2C market.
- Electronic Arts. Video game programmer.
- Blizzard Entertainment. Video game developer.