Russia scores 28.5 on the MasterCard Mobile Payments Readiness Index, putting it in 28th position. Russia scored well in the categories of Infrastructure, Mobile Commerce Clusters, and Consumer Readiness, but did not score as well in Financial Services, Environment, and Regulation. Although the Russian market is still evolving, the situation outlined above suggests that MNOs/banks/payment networks should begin to socialize the concept of using mobile payments for specific needs.
Telcos have taken the lead in creating mobile payment systems in Russia. Russia has mobile phone penetration of 230 percent of the population aged 15 to 64, which makes it a fertile market for mobile payment growth. Russia scored substantially higher than average in familiarity with P2P payments—24 percent versus 16 percent.Download the Report
What you need to know:
|Telcos have taken the lead in creating mobile payment systems in Russia|
|The regulatory and banking systems in Russia present challenges, but new initiatives in the former could help speed matters|
|Russia scored substantially higher than average in familiarity with P2P payments—24 percent versus an average of 16 percent|