eMoney Becoming Popular Payment Option in Russia

What's Next In Payments®
2:49 PM EDT May 20th, 2012

Russian consumers added 125 billion roubles ($4.1 billion) to their e-wallets in 2011, up from 70 billion roubles ($2.3 billion) in 2010, according to Finextra.

Russian consumers use e-wallets to make low-value payments, providing an option to merchants hoping to avoid interchange fees on credit card transactions. Assist Electronic Payment System is one company that provides such services.

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