UnionPay keeps expanding its acceptance network in Russia

The company is offering added choices for 3.3 million UnionPay cardholders in Russia

UnionPay

UnionPay keeps expanding its acceptance network in Russia. Source: shutterstock.com

UnionPay International and Russian Standard Bank have announced the growing list of Russian merchants who are now accepting UnionPay cards for online payments.

The new additions include:

  • Ozon, Russia’s e-commerce platform
  • Okko, video-on-demand online services
  • Uber, one of the most popular ride-hailing companies in the country
  • Farfetch, an online luxury clothing store
  • Joom, a marketplace for buying goods from China, Japan and South Korea

At the end of this year, it is also planned to add Wildberries, an e-commerce platform, and Apple Store for Macs, iPhones, iPads, Apple Watches, and more.

Since the outbreak of the pandemic, demand for online shopping, and other options that enable consumers to safely make purchases from their home, has been growing exponentially. We are pleased to announce that even more Russian merchants have enabled UnionPay online payments, allowing UnionPay cardholders to continue to make convenient and secure payments in more of their favorite online stores
Xia Yu, head of UnionPay International Russia Branch

According to the press release, cashless payments were close to $39 billion in Russia in 2019 and that amount was close to $44 billion at the end of last year.

The share of non-cash spending among Russians surged to 59.4% in the first three months of 2021. Cash-free sales were up 6.3% compared to a year ago. As a result, cashless transactions are expected to reach approximately $70 billion by 2024.

We’ve reported that less than 1 in 10 UK SMEs are worried about their current debt.

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