If you are planning to sell in different countries, you need to consider many things, such as multilingual storefronts with multicurrency pricing, and a procedure for delivery and returns. But those items would mean nothing if you do not offer foreign shoppers a convenient and familiar payment method.
The problem, however, is that payment methods and habits vary by country.
Connecting your ecommerce store to local payment aggregators can be an easy way out. Most of them provide common payment options, including credit cards, online banking, e-money, mobile payments, and terminal payments. A fairly small commission for the transactions — typically 3.0 – 7.0 percent — is usually the price.
But the commission rate is not the only distinction between providers. Differences in features can be important, too.
In this post, I’ll list four major payments aggregators in Russia. There are many more, but these four are trusted by Russian consumers and businesses, as well as international companies.
When choosing a payment aggregator, consider these key points:
- Payment methods. The means by which your customers can transfer money to you.
- Commission. How much are you going to pay for the service?
- Additional services. Advantages that each aggregator can offer you as a client.
- Support. Both sellers and their customers will likely need payment support. It should be multilingual.
- Customized appearance. Are your customers going to be redirected to the aggregator page or will they stay on your website? Will you be able to hide service logos and insert yours instead? Some buyers are scared of redirections and will leave the checkout.
- Durability. The market for payments services in Russia is highly competitive. Choose a long-term provider that provides trusted service and meets market trends and consumers’ expectations.
- Reputation. Knowing providers’ clients will tell you more than anything.
What follows are profiles of the most popular payment aggregators in Russia.
Originated in 2003, Robokassa serves more than 50,000 small and mid-sized businesses, government agencies, and foreign companies. It offers more than 40 payment methods. The transaction commission ranges from 2.3 – 7.0 percent, depending on the payment method and volume. The service allows the processing of payments on your site and Robokassa’s.
- If customers pay using Robokassa, they receive points to use the next time they purchase.
- SMS API to send text notifications about certain events.
- Simple setup by copying code to your web page.
- TV Rain. Television channel.
- Auto.ru. Automotive marketplace.
- 003.ru. Online mall for household appliances.
PayU launched in 2005. It has a worldwide reputation, serving over 200,000 clients from 17 countries. The service supports nearly all payment methods. PayU even provides purchasing on credit and paying in installments. The support is multilingual and always available (24/7). The commission ranges from 3.0 – 7.0 percent.
- Real-time fraud monitoring.
- Payment page builder.
- An app to create virtual checkout on any mobile device.
- Adidas. Sportswear retailer.
- Booking.com. For hotels and travel, mainly.
- Allianz. Insurance company.
Paymaster began in 2010. Integrating a storefront with Paymaster takes just a few minutes if you use the company’s widget, though it can take longer for more complicated needs with an API. Paymaster offers a single agreement and a low commission — starting at 2.0 percent — with the ability to transfer money to your bank account daily, which is rare in Russia. The only problem that non-Russian merchants might face is support, which is available only during local business hours, with poor language options. Nonetheless, the company has numerous international clients.
- Cash on delivery services through partners.
- Cross-selling on the checkout of other merchants.
- Extensive built-in analytics.
- Vk.com. Russian social network.
- Wargaming.net. Game developer and publisher.
- Ozon.ru. Russian consumer marketplace for, seemingly, everything.
Yandex, the leading search engine in Russia, is also the most popular service for accepting online payments. Yandex Checkout has been operating for four years and has roughly 76,000 clients. The service is integrated with other Yandex solutions, providing merchants with additional opportunities to grow their business. The transaction commission ranges from 3.0 – 6.0 percent, although it can be as low as 2.0 percent in special cases. Yandex Checkout also offers marketing services, such as cross-selling on the checkout of other online stores linked to the service.
- Contactless payments, such as Apple Pay, Samsung Pay.
- Payments via telegram and Viber, the Rakuten-owned instant messaging service.
- Integration with other Yandex services.
- AliExpress. The Chinese B2C marketplace.
- Electronic Arts. Video game developer.
- Blizzard Entertainment. Video game developer.