UnionPay Adds Five Merchants to Growing List Accepting Online Payments with UnionPay Cards in Russia

MOSCOW, Oct. 26, 2021 /PRNewswire/ -- UnionPay International (UPI) and Russian Standard Bank recently announced the growing list of Russian merchants who are now accepting UnionPay cards for online payments, with five new additions in July, offering added choice and convenience for the 3.3 million UnionPay cardholders in Russia.

The new additions include:

• Ozon, Russia's largest e-commerce platform
• Okko, one of the largest 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, 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," said Xia Yu, head of UnionPay International Russia Branch.

Rapid digital infrastructure development has meant even back in 2019, seven in ten households were connected to the internet in Russia meaning a significant portion of the population are making regular online payments. Debit cards remain one of the most popular payment methods with a 28 percent share of the market according to recent data.

Cashless payments were close to US$39 billion in Russia in 2019 and that amount was close to US$44 billion at the end of 2020. The share of non-cash spending among Russians surged to 59.4 percent in the first three months of 2021. Cash-free sales were up 6.3 percent compared to a year ago. As a result, cashless transactions are expected to reach approximately US$70 billion by 2024.

About UnionPay International

UnionPay is an international payment system founded in 2002. UnionPay International is focused on the growth and support of UnionPay's global business. Now UnionPay payment acceptance network has expanded to 180 countries and regions, and 70 countries and regions have issued UnionPay cards. In Russia, UnionPay cards are accepted in over 95% of POS terminals and ATMs. Over 1.6 million POS terminals accept UnionPay cards with QuickPass contactless payment technology, and over 3,3 million UnionPay cards have been issued in Russia.

SOURCE UnionPay International

Related Link: http://www.unionpayintl.com/ru/