The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Merchants bearish on Russian e-commerce potential

Accepting payments from customers in Russia is not always a straightforward process, although interest in the area is growing.


Data from a PPRO eastern Europe payments and e-commerce report published in 2018 underlines that Russia’s e-commerce market is growing by 9% annually and is worth in excess of €23.5 billion.

A hunger for consumer goods in remote regions is being met by overseas retailers, with the PPRO report noting that the cross-border e-commerce market in Russia is growing more than four times as fast as the overall market. Credit card usage is also relatively high.

However, e-commerce growth in Russia remains well below the global average of 14% and even further behind the eastern Europe regional average of 16.8%. In addition, only 3.5% of total retail expenditure in Russia comes from e-commerce, compared to the global average of 6.9% – figures that suggest significant potential for further growth.

James Booth_PPRO_160x186

James Booth, PPRO

One of the challenges facing international merchants looking to do business with customers in Russia is the existence of a sovereign payments area in the form of the Russian national payment system, MIR.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree