Apple Pay starts operation in Russia

4 October 2016

Apple PayThis week Apple Pay is at last starting its operation in Russia partnering with Sberbank and Mastercard. Russia comes the tenth country after the implementation of the mobile payment platform in the United States, Canada, Singapore, UK and other states. According to the statistics the market of mobile transactions increased about 40% last year amounting to 1.1 billion USD.

Nonetheless, those transactions were an insignificant part of 10.1 billion USD online commerce market. Just 20% of users of the mobile operator MTS resorted to Near-field communication technology in late 2015, while a representative from MTS expects the number to rise by more than 30% in the coming year, and the contactless payments will grow to 770 million USD.

Continuing its geographical expansion pace Apple Pay also adds more value to its service package, making available browser transactions. While the browser availability was initially designed for those consumers who don’t like using mobile devices for payments, users still need to have Mac, iPhone and Apple’s browser Safari, as Apple Pay won’t be supported by any other browser. Furthermore, consumers need to apply bioauthentication data entering it with the use of Touch ID.

This summer reports showed that active users of Apple Pay expanded by 450% mainly owing to its expansion into other markets. 2/3 of the contactless payments in the US are processed by Apple Pay while the mobile payment application is installed only on 45% US smartphones.

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