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The power of QR-codes It’s quite tough to imagine how critical the messenger app WeChat is for everyday life in China until the tenth person of the day asks to scan your QR code. QR codes are everywhere is the East: a QR code is scanned to pay for a taxi ride using Alipay, a QR code is scanned to pay for breakfast using WeChat – even enterprising musicians playing on the streets of a number of Chinese cities have put up boards with QR codes so that passersby can simply transfer them tips directly.In Russia, as elsewhere, the future will be increasingly digital. A year ago Yandex.Checkout launched a new feature for Russian merchants: the ability to accept payments through QRcodes. Sellers simply need to place QR-codes on their merchandise, and customers are able to scan the code through the Yandex.Money mobile application. To some extent, QR-codes, which have been rocking the East, have a great potential to become extremely popular in Russia. Interestingly, sometimes innovation in the payments industry does not come from the market, but from the government. For instance, nowadays all alcohol retail sellers, what means in Russia all the food retailers, have their integration into the country’s electronic tracking and monitoring system (EGAIS). In order to perform their tracking obligations under the EGAIS system, retailers have to be equipped with special hardware - a visual 2D scanner connected to the till, which is able to read QRcodes. For instance, nowadays all alcohol retail sellers, what means in Russia all the food retailers, have their integration into the country’s electronic tracking and monitoring system (EGAIS). In order to perform their tracking obligations under the EGAIS system, retailers have to be equipped with special hardware - a visual 2D scanner connected to the till, which is able to read QR-codes. This external state initiative can potentially result in the rise in the QR-payment industry in Russia. For instance, nowadays all alcohol retail sellers, what means in Russia all the food retailers, have their integration into the country’s electronic tracking and monitoring system (EGAIS). In order to perform their tracking obligations under the EGAIS system, retailers have to be equipped with special hardware - a visual 2D scanner connected to the till, which is able to read QR-codes. This external state initiative can potentially result in the rise in the QR-payment industry in Russia. Thus, if Russian government decides to be digital or more innovative, they will be successful. Given that, e-wallets will find a new place in the ecosystem, becoming much more than just an e-commerce payment tool – but a smart, flexible and handy essential. Payments in messengers Whereas instant messenger payment model is in high demand in Asia, it is still brand new for Russia. Telegram, which has some 100 million users and has evolved from a simple communication platform into an entire ecosystem, looks to be following the footsteps of WeChat — where messaging apps are integrated with offline commerce and electronic wallets. Yandex.Checkout was the first in Russia to enable online stores to accept payments via Telegram Bots, allowing their customers to pay for goods and services directly in the messenger: movie tickets, mobile communication, flower delivery and so on. Accepting payments in this new way suits both small companies that work with their clients mainly through social networks and messengers, and large businesses. Telegram is not the only experience for payments in messengers. For example, Yandex.Checkout provides built-in chat payments for online stores with JivoSite. Recently Yandex.Checkout has also enabled online stores to send invoices to their customers via Viber messenger, with more than 800 million people on the platform in 193 countries. What is the silver bullet for e-commerce? Russian business landscape is currently going through a period of dramatic changes, fueled by quick adoption of both Western and Eastern business practice and technology. Russia is a vast country of contrasts, which also is reflected in national payment habits. In order to be successful, businesses need to fit into the country’s own perspectives and cultural norms. Staying one step ahead requires regular updates, improvements and new features.That being said, Russian e-commerce market is unique, featuring a distinct mix of different practices and payment habits in one place. Therefore, businesses striving for profit maximization have to adapt to existing payment landscape and give their customers a choice of payment options, popular among Russians. In return, Russian Payment Service Providers have a challenging task to make different payment scenarios as technologically advanced and user-friendly as possible.Where are we heading? — Russian thinkers, writers, politicians and scholars have been discussing this question for several hundred years. The outstanding and imaginative Russian historian Vasily Klyuchevsky once remarked that Russia is subject both to the mild winds of Europe and harsh winds of Asia. Indeed, Russia occupies a middle position between East and West — georgraphically, politically, culturally but also businesswise. 24
2018 5th Edition Walter E. Washington Convention Center, Washington, DC, USA Conference: April 30–May 2, 2018 Exhibition: May 1–2, 2018 CONNECT WITH A WORLD OF NEXT-GENERATION IDENTITY SOLUTIONS 1,400 industry leaders, specialists and senior decision makers attending. 3 conference streams with in-depth analysis of digital ID ecosystems, fintech, border management, biometrics, future ID and more. 80+ speakers, hand selected to inform, inspire and prepare attendees for future challenges. 100 exhibiting companies showing the latest in identity solutions plus a new Start-up Zone. 2 free seminar theaters, offering a wealth of free content to attendees. Countless opportunities to learn, meet new contacts, and do business. Event powered by WWW.CONNECTIDEXPO.COM 23
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Page 4 and 5: 2018: A SEMINAL YEAR FOR THE FUTURE
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Page 8 and 9: BY Nathan Trousdell HOW DATA IS TRA
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Page 21 and 22: The key challenge facing merchants
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