Doing Business in Russia, Payment Gateway Becomes the Priority-from GlobeBillDocument Transcript
GlobeBill Opened Payment Gateway for Russian Market Russia as an emerging market and one of the five BRIC countries with the highest per capital income, the new Members of the WTO, its market position has become increasingly prominent. The shrinking of the traditional U.S. and European markets, Russia is increasingly attracting the electric merchant to invest for profitable market. What’s worth your concern is that foreign trade electricity is to consider many factors before entering the Russian market, i.e. independent brand, a certaincultural connotation and your receivable channels?Some Chinese business man has already started to consider this serious question inadvance. For most businessmen, the priority for them is to find a payment gatewaywhich is secured, not stupendously bureaucratic to setup, and also mildly priced.PayPal is not the most popular payment solution in Russia as there are many localpayment solutions like Webmoney which has taken up the largest market and adaptedto customers habits. To some extent, payment inconvenience has largely withdraw thefootstep of some longsighted businessman .As a representative of GlobeBill(www.globebill.com), Lin said that the number of Chinese third-party paymentcompanies involving in Russian Foreign Trade receivables were very limited whichhas caused a lot of obstacles when foreign power want to enter the Russian market.To meet the need of vast market, GlobeBill worked in partnership with the Webmoneyand has officially innovated a Russian local payment gateway. By establishing a localpayment gateway in Russia; GlobeBill can effectively help the foreign investmentssolve the problems of operating difficulty. As a representative of GlobeBill, Lin saidthat the number of Chinese third-party payment companies involving in RussianForeign Trade receivables were very limited which has caused a lot of obstacles whenforeign power want to enter the Russian market. The payment gateway will be able toprovide both Russian and Chinese merchants a professional payment solution inRussian local business.