Ingenico Breaks New Ground with Domestic Processing and Cross-Border Settlement for International Payments in Russia
INGENICO GROUP AMERICAN DEPOSITARY RECEIPTS - UNSP (INGIY)
NASDAQ:AMEX Investor Relations:
ingenico.com/finance/ingenico-group-at-a-glance
Company Research
Source: Business Wire
Ingenico opens up Russia to international merchants AMSTERDAM--(BUSINESS WIRE)-- Ingenico Group, the global leader in seamless payment, is transforming how international online merchants can do business in Russia, by offering domestic processing and cross-border settlement for international payments for the first time. Russia is one of the world’s largest and most dynamic ecommerce markets. It is estimated that ecommerce sales exceeded €28bn last year and with two-thirds of online Russian consumers shopping cross-border, ecommerce revenues are growing by 17% a year. However, it has been a challenging market for international merchants, without a Russian legal entity, payments are typically processed as cross-border transactions by acquiring banks outside of Russia, which significantly impacts authorisation rates. Even international merchants that have a Russian legal entity face seri
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