The user count of local wallets WebMoney, YooMoney and QiWi are all forecast to grow by over 300 percent between 2020 and 2025. All three mentioned wallets have been around for roughly 20 years in Russia, transitioning from payment services originally found on desktop PCs to mobile applications. Note, though, that this forecast was made before the rollout of a new mobile payment service in Russia in June 2021: SberPay. This service from Russia's largest bank Sberbank rolled out to owners of Mir - a domestic credit card brand rolled out in 2015 and heavily promoted within the country - and is meant to activate contactless payments on smartphones. How this will impact the user count of its competitors is not yet known. Additionally, the Central Bank of Russia investigates the three wallets for any anonymous payments. Qiwi, for example, received an 11 million ruble fine in December 2020 for several violations, including deficient record-keeping.
Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025
(in millions)
The source does not provide any information regarding consumers using more than one app at the same time. It may, therefore, be that the total users of all apps combined is higher than the country's population
Supplementary notes
The source explicitly states that "we look (...) only for open wallets, ie those that have the ability to make payments on multiple sites, rather than in reference to an ability to transfer funds between different wallets. Thus we do not focus on transactions conducted via cards stored by a retailer purely for use on that retailer’s website or mobile app."
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Statista estimates. (October 21, 2021). Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025 (in millions) [Graph]. In Statista. Retrieved November 20, 2024, from https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/
Statista estimates. "Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025 (in millions)." Chart. October 21, 2021. Statista. Accessed November 20, 2024. https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/
Statista estimates. (2021). Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025 (in millions). Statista. Statista Inc.. Accessed: November 20, 2024. https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/
Statista estimates. "Number of Users of Selected Mobile Wallets in Russia in 2020, with Forecasts from 2021 to 2025 (in Millions)." Statista, Statista Inc., 21 Oct 2021, https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/
Statista estimates, Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025 (in millions) Statista, https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/ (last visited November 20, 2024)
Number of users of selected mobile wallets in Russia in 2020, with forecasts from 2021 to 2025 (in millions) [Graph], Statista estimates, October 21, 2021. [Online]. Available: https://www.statista.com/statistics/1271450/mobile-wallet-user-forecast-in-russia/
