inCruises International Expands into Russia with Ingenico
The new solution transforms how international online merchants do business in Russia. It offers domestic processing and cross-border settlement for international payments through Russia's banks including Sberbank, one of the biggest banks in central and eastern Europe. This enables inCruises customers to pay for travel more easily and securely than ever before.
Russia is one of the world's largest and most dynamic ecommerce markets, with estimated ecommerce sales exceeding €28bn in 2018. Two thirds of Russian consumers shopping online are shopping cross-border, meaning ecommerce revenues are growing by 17% a year. As the first international payment service provider to process Russian MIR cards, Ingenico is enabling inCruises to reach more travelers in this very important market.
"Russia is one of our booming markets and its tremendous success has created more demand from Russian entrepreneurs to start their own businesses with inCruises. I am grateful for our most successful Russian team leaders including Olga Ratnichenko and Natalia Kolesnikova. Our partnership with our independent representatives is the key for our continuing success globally," said inCruises CEO Michael Hutchison. "We are grateful to be surrounded with such kind and hardworking partners and are proud to welcome future business owners to our team of global ambassadors."
By partnering with Ingenico, inCruises is able to offer added value to the majority of Russians who want to travel and see the world. The relationship allows inCruises customers and independent representatives to remit in the currency of their choice without the risk that comes with converting a fluctuating currency internationally.
The new partnership also enables inCruises' Members and Partners, who prefer having access to many different kinds of alternative payments, to access other locally-preferred payment options. These options include Qiwi, Yandex, and Unified Payments Interface (UPI) platforms like SOFORT, iDEAL, and Bank Transfer.