Russian e-commerce major Wildberries cuts prices for local payment systems

By bne IntelliNews August 18, 2021

Russia's largest online retailer Wildberries announced cutting prices for goods paid with domestic payment systems MIR, System of Fast Payments (SPB), and SberPay of Sberbank, which could save up to RUB40mn daily to Russian online shoppers.

As followed by bne IntelliNews, Wildberries has been expanding abroad in both former Soviet Union and EU countries.

Now, domestically, Wildberries will boost the appeal of the local payment services cutting the 2% transaction commission. The online retailer processes about 2.3mn orders daily for over RUB2bn.

Press release of the company stressed that new pricing system on the platform allows for greater transparency of the pricing, which includes mark-ups, commissions, loyalty discounts, etc. 

For four consecutive years, Wildberries has been the largest online store in Russia in terms of sales, according to data from the analytical agency Data Insight. Wildberries is one of the ten largest internet resources in Russia by traffic, according to SimilarWeb.

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