The user penetration for E-Commerce platform has been speculated somewhere near 35% in 2018, which is in fact of phenomenal progress in terms of online business. The business model of e-commerce in Russia has shown certain traits like cash on delivery payment option is higher in comparison with other payment options. But with the passage of time and introduction of online payment options, to avail products and services online Russians are also changing the trait and accepting online payment options.
To establish in the flourishing online business in Russia, merchants essentially need merchant account and payment gateway. Merchant account is almost similar to a bank account but it enables the account holder to accept and hold the transaction money for a certain time period before it is actually transferred to the bank account. If merchant is based in Russia and the target clientele is within the country then credit/ Debit Card processing merchant accounts are a better option. If the target clientele is based in United States then the best kind of payment option is Echeck and ACH. This is specifically beneficial for high risk merchant account, as it helps in reducing the chargeback ratio and maintaining the merchant account for longer time.
Merchants in Russia can apply with domestic banks for high risk merchant accounts but the underwriting guidelines make it difficult to get a merchant account. Quadrapay advice merchants to apply with offshore merchant account providers to get the best possible services with additional benefits. Although offshore service providers charge more than domestic processors yet the prompt and Quality Services make it worth paying.