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Payment instruments choice of Russian consumers: reasons and pain points

Ekaterina Semerikova (Moscow School of Management Skolkovo, Skolkovo, Russian Federation)

Journal of Enterprising Communities: People and Places in the Global Economy

ISSN: 1750-6204

Article publication date: 27 November 2019

Issue publication date: 2 March 2020




The paper aims to explore reasons for choosing different payment instruments and pain points from using them in a Russian context. It proposes that given the expansion of the range of personal payment instruments, the choice for payment is now influenced by many factors, including the type of financial provider and potential benefits for consumers.


This paper is an exploratory study that uses data from the qualitative research conducted in three Russian cities (Moscow, Yekaterinburg and Saratov) based on 50 online payment diaries and 12 group discussions. It was complemented by the analysis of consumers’ posts on six relevant media platforms.


The results show that a bank card is a new must and people choose it for convenience, safety and access to online purchases inside and outside Russia. Cash is used out of habit or wherever cashless payments are either not free or unavailable. Reasons for smartphone pass-through wallet usage include speed, attribute of style and higher cashbacks.

Research limitations/implications

The limitations of the study are similar to any qualitative research and include, in particular, lack of generalization. Proposed hypotheses might be further tested quantitatively on a representative sample.

Practical implications

The results might help providers of financial services in creating better quality products that address consumer pain points and in developing strategies that allow for the changing preferences of consumers.


To the authors’ knowledge, this is the first such study to consider reasons for choosing and pain points from using certain payment instruments in the emerging markets, in particular, Russia.



Semerikova, E. (2020), "Payment instruments choice of Russian consumers: reasons and pain points", Journal of Enterprising Communities: People and Places in the Global Economy, Vol. 14 No. 1, pp. 22-41.



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