According to a recent study by Modulbank and PRO Wildberries, Armenia has demonstrated impressive growth in the area of cross-border payments on Russian online platforms. From January to August 2024, Armenia's share of the total volume of such payments increased fourfold, reports Kommersant.
Although Armenia's percentage of the total cross-border payment volume remains relatively small at 3.6%, the growth rate significantly outpaces many other countries. For comparison, Belarus's share nearly tripled to 11.7%, while Kyrgyzstan's share grew fivefold, reaching 9.6%.
Svetlana Godlina, a board member of Modulbank, notes the absence of issues in transactions with CIS countries. She emphasizes that a significant portion of transactions are conducted in Russian rubles, contributing to the stability and growth in trade volumes.
