Russians donate more in 2017 with Yandex.Money

Wednesday 29 November 2017 10:54 CET | News

Russians have donated to charity and crowdfunding sites about USD 20.6 million, from January to November 2017, a sum twice bigger than the one in the same period in 2016.

Most often, Russians use Yandex.Money to send donations from e-wallets and bank cards. In general, the average amount of a donation given by people across the country to charities and crowdfunding sites is USD 12.4, which is 13% more than it was in 2016.

In a year the average donation amount grew by 16%, and, for crowdfunding, the number increased by a third. Still, users donate to charities more than they do to crowdfunding – USD 16.55 and USD 11.04, respectively.

After Thanksgiving (in the US), Black Friday and Cyber Monday, #GivingTuesday kicks off the charitable season. Yandex.Money analysts studied how Russians use its online payment service to donate to charitable foundations, as well as to crowdfunders raising funds for private and public projects.

The study accounted for transfers made via Yandex.Money, transactions carried out via Yandex.Checkout payment solution and the tools for crowdfunding – service, as well as buttons and forms for fund acceptance.

Those who donate to charities in Russia have slightly changed their preferences since 2016: nowadays, people donate money more actively to individuals than foundations. In 2017, users have donated to foundations 10% more funds than they did in the same period of 2016.

At the same time, the total amount of donations to individuals has increased by 33%. Russians also seem to have put more trust into crowdfounding. In the first eleven months of 2017, people have donated to them 2.7 times more funds than they did in the same period of 2016.

The largest donations to charities and crowdfunding sites come from the residents of the Central region (USD 16.2), Siberia (USD 15.5), and the Far East (USD 14.98). The smallest donation amount comes from the residents of the Volga Federal District, averaging at USD 9.44.

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Keywords: Russia, Yandex.Money, online payments, charity, crowdfunding, donations, PSP
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce