Published 1/1/00
The number of Internet users in Russia is estimated at over one million, and their ranks are constantly increasing. The fact that Russian computer companies sell Pentium II-type systems for US$350.00 to $400.00 will only assist the spread of computer use throughout the country, and considering geographic peculiarities of the Russian Federation, electronic commerce is expected to become very popular.
In Russia, the first attempt to trade on the Internet was made in 1997 when Sovan Teleport started to receive electronic payments by credit cards. In the spring of 1998, Russian Internet stores also started to implement various Internet payment arrangements. Two years after the first efforts at implementing electronic commerce, Russian customers can now purchase books and publications, CDs, software and hardware products, make hotel and ticket reservations, buy spare parts for cars, receive financial services, and review/subscribe to legislation databases and newspapers
