Many thanks for your comment. You are correct in that Russia is not particularly low in rates of mobile banking. In fact from amongst the 121 countries where data is available, Russian mobile banking rates is right around the median. I also agree that new business models, new players both in banking and telecom industries, and active government involvement is needed in pushing forward with mobile banking agendas. However, the main aims of this blog was to highlight the fact that alongside factors which you correctly pointed to, physical security concerns, cultural factors, and also the role of remittances in an economy can play important roles in the development of an active mobile banking industry.