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What is Yandex.Money?

Yandex.Money is the largest electronic payments service in Russia, according to a 2016 survey by TNS. It is an online payment service that works with two types of clients — individual users and merchants. Since 2002, we have been providing services to those who pay and those who accept payments. Our mission is to make payments more convenient, secure, and accessible and to provide our clients with an opportunity to pay in a convenient way when they need to do it.

Yandex.Money has a b2b service Yandex.Checkout— a payment aggregator for online stores and other businesses that need payments on their online platforms. Yandex.Checkout is the leading service for accepting online payments in Russia, according to a 2016 survey by MARC. With this payment solution, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and CIS-citizens just in one button ‘Pay with Yandex’: bank cards, direct debit (online banking), e-wallets, mobile phones, and cash via mobile retailers and payment kiosks (there are over 250 thousand cash-acceptance points all over CIS). Currently, more than 76,000 online stores across the globe use Yandex.Checkout.

We attribute this success to the ease of implementation for online merchants. Yandex.Checkout is integrated into 60 content management systems (CMSs and Saas), so merchants do not need to hire an army of programmers in order to integrate the solution into their website—they can just turn it on in their online store platform settings. We also develop customized solutions for particular industries such as online gaming. The service also offers customized solutions for marketplaces, where many online stores on one e-commerce platform simultaneously receive mutual payment infrastructure.

Yandex.Money also has an e-wallet, which is the original product of the company. We offer consumers easy, safe, and reliable methods of paying online on its own site and mobile app. The service hosts about 28 million user accounts with about 15,000 new accounts opened daily. Recent TNS research showed that Yandex.Money is the most popular e-wallet in Russia: every third user of the Internet in Russia pays by Yandex.Money e-wallet. We were able to achieve this position because of our user-friendly interface and the ease of using Yandex.Money for payments. It is much easier to set multiple automatic payments and track them through one single service than it is to manage them individually.

More than 4 million users have downloaded the Yandex.Money mobile app. 35% of them use an iOS device. Using the app, they can transfer funds via iMessage, pay bills — such as utilities, internet, mobile services — make loan payments, access their most frequent payments, and more. Users can also download the Yandex.Money app on Apple Watch. This allows them to pay online without having to get out their smartphones. All they have to do is select the payment they need from among their Favorites and confirm the transaction. In the last year, payments made via mobile devices have doubled in number and now make up 20% of all payment volume on Yandex.Money.

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