Story of Yandex.Money
Yandex.Money is the leading Russian fintech company, running the largest e-wallet service by the same name (60M users) and the largest payment gateway for merchants — Yandex.Checkout (120K web-sites). Yandex.Checkout supports around 20 online payment methods — bank cards issued by Russian and international payment systems, e-wallets, online-bankings, contactless payments such as Apple Pay and Google Pay, etc. Other B2B-solutions include anti-fraud protection service, marketing lead generation business, installments, B2B payments, contactless payments, solutions for sales via social media and messengers and a variety of innovative driver payment options.
Story of Yandex.Money
Yandex.Money was founded in 2002, the perfect time to drive e-commerce in Russia. On one hand, the number of internet users was significant, on the other — goods and services were promoted, but not sold online yet. An important organizational deal was completed in 2012 — Sberbank (leading Russian bank) has acquired 75% with Yandex keeping 25%+1 ruble.
Yandex.Money is developing as a B2C product aiming at providing the most comfortable solution to every payment operation — from paying bills and traffic fines to cashback for online-shopping and streaming donations. The development was rapid — instantaneous top-up of digital wallets, direct alliance with a bank account, mobile apps, card-to-card transfers — and led to widespread acceptance. Today e-wallets can be opened from any place in the world with Russia and CIS countries remaining the top residencies. Users can top up their accounts from bank cards, through online-banking and more than 250K payment kiosks. According to the Mediascope study, 52.8% of Russian online users pay with Yandex.Money which places the system at the third most popular payment method after Sberbank online solution (top Russian bank) and bank cards. In 2012 Yandex.Money started to issue its own cards enabling online and offline purchases in any store and for any product. Users can pay with Yandex.Money around the globe and also can be used for contactless payments (Apple Pay, Samsung Pay, Google Pay, Garmin Pay).
2M cards and 19M virtual cards are emitted to the present day, multicurrency solution for 10 foreign currencies is introduced featuring cashback for all currencies.
By 2013 more than 50K websites accepted payments with Yandex.Money, but in order to support other payment opportunities it was required to reach out to other companies. That was the reasoning behind the B2B solution launch — Yandex.Checkout. It enables merchants to add all popular payment solutions (e-wallets, Apple Pay, online banking, bank cards and others — 20 in total). Yandex.Checkout as a custom-developed solution for big clients transformed into the plug-and-play feature for small and medium businesses, yet with all technological novice implemented for a seamless experience. Yandex.Checkout provides installments service (merchants offer their clients split the price) and B2B-payments for operations between enterprises.
Alongside payment options Yandex.Checkout provides services of high demand for small and medium businesses such as anti-fraud systems, service for contextual advertising and other marketing tools.
Yandex.Checkout is a gateway to the Russian market — more than 120K websites from 75 countries utilize its solutions today. Among our clients are оnline retail & shopping platforms (AliExpress, ASOS, Gearbest, JD.com, Tmall, Umkamall, Mango), IT companies (Booking.com, Google, Facebook, Ctrip.com, Kaspersky Lab), games (Electronic Arts, Blizzard, Nintendo, Sony, Microsoft), FMCG & Food (Burger King, Nestlé Group, PepsiCo), automotive businesses (BlaBlaCar, BMW Group, Tesla, Renault), beauty (L’Oréal, Yves Rocher).
Yandex.Checkout was the first on the Russian market to introduce Chinese payment solutions — WeChat Pay for convenience of Chinese customers and for local merchants’ expansion to China, following AliExpress success in Russia. Continuing Asian success Yandex.Checkout now offers its payment gateway and full-fledged assistance for entering the Russian and CIS e-commerce market for Korean businesses.
Yandex.Checkout received the Best PSP Award in 2019, the Emerging Payment Award in 2017 at the Merchant Payments Ecosystem conference (Berlin) and Finaward trophies for cybersecurity solutions and for B2B-payments.
