Yandex.Money is an eWallet owned and operated by the biggest Russian web search engine Yandex. Yandex.Money offices are located in Moscow and in St. Petersburg. Yandex.Money is one of the three most popular eWallets in x-USSR, it is the biggest eWallet in Russia. Traditionally its services have been popular for e-commerce payments (merchants) as opposed to p2p transfers.
Yandex.Money accounts can be topped up through bank transfers, cash terminals, prepaid and plastic cards etc. Numerous online changes offer transfers from Yandex.Money accounts to other eWallets and vice versa. Money withdrawals from Yandex.Money are possible via local money transfer systems (Contact), bank transfers etc. Supported currencies: Rubles
Yandex Money is a major online payment platform in Russia, enabling to send and receive payments online in all possible ways: virtual money, cash, credit cards.In 2002 Yandex Money backed by PayCash service first appeared as a subsidiary project of a huge Yandex holding, in 2005 they launched a full-scale multifunctional interface and in 2007 signed agreements with key banking strustures in Russia, thus boosting the demand and expanding the audience. Last year the amount of registered wallets exceeded 18 million. Nowadays Yandex Money is one of the largest instant payment services in CIS countries i.d. not only Russia, but also Ukraine, Belarus and Kazakhstan. Yandex Money processes transactions in Russian roubles ( not USD or Euro) and receives deposits in other CIS currencies as well.
The system creates more than 8000 new accounts daily and processes more than 80000 various payments every 24 hours. Such volumes of activity are acheived by satisfying the customer.
The system is very easy to use and super convenient. Once a user has opened a Yandex account, he can deposit money on the wallet in cash or by credit card. Surely, the user can link one or more cards to the wallet to facilitate the process. Then the user is ready to pay for pretty much everything using his Yandex wallet. Thousands of merchants work with Yandex directly. For those, who do no have such an option, the user can transfer money to a credit card or a bank account or issue a virtual Yandex card for free. Offline purchasing with Yandex is also possible by issuing Yandex Money Master Card.
Moreover, Yandex offers advanced tools of acquiring money for businesses and fundraising.
According to the latest surveys by TNS sociological institute, Yandex Money is the most popular payment method within the Russian Federation: 22% of Russians aged 12-55 carry out at least one puchase every 6 months via Yandex Money, and the brand has broad recognition with 87% of largest cities population.
In 2012, 75% of Yandex.Money was acquired by the biggest Russian bank - state-owned Sberbank.