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{{more citations needed|date=November 2016}}
{{Infobox company
{{Infobox company
| name = Yandex.Money
| name = Yandex.Money
| native_name = Яндекс.Деньги
| native_name = Яндекс.Деньги
| image = Logo money eng.png
| foundation = 24 July 2002
| foundation = 24 July 2002
| area_served = Global
| key_people = Ivan Glazachev, CEO;
| key_people = Ivan Glazachev, CEO;
| owner = [[Yandex]], [[Sberbank]]
| owner = [[Yandex]]
| services = Electronic payment service
| services = Electronic payment service
⚫
| website = {{url|https://money.yandex.ru}}
| num_employees = 1000 (November 2019)
⚫
| website = {{url|https://money.yandex.ru}}, {{url|https://checkout.yandex.com}}
}}
}}
'''Yandex.Money''' ({{lang-ru|Яндекс.Деньги}}) is Russia's largest electronic payment service according to a 2016 survey by TNS.<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=527816|title=TNS Report 2015: Online Payments in Russia - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> It is an online payment service that works with two types of clients — individual users and merchants.
'''Yandex.Money''' ({{lang-ru|Яндекс.Деньги}}; {{lang-zh|Yandex支付}}) is a Russian fintech company running services both for individuals and businesses for accepting and making payments. Its [[B2C]]-focused product is Yandex.Money e-wallet and bank card, and [[Business-to-business|B2B]]-oriented service is [[Yandex.Checkout]] payment service provider. Yandex.Checkout supports around 20 online payment methods — bank cards, e-wallets, e-invoicing, 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.


The service is the joint venture of Russia's leading search engine [[Yandex]] ([[NASDAQ]]: YNDX), and Russia's largest bank [[Sberbank]]. In 2013, [[Sberbank]], one of the largest banks in Eastern Europe, bought a major stake in Yandex.Money. Currently, Sberbank owns a 75% stake in the company, the remaining 25% plus one ruble is owned by Yandex.<ref name=" Yandex and Sberbank Announce Joint Venture for Electronic-Money Solutions ">{{cite web|url=https://money.yandex.ru/doc.xml?id=526327|title=Yandex and Sberbank Announce Joint Venture for Electronic-Money Solutions|publisher=Money.yandex.ru|accessdate=December 19, 2012}}</ref> With new stakeholders, Yandex.Money obtained access to a broad payment infrastructure of Sberbank. Users obtained an opportunity to top up their e-wallets through the chain of Sberbank's [[Automated teller machine|ATM]]s and terminals, and [[online banking]].
60M Yandex.Money e-wallets are registered as of November 2019, and Yandex.Checkout is utilized by more than 120 000 websites (2019) all over the world.


Yandex.Money has a [[business-to-business|b2b]] service Yandex.Checkout <ref>{{cite web|url=https://checkout.yandex.com|title=Yandex.Checkout: payment system for online stores and other services|website=checkout.yandex.com|accessdate=8 May 2017}}</ref> — a payment aggregator for online stores and other businesses that need payments on their online platforms. Yandex.Checkout was launched by Yandex.Money in 2013. Yandex.Checkout is currently the leading service for accepting online payments in Russia, according to a 2016 survey by [[M/A/R/C Research|MARC]].<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=527665|title=Most Popular Payment Solutions Among Online Stores: Russia 2015 - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> With this payment solution{{buzzword inline|date=August 2019}}, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and [[Commonwealth of Independent States|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).
== History ==
<ref>{{cite web|url=https://thefintechtimes.com/what-is-yandex-money/|title=What is Yandex.Money? - The Fintech Times|website=thefintechtimes.com|accessdate=8 May 2017}}</ref> Currently more than 76,000 online stores across the globe use Yandex.Checkout, including such partners as [[Skype]], [[AliExpress]] ([[Alibaba Group|Alibaba]]),<ref name="Global Online Retail Marketplace AliExpress Now Accepting Yandex.Money">{{cite web|url=https://www.internetretailer.com/2014/07/16/global-online-marketplace-aliexpress-now-accepting-yandexmoney|title=Global Online Retail Marketplace AliExpress Now Accepting Yandex.Money|publisher=Internet Retailer|accessdate=July 16, 2014}}</ref> [[JD.com]]<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=527317|title=Yandex.Money Becomes Payment Operator for JD.com - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> and [[BlaBlaCar]].<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=528163|title=Yandex.Checkout to provide payments for BlaBlaCar in Russia - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref>
[[File:Yandex Money Checkout Office Moscow.png|The Moscow office Yandex.Money|right|270px]]
[[File:Yandex Money Office Moscow.png|The Moscow office Yandex.Money|right|270px]]
Currently, Yandex.Money is the joint venture of Russia's leading search engine [[Yandex]] (NASDAQ: YNDX), and Russia's largest bank [[Sberbank]]. The company’s headquarters are in Moscow, Russia. It has branch offices in [[Saint Petersburg]] and [[Nizhny Novgorod]]. Ivan Glazachev is Yandex.Money Chief Executive Officer since 1 March 2017.<ref>{{cite web|url=https://www.forbes.ru/news/340035-ivan-glazachev-iz-banka-russkiy-standart-stal-genirektorom-yandeksdeneg|title=Иван Глазачев из банка «Русский стандарт» стал гендиректором «Яндекс.Денег»|website=forbes.ru|lang=ru|date=2017-03-01|accessdate=2019-12-16}}</ref><ref>https://financialit.net/news/people-moves/ivan-glazachev-new-ceo-yandex-money</ref>


Yandex.Money also has an e-wallet, which is the original product of the company. Yandex.Money offers consumers easy, safe, and reliable methods of paying online on its own site <ref>{{cite web|url=https://money.yandex.ru/|title=Яндекс.Деньги|website=money.yandex.ru|accessdate=8 May 2017}}</ref> and mobile app.<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=524825|title=Mobile Apps - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> The service hosts about 30 million user accounts with about 15,000 new accounts opened daily. Recent TNS research <ref name="yandex.ru">{{cite web|url=https://money.yandex.ru/doc.xml?id=527114|title=TNS Russia Studied the Popularity of E-money - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> 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.<ref>{{cite web|url=http://russiansearchmarketing.com/profiling-users-of-e-payment-systems-in-russia-2015/|title=Profiling Users of E-Payment Systems in Russia 2015 - Russian Search Marketing|date=16 June 2015|publisher=|accessdate=8 May 2017}}</ref> Using Yandex.Money, gamers also can pay on [[Nintendo]],<ref name="Nintendo starts selling digital games in Russia through Yandex">{{cite web|url=https://venturebeat.com/2014/10/03/nintendo-starts-selling-digital-games-in-russia-through-yandex/|title=Nintendo starts selling digital games in Russia through Yandex|publisher=Venture Beat|accessdate=October 3, 2014}}</ref> top up an account on [[Steam (software)]], [[Wargaming (company)|Wargaming]], [[Riot Games]],<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=528542|title=Yandex.Checkout To Expand Collaboration With Riot Games - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> buy codes for [[Apple Inc.|Apple]] ([[iTunes]]) and [[Xbox]]. Yandex.Money became the official sales operator of the popular game publisher [[Electronic Arts]]. Russian users can now buy [[FIFA 17]] for PC and [[Xbox]] through the service.<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=528447|title=FIFA 17 is now available in Russia through Yandex.Money - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> Yandex.Money also distributes [[Blizzard Entertainment]] virtual cards,<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=527965|title=Yandex.Money to Distribute Blizzard Entertainment Virtual Cards in Russia - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> which provide users with a payment option for Blizzard's online games: [[World of Warcraft]], [[Overwatch (video game)]], [[Heroes of the Storm]], [[StarCraft]], [[Hearthstone (video game)]], and [[Diablo (series)]].
Yandex.Money was established by Russia's leading search engine Yandex (NASDAQ: YNDX) and [[PayCash]] in 2002. Major players of [[e-commerce]] market started partnering with Yandex.Money: for example, in 2005 [[Skype]] ([[Microsoft]]) chose Yandex.Money e-wallet as a payment method for their clients in Russia.<ref>{{cite web|url=https://support.skype.com/ru/faq/FA10247/dlya-klientov-v-rossii-chto-takoe-yandeks-den-gi-i-kak-platit-s-pomoshch-yu-etoy-sistemy|title=[Для клиентов в России] Что такое Яндекс.Деньги и как платить с помощью этой системы?|lang=ru|website=skype.com||accessdate=2019-12-16}}</ref> In 2007, Yandex bought the stake of PayCash as well as technology licensing and software.


Customers can also use Yandex.Money cards as a form of payment: both plastic and virtual [[MasterCard]]s are available for issuing.<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=524783|title=Yandex.Money Bank Card - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> In 2015 Yandex.Money received MasterCard Principal Member status.<ref>{{cite web|url=https://rg.ru/2015/12/16/karty-site.html|title="Яндекс.Деньги" начали выпускать собственные банковские карты|website=Российская газета|accessdate=8 May 2017}}</ref> By the 2016 Yandex.Money has issued more than 500,000 plastic cards and 11 million virtual MasterCards. Yandex.Money was among the first to bring its users [[Apple Pay]] in Russia,<ref>{{cite web|url=http://www.thepaypers.com/default/apple-pay-comes-to-yandex-money-customers-via-mastercard/766796-0|title=Apple Pay comes to Yandex.Money customers via MasterCard|website=www.thepaypers.com|accessdate=8 May 2017}}</ref> which is transforming mobile payments with an easy, secure and private way to pay in stores, apps and on the web. Customers can pay via Apple Pay by adding their plastic or virtual prepaid Yandex.Money cards to [[Apple Wallet]]. Online stores and other merchants, which accept payments via Yandex.Checkout, can also offer consumers fast and convenient [[contactless payment]] via Apple Pay.<ref>{{cite web|url=http://www.thepaypers.com/online-payments/yandex-checkout-to-provide-websites-apps-with-apple-pay/767842-3|title=Yandex.Checkout to provide websites, apps with Apple Pay|website=www.thepaypers.com|accessdate=8 May 2017}}</ref> With Touch ID there is no need to manually fill out lengthy payment forms or repeatedly type in billing information.
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 online from any place in the world with Russia and [[Commonwealth of Independent States|CIS]] countries remaining the top residencies. Users can top up their accounts from bank cards, through online-banking and more than 250K payment [[kiosk]]s. According to 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.<ref name="yndmd">{{cite web|url=https://money.yandex.ru/i/forms/mediascope_2019_eng.pdf|title=Online Payments in Russia: 2019 Mediascope report|website=money.yandex.ru|lang=en|accessdate=2019-12-16}}</ref>


⚫
More than 4 million users have downloaded the Yandex.Money mobile app. 35% of them use an [[iOS]] device.<ref>{{cite web|url=https://money.yandex.ru/doc.xml?id=528402|title=Yandex.Money Brings Apple Pay to Customers - Yandex.Money|website=money.yandex.ru|accessdate=8 May 2017}}</ref> Using the app, they can transfer funds via [[iMessage]],<ref>{{cite web|url=http://www.ewdn.com/2016/10/12/yandex-money-introduces-money-transfers-via-imessage/|title=Yandex.Money introduces money transfers via iMessage|first=East-West Digital|last=News|date=12 October 2016|publisher=|accessdate=8 May 2017}}</ref> pay bills — such as utilities, internet, mobile services — make loan payments, access their most frequent payments, and more.<ref>{{cite web|url=https://play.google.com/store/apps/details?id=ru.yandex.money|title=Yandex.Money: online payments - Android Apps on Google Play|website=play.google.com|accessdate=8 May 2017}}</ref> Users can also download the Yandex.Money app on Apple Watch.<ref>{{cite web|url=http://www.paymentsjournal.com/PressRelease.aspx?id=31825|title=Yandex.Money to Launch Payments via Apple Watch - PaymentsJournal|website=www.paymentsjournal.com|accessdate=8 May 2017}}</ref> Yandex.Money mobile application Yandex.Fines for iOS implemented a new feature, which enables paying for traffic fines via Apple Pay.<ref>{{cite web|url=http://www.fintech.finance/01-news/yandex-money-enables-users-to-pay-for-traffic-fines-via-apple-pay/|title=Yandex.Money Enables Users to Pay for Traffic Fines via Apple Pay|date=12 December 2016|publisher=|accessdate=8 May 2017}}</ref>
Since 2011 Yandex.Money has become a global service: citizens of foreign countries can open a Yandex.Money e-wallet. In 2012 Yandex.Money has acquired the status of non-banking credit organization and got the license of the Central Bank of the Russian Federation and started to issue its own bank cards. 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. Users can pay with Yandex.Money around the globe including an opportunity to pay contactless ([[Apple Pay]], [[Samsung Pay]], [[Google Pay]], Garmin Pay).


According to a June 2015 public opinion survey, Yandex.Money is widely known in Russia. In a survey conducted by [[Taylor Nelson Sofres|TNS]], 92 percent of Russians are familiar with the service, and 44 percent regularly use Yandex.Money to make payments.<ref name="yandex.ru"/>
In 2013, the company launched Yandex.Checkout — a [[payment service provider]] for online stores and other businesses that need payments on their online platforms.<ref>{{cite web|url=https://blogs.wsj.com/emergingeurope/2013/10/10/online-retail-takes-another-step-in-russia/?KEYWORDS=yandex|title=Online Retail Takes a Step in Russia|website=wsj.com|lang=en|date=2013-10-10|accessdate=2019-12-16}}</ref> Merchants from all over the world can offer Russian and CIS 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, contactless and so on. The technology platform acts as a [[payment gateway]] and a payment service provider. Yandex.Checkout also provides an instantaneous [[wikt:installment|installment]] service which gives merchants the opportunity to split checks while selling goods and services. Enterprises also have an opportunity to conduct operations with "B2B-payments" solution. Alongside with payment options Yandex.Checkout has a business-market with special offers and discounts for merchants and additionally can provide a number of services for entrepreneurship — [[anti-fraud]] solution, service for contextual advertising and other marketing tools.


The company's headquarters are in [[Moscow]], [[Russia]]. It has branch offices in [[Saint Petersburg]] and [[Nizhny Novgorod]]. Ivan Glazachev is Yandex.Money [[Chief Executive Officer]]. He became the head of the company on 1 March 2017.<ref>https://financialit.net/news/people-moves/ivan-glazachev-new-ceo-yandex-money</ref>
== Products and services ==
=== B2C: Yandex.Money e-wallet, card and app ===
Currently, Yandex.Money is the most popular electronic payment service according to a 2019 survey by Mediascope<ref name="yndmd" /> (for the fourth year in row, according to Mediascope 2017<ref>{{cite web|url=https://money.yandex.ru/i/forms/mediascope_2017_eng.pdf|title=Electronic payments in Russia|website=money.yandex.ru|lang=en|accessdate=2019-12-16}}</ref> and TNS 2016 reports). Yandex.Money is widely known in Russia: 52.8 % of Russian Internet users regularly pay with Yandex.Money.<ref name="yndmd" />

By 2019 Yandex.Money e-wallet is used by over 60M individuals globally (2019). Yandex.Money e-wallet is the original B2C-product of the company, offering its clients safe, fast and reliable payments on the website and in the mobile app.<ref>{{cite web|url=https://play.google.com/store/apps/details?id=ru.yandex.money|title=Яндекс.Деньги — кошелек, платежи, переводы, штрафы|website=play.google.com|lang=ru|accessdate=2019-12-16}}</ref>

Customers can also use Yandex.Money cards as a form of payment: both plastic and virtual Mastercards are available for issuing.<ref>{{cite web|url=https://yandex.ru/support/money/cards/great-cards.html|title=Пластиковая карта|website=yandex.ru|lang=ru|accessdate=2019-12-16}}</ref> In 2015 Yandex.Money received [[Mastercard]] Principal Member status. By the 2019 Yandex.Money has issued more than 2M plastic cards and 19M virtual Mastercards.

Yandex.Money was among the first to bring its users Apple Pay in Russia<ref>{{cite web|url=http://www.thepaypers.com/default/apple-pay-comes-to-yandex-money-customers-via-mastercard/766796-0|title=Apple Pay comes to Yandex.Money customers via MasterCard|website=www.thepaypers.com|accessdate=8 May 2017}}</ref>, which is transforming mobile payments with an easy, secure and private way to pay in stores, apps and on the web. Online stores and other merchants, which accept payments via Yandex.Checkout, can also offer consumers fast and convenient contactless payment via Apple Pay and Google Pay.<ref>{{cite web|url=http://www.fintech-insight.com/yandex-checkout-provides-online-stores-with-google-pay/|title=Yandex.Checkout provides online stores with Google Pay|website=fintech-insight.com|lang=en|date=2018-11-21|accessdate=2019-12-16}}</ref> Also Google Pay<ref>{{cite web|url=https://www.finextra.com/pressarticle/76467/yandexcheckout-provides-online-stores-with-google-pay|title=Yandex.Checkout provides online stores with Google Pay|website=finextra.com|lang=en|date=2018-11-21|accessdate=2019-12-16}}</ref>, Garmin Pay<ref>{{cite web|url=https://www.telecompaper.com/news/yandexmoney-adds-support-for-garmin-pay--1272525|title=Yandex.Money adds support for Garmin Pay|website=telecompaper.com|lang=en|date=2018-12-10|accessdate=2019-12-16}}</ref> and Samsung Pay<ref>{{cite web|url=https://money.yandex.ru/page?id=533291|title=Yandex.Money extends contactless payment methods for its cardholders|website=money.yandex.ru|lang=en|date=2018-12-07|accessdate=2019-12-16}}</ref> are available for Yandex.Money’s users.

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More than 5M users have downloaded the Yandex.Money mobile app (2018). Via the app, they can transfer funds via [[iMessage]]<ref>{{cite web|url=http://www.ewdn.com/2016/10/12/yandex-money-introduces-money-transfers-via-imessage/|title=Yandex.Money introduces money transfers via iMessage|website=ewdn.com|lang=en|date=2016-10-12|accessdate=2019-12-16}}</ref>, pay bills — such as utilities, internet, mobile services — make loan payments, access their most frequent payments, and more. Yandex.Money mobile application Yandex.Fines for [[iOS]] implemented a new feature, which enables paying for traffic fines via Apple Pay.<ref>{{cite web|url=https://www.fintech.finance/01-news/yandex-money-enables-users-to-pay-for-traffic-fines-via-apple-pay/|title=Yandex.Money Enables Users to Pay for Traffic Fines via Apple Pay|website=fintech.finance|lang=en|date=2016-12-12|accessdate=2019-12-16}}</ref>

In 2018, Yandex.Money partnered with American fintech [[Moven]] to integrate its APIs and embed them into the existing Yandex.Money platform to deliver a highly personalized smart banking experience to their customers.<ref name="teleco">{{cite web|url=https://www.telecompaper.com/news/yandexmoney-adds-stock-investment-option--1288267|title=Yandex.Money adds stock investment option|website=telecompaper.com|lang=en|date=2019-04-10|accessdate=2019-12-16}}</ref>

In 2018-2019 Yandex.Money launched two investment services for individuals. The first one, Yammi<ref>{{cite web|url=https://www.bankingtech.com/2018/07/consumer-investment-platform-yammi-launches-in-russia/|title=Consumer investment platform Yammi launches in Russia|website=bankingtech.com|lang=en|date=2018-06-26|accessdate=2019-12-16}}</ref>, is a low cost, transparent, tech/digital-focused automated Wealth Management solution using [[Exchange Traded Funds|Exchange Traded Funds (ETFs)]], and a joint project of Yandex.Money and FinEx Group. The second platform was created in cooperation with BKS Broker for investing in shares of Russian and foreign companies, as well as in foreign currencies using stock exchange rates.<ref name="teleco" />

In 2019 Yandex.Money introduced multi-currency accounts and cards.<ref>{{cite web|url=https://money.yandex.ru/page?id=534625 |title=Yandex.Money becomes a multi-currency service|website=money.yandex.ru|lang=en|date=2018-03-19|accessdate=2019-12-16}}</ref> Before Yandex.Money’s accounts were only in [[Russian rubles]], and transactions abroad were made via conversion. Thus the service allowed individuals to keep money and pay in 10 foreign currencies: [[US dollars]], [[euros]], [[British pounds]], [[Japanese yen]], [[Chinese yuan]], [[Swiss francs]], [[Czech crown|Czech korunas]], [[Polish zloty]], [[Belarusian ruble]]s, and [[Kazakhstani tenge]]s. Yandex.Money was the first company in Russia to offer cashback for payments in all 10 currencies at once and frictionless auto-switch among them.<ref>https://www.verdict.co.uk/electronic-payments-international/news/yandex-money-multicurrency/</ref>

Yandex.Money accumulates digital and games content and retailers’ gift certificates on its own digital market platform.<ref>{{cite web|url=https://money.yandex.ru/digital-goods?_openstat=dgmain|title=Подарочные карты|website=money.yandex.ru|lang=ru|accessdate=2019-12-16}}</ref> Using Yandex.Money e-wallet, gamers also can pay for [[Nintendo games]]<ref name="nintd">{{cite web|url=http://www.ewdn.com/2017/04/25/yandex-money-distributes-nintendo-switch-games-in-russia-and-turkey/|title=Yandex.Money distributes Nintendo Switch games in Russia and Turkey|website=ewdn.com|lang=en|date=2017-04-25|accessdate=2019-12-16}}</ref> and [[Sony Playstation]] codes<ref name="psyd">{{cite web|url=https://www.thepaypers.com/default/yandex-money-to-provide-payments-on-sony-playstation/762369-0|title=Open Banking consumer education: Fear of fun?|website=thepaypers.com|lang=en|date=2019-12-16|accessdate=2019-12-16}}</ref>, top up an account on [[Steam (software)|Steam]], [[Wargaming]], [[Riot Games]], buy codes for Apple ([[iTunes]]) and [[Xbox]]. Since 2011 Yandex.Money has been the official sales operator of the popular game publisher [[Electronic Arts]].<ref name="mnydea">{{cite web|url=https://money.yandex.ru/page?id=526479|title=Electronic Arts Games to Accept Yandex.Money|website=money.yandex.ru|lang=en|date=2011-09-21|accessdate=2019-12-16}}</ref> As well as codes for [[Activision Blizzard]] games, Yandex.Money also distributes [[Blizzard Entertainment]] and [[Sony Entertainment]] virtual cards<ref name="bliz">{{cite web|url=https://www.thepaypers.com/online-payments/yandex-money-distributes-blizzard-entertainment-virtual-cards-in-russia/765599-3|title=Yandex.Money distributes Blizzard Entertainment virtual cards in Russia|website=thepaypers.com|lang=en|date=2016-08-16|accessdate=2019-12-16}}</ref>, which provide users with a convenient payment option for Blizzard’s online games: [[World of Warcraft]], [[Overwatch (video game)|Overwatch]], [[Heroes of the Storm]], [[Call of Duty]], [[StarCraft]], [[Hearthstone]], and [[Diablo (series)|Diablo]]

=== B2B: Yandex.Checkout PSP ===
[[File:Yandex Checkout Serves Merchants.png|thumb|400px|The image shows which countries use Yandex Checkout service]]
Yandex.Checkout is currently the leading service for accepting online payments in Russia, according to a 2019 survey by MARC.<ref>http://marc-analytics.ru/news2018/eng/aggregators</ref> Yandex.Checkout allows individual entrepreneurs, businesses and nonprofit organizations to receive payments in many ways: from bank cards, through Yandex.Money and other e-wallets, through mobile applications and Internet banking of Sberbank, [[Alfa-Bank]] and [[Tinkoff Bank]], using contactless technologies Apple Pay, Google Pay and [[WeChat Pay]], as well as cash through 250K payment acceptance points in Russia and other countries. As a term of an additional agreement, it is possible to receive payments from cards of [[American Express]], [[JCB Co., Ltd.|JCB]] and [[Diners Club]] cards.

Currently more than 120K websites across the globe utilize Yandex.Checkout. 37.6 % of Russian online platforms and stores accepted payments via Yandex.Checkout in late 2018.<ref>http://marc-analytics.ru/news2019/eng/aggregators</ref> International companies and brands partnering with Yandex.Checkout include [[AliExpress|AliExpress (Alibaba)]]<ref>{{cite web|url=https://www.paymenteye.com/2014/07/07/aliexpress-integrates-the-yandex-money-payments-platform/|title=AliExpress integrates the Yandex.Money payments platform|website=paymenteye.com|lang=en|date=2014-07-14|accessdate=2019-12-16}}</ref>, [[ASOS.com|ASOS]], [[JD.com]]<ref>{{cite web|url=https://www.thepaypers.com/online-payments/yandex-money-becomes-payment-operator-for-jd-com/761442-3|title=Yandex.Money becomes payment operator for JD.com|website=thepaypers.com|lang=en|date=2015-09-22|accessdate=2019-12-16}}</ref>, Electronic Arts<ref name="mnydea" />, Blizzard<ref name="bliz" />, Nintendo<ref name="nintd" />, Sony PlayStation<ref name="psyd" />, [[Skype]] and Xbox Live, [[Burger King]], [[Nespresso]] ([[Nestlé]] Group), [[PepsiCo]], [[BlaBlaCar]]<ref name="psyd" />, [[BMW Group]]<ref>{{cite web|url=http://www.ewdn.com/2018/11/26/online-car-orders-are-taking-off-in-russia/|title=Online car orders are taking off in Russia|website=ewdn.com|lang=en|date=2018-11-26|accessdate=2019-12-16}}</ref>, [[Renault]]<ref>{{cite web|url=https://money.yandex.ru/page?id=528571|title=Yandex.Checkout to provide online payments for Renault Russia|website=money.yandex.ru|lang=en|date=2017-01-16|accessdate=2019-12-16}}</ref>, [[Yves Rocher]], etc.

In 2018 Yandex.Checkout launched fast B2B-payments in partnership with Sberbank, the largest bank in Russia. The service makes it easier to receive payments from the legal entities and speed up their processing from 1-3 days to 1-3 minutes.<ref>{{cite web|url=https://www.pymnts.com/news/b2b-payments/2018/russia-sberbank-yandex-instant-transactions/|title=Russia’s Sberbank Develops Instant B2B Payments Service|website=pymnts.com|lang=en|date=2018-10-17|accessdate=2019-12-16}}</ref> Among clients utilizing B2B-payments options are companies from travel industry and telecom providers, ie. [[Ozon.ru|Ozon]] Travel.

In 2019 Yandex.Checkout started expansion of its payment gateway business to [[Korea]] offering consulting package<ref>{{cite web|url=http://news.heraldcorp.com/view.php?ud=20190927000217|title=러시아 최대 핀테크가 한국에서 파트너 찾는 까닭은|website=heraldcorp.com|lang=ko|date=2019-09-27|accessdate=2019-12-16}}</ref><ref>{{cite web|url=http://it.chosun.com/site/data/html_dir/2019/10/31/2019103102090.html|title=얀덱스머니, 러시아 시장 공략 컨설팅 패키지 선봬|website=it.chosun.com|lang=ko|date=2019-10-31|accessdate=2019-12-16}}</ref> for entering Russian and CIS market — payment solutions, AI-based marketing tools and localization suggestions.<ref>{{cite web|url=http://www.etoday.co.kr/news/view/1803257 |title=얀덱스.머니, 'K뷰티' 모시기...미로신 총괄 "지금이 러시아 진출 '적기'"|website=etoday.co.kr|lang=ko|date=2019-09-27|accessdate=2019-12-16}}</ref> Yandex.Money already has existing partnerships with Korean<ref>{{cite web|url=https://www.hankyung.com/it/article/2019102490081|title="러시아 소비자들 韓 화장품 '직구' 돕죠"|website=hankyung.com|lang=ko|date=2019-10-24|accessdate=2019-12-16}}</ref> cosmetics specialized companies such as Style Korean, RoseRoseShop and Viana and supported them with the payment system integration.<ref>{{cite web|url=http://www.newstap.co.kr/news/articleView.html?idxno=98799|title=얀덱스.머니, 한국 중소기업 대상 러시아 진출 통합 컨설팅 서비스 론칭|website=newstap.co.kr|lang=ko|date=2019-10-30|accessdate=2019-12-16}}</ref> With a support of Yandex.Money, RoseRoseShop has increased its retail buyers up to 20 %.<ref>{{cite web|url=http://www.beautynury.com/news/view/85956/cat/10/page/1|title=K뷰티 러시아 인기, 성장 가능성 높아|website=beautynury.com|lang=ko|date=2019-10-16|accessdate=2019-12-16}}</ref>

Yandex.Checkout was localized for Chinese market with the brand of Yandex支付.<ref>{{cite web|url=http://www.baike.com/wiki/Yandex%20%E6%94%AF%E4%BB%98&prd=button_doc_entry|title=Yandex 支付|website=baike.com|lang=zh|accessdate=2019-12-16}}</ref> Engagement with Chinese companies started in 2014 and was led by AliExpress, a leading Chinese e-commerce platform, and AliPay in 2016. Later, in 2018 WeChat partnered with Yandex.Checkout and now companies operating online that are seeking to enter Chinese-oriented market can also accept payments via WeChat Pay.<ref>{{cite web|url=https://www.fintechfutures.com/2019/10/how-to-provide-customers-from-china-with-a-habitual-and-convenient-service/|title=How to provide customers from China with a habitual and convenient service|website=fintechfutures.com|lang=en|date=2019-10-28|accessdate=2019-12-16}}</ref>

Yandex.Checkout received the Emerging Payment Award in 2017 and Best PSP Award in 2019<ref>{{cite web|url=https://money.yandex.ru/page?id=534225|title=Yandex.Money wins Europe’s Merchant Payments Ecosystem Best PSP Award 2019|website=money.yandex.ru|lang=en|date=2019-02-26|accessdate=2019-12-16}}</ref> and Finaward<ref>{{cite web|url=http://finaward.ru/2019_FINAWARD_18.html|title=НОМИНАЦИЯ: ПЛАТЕЖНЫЙ СЕРВИС|website=finaward.ru|lang=ru|accessdate=2019-12-16}}</ref> trophies for cybersecurity solutions and for B2B-payments.

=== Big data, AI & ML-based services ===
In 2018 Yandex.Checkout introduced a multipurpose fraud prevention product based on AI and ML. It detects scams and malware, mitigates abnormal activities and finds new fraudulent patterns. Initially, it was used as an internal system to protect millions of Yandex.Money’s users from account takeovers. The same system was then extended to reduce Yandex.Checkout’s merchants financial risks and maintaining payment conversion.<ref>{{cite web|url=https://www.finextra.com/pressarticle/74153/yandex-checkout-introduces-fraud-protection-system|title=Yandex.Checkout introduces fraud protection system|website=finextra.com|lang=en|date=2018-06-04|accessdate=2019-12-16}}</ref>

Yandex.Checkout’s marketing platform with personalized offers is also based on big data and ML. In 2017 the service launched a new technological platform<ref>{{cite web|url=https://www.finextra.com/pressarticle/71693/yandexcheckout-ships-api/retail|title=Yandex.Checkout ships API|website=finextra.com|lang=en|date=2017-11-24|accessdate=2019-12-16}}</ref> that could help companies accept online payments faster than before, use the special offer system to increase sales, and receive key business analytics. The offer system became a new tool to help online stores and other services attract customers and increase sales. Companies need to upload an offer to Yandex.Checkout — for example, a gift for a purchase or a discount on goods — and it will be shown to the user once they pay via Yandex.Checkout at any other online marketplace. Yandex.Checkout sorts offers to users depending on their personal preferences, using technology based on ML.<ref>{{cite web|url=https://money.yandex.ru/page?id=529912|title=Yandex.Checkout Adopts New Technological Platform|website=money.yandex.ru|lang=ru|date=2017-11-24|accessdate=2019-12-16}}</ref>


==References==
==References==
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[[Category:Online companies of Russia]]
[[Category:Online companies of Russia]]
[[Category:Payment service providers]]
[[Category:Payment service providers]]
[[Category:Financial services companies of Russia]]

Revision as of 10:27, 24 May 2020

Yandex.Money
Native name
Яндекс.Деньги
Founded24 July 2002
Key people
Ivan Glazachev, CEO;
ServicesElectronic payment service
OwnerYandex
Websitemoney.yandex.ru

Yandex.Money (Russian: Яндекс.Деньги) is Russia's largest electronic payment service according to a 2016 survey by TNS.[1] It is an online payment service that works with two types of clients — individual users and merchants.

The service is the joint venture of Russia's leading search engine Yandex (NASDAQ: YNDX), and Russia's largest bank Sberbank. In 2013, Sberbank, one of the largest banks in Eastern Europe, bought a major stake in Yandex.Money. Currently, Sberbank owns a 75% stake in the company, the remaining 25% plus one ruble is owned by Yandex.[2] With new stakeholders, Yandex.Money obtained access to a broad payment infrastructure of Sberbank. Users obtained an opportunity to top up their e-wallets through the chain of Sberbank's ATMs and terminals, and online banking.

Yandex.Money has a b2b service Yandex.Checkout [3] — a payment aggregator for online stores and other businesses that need payments on their online platforms. Yandex.Checkout was launched by Yandex.Money in 2013. Yandex.Checkout is currently the leading service for accepting online payments in Russia, according to a 2016 survey by MARC.[4] With this payment solution[buzzword], 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). [5] Currently more than 76,000 online stores across the globe use Yandex.Checkout, including such partners as Skype, AliExpress (Alibaba),[6] JD.com[7] and BlaBlaCar.[8]

Yandex.Money also has an e-wallet, which is the original product of the company. Yandex.Money offers consumers easy, safe, and reliable methods of paying online on its own site [9] and mobile app.[10] The service hosts about 30 million user accounts with about 15,000 new accounts opened daily. Recent TNS research [11] 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.[12] Using Yandex.Money, gamers also can pay on Nintendo,[13] top up an account on Steam (software), Wargaming, Riot Games,[14] buy codes for Apple (iTunes) and Xbox. Yandex.Money became the official sales operator of the popular game publisher Electronic Arts. Russian users can now buy FIFA 17 for PC and Xbox through the service.[15] Yandex.Money also distributes Blizzard Entertainment virtual cards,[16] which provide users with a payment option for Blizzard's online games: World of Warcraft, Overwatch (video game), Heroes of the Storm, StarCraft, Hearthstone (video game), and Diablo (series).

Customers can also use Yandex.Money cards as a form of payment: both plastic and virtual MasterCards are available for issuing.[17] In 2015 Yandex.Money received MasterCard Principal Member status.[18] By the 2016 Yandex.Money has issued more than 500,000 plastic cards and 11 million virtual MasterCards. Yandex.Money was among the first to bring its users Apple Pay in Russia,[19] which is transforming mobile payments with an easy, secure and private way to pay in stores, apps and on the web. Customers can pay via Apple Pay by adding their plastic or virtual prepaid Yandex.Money cards to Apple Wallet. Online stores and other merchants, which accept payments via Yandex.Checkout, can also offer consumers fast and convenient contactless payment via Apple Pay.[20] With Touch ID there is no need to manually fill out lengthy payment forms or repeatedly type in billing information.

More than 4 million users have downloaded the Yandex.Money mobile app. 35% of them use an iOS device.[21] Using the app, they can transfer funds via iMessage,[22] pay bills — such as utilities, internet, mobile services — make loan payments, access their most frequent payments, and more.[23] Users can also download the Yandex.Money app on Apple Watch.[24] Yandex.Money mobile application Yandex.Fines for iOS implemented a new feature, which enables paying for traffic fines via Apple Pay.[25]

According to a June 2015 public opinion survey, Yandex.Money is widely known in Russia. In a survey conducted by TNS, 92 percent of Russians are familiar with the service, and 44 percent regularly use Yandex.Money to make payments.[11]

The company's headquarters are in Moscow, Russia. It has branch offices in Saint Petersburg and Nizhny Novgorod. Ivan Glazachev is Yandex.Money Chief Executive Officer. He became the head of the company on 1 March 2017.[26]

References

  1. ^ "TNS Report 2015: Online Payments in Russia - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  2. ^ "Yandex and Sberbank Announce Joint Venture for Electronic-Money Solutions". Money.yandex.ru. Retrieved December 19, 2012.
  3. ^ "Yandex.Checkout: payment system for online stores and other services". checkout.yandex.com. Retrieved 8 May 2017.
  4. ^ "Most Popular Payment Solutions Among Online Stores: Russia 2015 - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  5. ^ "What is Yandex.Money? - The Fintech Times". thefintechtimes.com. Retrieved 8 May 2017.
  6. ^ "Global Online Retail Marketplace AliExpress Now Accepting Yandex.Money". Internet Retailer. Retrieved July 16, 2014.
  7. ^ "Yandex.Money Becomes Payment Operator for JD.com - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  8. ^ "Yandex.Checkout to provide payments for BlaBlaCar in Russia - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  9. ^ "Яндекс.Деньги". money.yandex.ru. Retrieved 8 May 2017.
  10. ^ "Mobile Apps - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  11. ^ a b "TNS Russia Studied the Popularity of E-money - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  12. ^ "Profiling Users of E-Payment Systems in Russia 2015 - Russian Search Marketing". 16 June 2015. Retrieved 8 May 2017.
  13. ^ "Nintendo starts selling digital games in Russia through Yandex". Venture Beat. Retrieved October 3, 2014.
  14. ^ "Yandex.Checkout To Expand Collaboration With Riot Games - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  15. ^ "FIFA 17 is now available in Russia through Yandex.Money - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  16. ^ "Yandex.Money to Distribute Blizzard Entertainment Virtual Cards in Russia - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  17. ^ "Yandex.Money Bank Card - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  18. ^ ""Яндекс.Деньги" начали выпускать собственные банковские карты". Российская газета. Retrieved 8 May 2017.
  19. ^ "Apple Pay comes to Yandex.Money customers via MasterCard". www.thepaypers.com. Retrieved 8 May 2017.
  20. ^ "Yandex.Checkout to provide websites, apps with Apple Pay". www.thepaypers.com. Retrieved 8 May 2017.
  21. ^ "Yandex.Money Brings Apple Pay to Customers - Yandex.Money". money.yandex.ru. Retrieved 8 May 2017.
  22. ^ News, East-West Digital (12 October 2016). "Yandex.Money introduces money transfers via iMessage". Retrieved 8 May 2017. {{cite web}}: |last= has generic name (help)
  23. ^ "Yandex.Money: online payments - Android Apps on Google Play". play.google.com. Retrieved 8 May 2017.
  24. ^ "Yandex.Money to Launch Payments via Apple Watch - PaymentsJournal". www.paymentsjournal.com. Retrieved 8 May 2017.
  25. ^ "Yandex.Money Enables Users to Pay for Traffic Fines via Apple Pay". 12 December 2016. Retrieved 8 May 2017.
  26. ^ https://financialit.net/news/people-moves/ivan-glazachev-new-ceo-yandex-money
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