Online Wallets for All Yandex Users

Internet, September 29, 2005. Today, millions of Internet users got access to the Yandex.Money system. Now the only thing you need to use an online wallet is a Yandex login.

Earlier, in order to work with Yandex.Money the user had to download and install a special application. Now there is no more need for this, as the same login is used for electronic payments and sending e-mails. A visitor authorized at Yandex will see both the state of his/her account and the number of e-mails at Yandex.Mail — and not just from mail.yandex.ru and money.yandex.ru, but also at other services of the portal. Payments can be managed from any computer and any browser via the web interface.

“Today, Yandex.Money became a full-fledged part of our portal,“ announced Arkadiy Volozh, Yandex CEO. “Now online payments are as easy to use as e-mail or web search. We created a system not just for Internet experts, but also for their bosses, secretaries, parents, and kids.“

Yandex.Money is a joint project of Yandex and PayCash, launched in summer 2002. Today, Yandex.Money is the largest online payment system in the ruble Internet segment. In August 2005, the monthly turnover in the system reached RUR 300 million, and the number of operations per day grew to 50,000.

“It took us three years to get ready to serve millions of users,“ comments Victor Dostov, the project leader of PayCash. “We have a reliable technology, a well-developed infrastructure, plenty of partners, and most importantly, vast work experience and system scaling capabilities.“

More than 1,000 sellers of goods and services are connected to the system of Yandex.Money.

Yandex.Money can be used to pay for the phone and Internet, TV and software, utilities and insurance, and to transfer the money to other members of the system. To transfer money, you only need to specify the recipient’s login at Yandex. After the new Yandex.Money is launched, the existing users of the system will be able to transfer their money to the new web-wallet free of charge.

Contact:
Media Relations
Vladimir Isaev, Ochir Mandzhikov
Phone: +7 495 739-7000
E-mail: pr@yandex-team.com