Users Can Integrate Bank Cards into Yandex.Money

Internet, February 28, 2011. Yandex.Money, the largest online payment system in Russia, provides a tool for making fast and easy online payments using a bank card integrated with the user’s Yandex.Money account. The service does not charge a commission for payments made with a bank card issued by any bank operating in Russia.

When shopping online, the users of Yandex.Money can now pay with their cards without providing their details. This solves the problem of trust and saves the users the hassle of typing the card numbers each time they have to pay for something. All they have to do is link their card to their Yandex.Money account and, from that moment on, make their online purchases without trying to remember their card number or worrying each time about how trustworthy the shopping site is. Yandex.Money will make quick and safe payment transfers from the user’s card account to the web shop.

Bank card holders can register their card with the Yandex.Money account at any convenient time without even leaving home. After that, they will only need to provide their CVV/CVC code printed on the back of the card to confirm the payment. Yandex.Money accepts cards issued by any bank operating in Russia.

“About 90% transactions involving bank cards in Russia are cash withdrawals,” says Jane Zavalishina, CEO of Yandex.Money. “It’s a bit weird that people first have to withdraw cash from their bank account to convert it into virtual money then to avoid fraud. Now, the users of the Yandex.Money service can make their payments directly without worrying about scam risks.”

After integrating their bank card with their Yandex.Money account, users can pay for telephone and internet connection, TV subscription, books, music, tickets and thousands of other products and services available in web shops partnering with Yandex.Money.

Yandex.Money is the largest online payment system operating in the ruble segment of the e-payment market. Every day, the system adds on average over 8,000 new accounts and has 80,000 payments for products and services including web hosting or mobile services, clothes or tickets for events.

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