Yandex.Money Offers Universal Payment Solution for Online Businesses and Organizations

Internet, October 10, 2013.

Yandex.Money now offers a universal payment solution for internet merchants, businesses and other organizations. Using this solution, any online store, vendor or charity in Russia (and some other countries) can easily add all the most popular payment methods to their website and expand payment opportunities for their clients. Yandex.Money’s universal payment solution includes payments with a bank card, Yandex’s electronic money, cash transactions via payment terminals and mobile payments.

“The easier it is to pay for a product or service, the more likely a website visitor will become a paying client. Some may have no funds on their e-money account, others may not have their bank card on hand, while still others may find it easier to just use their mobile balance for a quick, inexpensive purchase. It’s always good to have options,” says Dmitry Danilenko, CCO of Yandex.Money. “After our new universal method of payment is introduced, conversion dynamics will vary depending on the type of business, of course. According to our estimates, it may boost the existing conversion rate of an online business by 10-30%.”

Yandex.Money’s universal payment solution supports MasterCard and Visa, including Maestro and Visa Electron cards (if online payments are allowed by the bank that issued the card). Cash payments in Russia can be made via one of over 170,000 payment terminals. Mobile payments are offered to clients of Beeline, MegaFon, МТS and Tele2. Customers do not pay any fees on payments made with a bank card, e-money or cash.

To start using Yandex.Money’s payment solution, internet merchants just need to sign an agreement (or an addendum to the agreement if one already exists) with the company, receive the code for payment buttons and add it to their website.