MasterCard and Yandex.Money enable payments through MasterPass for Russians
October 16, 2015
MasterCard and Yandex.Money announced today a new partnership. Yandex.Money e-wallet and MasterPass™ are now connected and Yandex.Money users can do shopping on foreign sites where MasterPass is accepted—that is 250,000 online stores across 24 countries.
For MasterCard, a new partnership with Yandex.Money means that the company can extend the use of MasterPass to the 22 million customers of Yandex.Money service.
MasterPass was launched in 2013, and for the last six months, the number of payments via MasterPass has increased by 40% month over month. Currently, MasterPass is available in 24 countries including the UK, the US, Germany, China, and Turkey. Thanks to the partnership between MasterCard and Yandex.Money, online stores in Russia can also accept payments from Russian as well as international shoppers.
Yandex.Money is the largest payment service in Russia, according to a TNS survey in 2015. The service hosts about 22 million user accounts with about 12,000 new accounts opened daily. The service also offers online stores Yandex Payment Solution for accepting online payments by all the methods most popular among residents of Russia and other CIS countries: credit cards, e-wallets, mobile billing and others.
MasterCard (NYSE: MA) is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities—such as shopping, traveling, running a business and managing finances—easier, more secure and more efficient for everyone.