Yandex.Checkout fosters online charity in Russia running a service for donating spare change
September 5, 2018
On the International Day of Charity, Yandex.Checkout is introducing a service allowing customers to automatically round up receipts and donate spare change to charity with every online purchase. Yandex.Checkout becomes the first Russian payment aggregator to provide users with this type of donation tool as well as the tech-empowered idea to support charitable giving in Russia with a systematic approach.
Yandex.Checkout offers online stores to seamlessly embed the feature giving their customers an option to round up their receipts when making card payments for a purchase. Yves Rocher is the first online store and Yandex.Checkout’s partner to provide its customers with this opportunity. The proposed donation amount starts at 10 rubles (approximately $0.15) and is calculated from the difference between the transaction receipt and the nearest round number multiple of 100. All donations are secured by Yandex.Checkout’s antifraud system and sent to the charity foundation set up by the famous Russian actor Konstantin Khabensky.
According to the Yandex.Checkout analysts, the number of Russians donating to online charities and crowdfunding websites has increased by 40% in the first six months of 2018 in comparison to the same period of 2017. The total amount of online donations has also significantly increased within a year: in the first six months of 2018, Russians made 25% more donations than they did within the same time span of 2017.
Online charity in Russia is driven by the growth of cashless transactions and the boost of online payment technologies. Yandex.Checkout cooperates with a number of charity foundations worldwide, and provides a variety of methods to donate money: online charitable fundraising tools, such as ready-made fundraising pages for individuals and payment page constructors for websites, as well as the special crowdfunding service yasobe.ru.
Yandex.Checkout is the leading service for accepting online payments in Russia, according to a 2018 survey by MARC. Yandex.Checkout received the Emerging Payment Award at the Merchant Payments Ecosystem conference (Berlin) in 2017. With this payment solution, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and CIS-citizens: bank cards, e-wallets, mobile phones, cash via mobile retailers and payment kiosks (there are over 250 thousand cash-acceptance points all over CIS). Currently, more than 90,000 online stores across the globe use Yandex.Checkout.
Yandex.Checkout was launched by Yandex.Money in 2013. Yandex.Money is the joint venture of search engine Yandex (NASDAQ: YNDX), and Sberbank, the largest bank in Russia. Yandex.Money also offers consumers easy, safe, and reliable methods of paying online on its own site and mobile app. The service hosts about 35 million user accounts. Yandex.Money is the largest electronic payments service in Russia, according to a 2017 survey by Mediascope.