Yandex.Checkout provides online stores with Google Pay
November 21, 2018
Over 90,000 Yandex.Checkout’s partners can now accept payments via Google Pay without any additional development required: the payment method becomes available to them as they send a request for it.
This year there has been a substantial grow in the number of Russian online payers preferring contactless payments: according to a Mediascope 2018 report, this rate has increased from 10.2% in 2017 to 36.3% in 2018.
«Nowadays, customers use smartphones to pay for more than 20% of purchases at offline retail outlets. Now they can pay the same way online—and they don’t even have to take the bank card out of the wallet. We’re sure that the number of frictionless payments via digital wallets will keep growing,» says Dmitry Polozov, Head of Product Development at Yandex.Money.
«We witness a growing interest in Google Pay from Russian users, so we’re very pleased to announce our partnership with Yandex.Checkout that made our service even more convenient. The list of stores accepting payments via Google Pay has instantly expanded to include tens of thousands more websites, which is a major step for us and a convenient feature for users,» adds Emil Bayazitov, Head of Payment Products Development at Google in Russia.
This development will help companies increase the conversion rate as Google Pay doesn’t require the user to enter their payment details at every checkout, eliminating the possibility of typing errors. All the user needs to do is link a bank card to the system, and they’ll be able to pay for purchases without entering the bank card details anywhere else.
To pay via Google Pay for a purchase at an online platform partnering with Yandex.Checkout, customers need to select it as the payment method, then select the preferred linked card, and confirm the payment. If the customer uses an Android device with the Google Chrome browser, they won’t even have to confirm each payment via the 3-D Secure technology—a one-time password from the bank. Yandex.Checkout doesn’t charge a commission from users for payments via Google Pay.
Yandex.Checkout also provides its partners with Apple Pay as a payment method.
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, and 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.