YooMoney: Yandex.Checkout’s new name
November 19, 2020
Yandex.Checkout is making changes to its brand: the payment service provider will now operate in non-Russian markets under the name YooMoney. The company will complete the transition after 15 December 2020, and, up to that date, the new brand and the old one will be used simultaneously.
«YooMoney now serves 120,000 online platforms and mobile apps from 75 countries. It’s very important for us to improve our payment service capabilities and features and apply the advanced technology and convenience for the benefit of our partners,» says Ivan Glazachev, CEO of YooMoney.
YooMoney is the No. 1 online payment service provider in Russia and CIS according to the 2019 statistics provided by MARC. YooMoney supports around 20 online payment methods, including cards issued by banks in Russia and worldwide, electronic wallets, contactless methods such as Apple Pay and Google Pay, Internet banking, and more. YooMoney supports loans and installment plans allowing merchants to sell products and services with instant online application as well as online settlements between legal entities via the «B2B payments» service. In addition to the payment options, YooMoney also offers the Business market service for entrepreneurs, the FraudDetector system for protection against online fraud, and a contextual advertising service for marketing products and services online.
Sberbank, the largest bank in Russia and one of the leading financial institutions worldwide, acquired Yandex.Money’s entire share in June 2020. Since then, the company under the new brand YooMoney continues to grow as a part of Sberbank’s ecosystem, adding features and payment methods available to some of the ecosystem’s companies such as Sberbank ID, SberPay, PayQR, etc. The principal goal of YooMoney remains the same: the provision of qualified assistance to merchants with online payment acceptance and the development of their business using modern technologies.
YooMoney also serves over 60M registered e-wallets of B2C customers. YooMoney’s electronic wallet is the most popular across the runet according to a research conducted by Mediascope in 2020. YooMoney issues bank cards using the Mastercard and Visa payment systems which can be used to withdraw cash and make online and offline payments around the world, including via Apple Pay, Samsung Pay, Google Pay, etc.
Today, YooMoney is a company that: