Competitor Profile: Yandex.Money

Competitor Profile: Yandex.Money

Summary

Yandex.Money is one of the most popular payment solutions in Russia. It was launched in July 2002 as a joint venture between Yandex and PayCash Group, before Yandex later became the sole owner. However, Yandex sold a 75% stake in Yandex.Money to Sberbank in July 2013 and is now a minority stakeholder.

Yandex.Money allows users to make both online and offline payments as well as peer-to-peer (P2P) fund transfers. It offers online checkout through Yandex.Checkout, allowing online merchants to accept payments via the Yandex.Money wallet and linked bank cards, as well as other payment options such as online banking, cash, and carrier billing. Alternatively, users can make payments by scanning the QR code on merchants’ sites via the Yandex.Money mobile app.

Users can make in-store payments by scanning QR codes or using Mastercard-branded Yandex.Money cards. Users can also add these cards to other wallets such as Apple Pay, Google Pay, and Samsung Pay.

Users can add funds to the wallet via payment cards, online banking, carrier billing, cash acceptance points, point-of-sale terminals, supported bank branches, ATMs, and post offices. The funds available in the wallet can also be withdrawn from partnered banks’ ATMs using Yandex.Money cards.

The report provides information and insights into alternative payment solution Yandex.Money, including:

• Detailed insight into its business and geographical presence
• Comprehensive coverage of its products and services
• Comparative assessment with key alternative payment solutions
• Information on its revenue model
• The company's important events and milestones

Scope

• In July 2002, Yandex.Money was founded as a joint project of Yandex and PayCash Group.
• Yandex.Money offers Yandex.Checkout, allowing online merchants to accept payments via various payment methods.
• In December 2018, partnered with Garmin, allowing users with Yandex.Money physical and virtual cards to pay via Garmin Pay.
• In June 2019, Yandex.Money introduced a new service for multi-currency accounts and cards. In addition to rubles, the service allows users to pay in 10 foreign currencies.

Reasons to buy

• Gain insights into Yandex.Money's business operations, and key events.
• Gain insights into its product portfolio and revenue model.
• Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.