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Yandex Money - Competitor Profile

Yandex Money - Competitor Profile

  • July 2020
  • 20 pages
  • ID: 5949731
  • Format: PDF
  • GlobalData

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Yandex Money - Competitor Profile

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. In June 2020, Yandex announced it would sell its remaining 25% stake in Yandex.Money to Sberbank. Once the deal is completed, Sberbank will become the sole owner of Yandex.Money.

Yandex.Money allows users to make both online and offline payments as well as 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, Samsung Pay, and Garmin Pay.

Users can add funds to the wallet via payment cards, online banking, carrier billing, cash acceptance points (mobile retailers and payment kiosks that accept cash) , point of sale terminals, supported bank branches, ATMs, and post offices. The funds available in the wallet can also be withdrawn from partner banks’ ATMs using Yandex.Money cards. In January 2020, Yandex.Money partnered with the Central Bank of Russia to connect Yandex.Money with the Faster Payments System, enabling Yandex.Money users to send and receive instant transfers from users of 36 banks covered under the system.

The report provides information and insights into Yandex.

Money including -
- Detailed insight into its business
- Comprehensive coverage of its products and services
- Comparative assessment with key alternative payment solutions
- Information on its performance, including its revenue model
- The company’s important events and milestones

Scope
- In July 2002, Yandex.Money was founded as a joint project between Yandex and PayCash Group.
- In July 2013, Yandex sold a 75% stake in Yandex.Money to Sberbank; the joint venture continued to operate under the Yandex.Money brand name.
- In May 2020, Yandex.Money launched split transactions service, enabling online platforms and marketplaces to automatically split money between multiple sellers whose products were paid for in a single transaction.
- In June 2020, Yandex announced it would sell its remaining 25% stake in Yandex.Money to Sberbank for RUB2.4bn ($38.7m). The deal is expected to close in Q3 2020.

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.

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