YooMoney – Competitor Profile
YooMoney (formerly Yandex.Money) is one of the most popular alternative payment solutions in Russia. It was launched as Yandex.Money 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 July 2020, Sberbank acquired the remaining 25% stake in Yandex.Money to become the sole owner of the company. Following the acquisition, Yandex.Money was rebranded as YooMoney.
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YooMoney allows users to make both online and offline payments as well as P2P fund transfers. It offers online checkout through YooKassa (previously known as Yandex.Checkout), allowing online merchants to accept payments via the YooMoney 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 YooMoney mobile app. Users can make in-store payments by scanning QR codes or using Visa or Mastercard-branded YooMoney 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 The funds available in the wallet can also be withdrawn from partner banks' ATMs using YooMoney cards. In January 2020, YooMoney partnered with the Central Bank of the Russian Federation to connect YooMoney with the Faster Payments System, enabling YooMoney users to send and receive instant transfers from users of supporting banks covered under the system.
The report provides information and insights into YooMoney including –
– Detailed insight into its business
– 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
– InJuly 2002, Yandex.Money was founded as a joint project between Yandex and PayCash Group.
– In February 2011, Yandex.Money launched a card payment service, allowing users to make payments through Yandex.Money with any bank card.
– In October 2015, Yandex.Money partnered with Mastercard to allow users to shop on foreign sites where Masterpass is accepted.
– In January 2020, Yandex.Money partnered with the Central Bank of the Russian Federation to connect Yandex.Money with the Faster Payments System. The system will enable Yandex.Money users to make and accept instant transfers from users of the 36 banks covered under the system.
– In July 2021, YooMoney launched YooSelf, a platform for self-employed individuals that helps them track revenue, taxes, and debt; pay taxes; and create invoices.
Reasons to Buy
– Gain insights into YooMoney's business operations and key events.
– Gain insights into its product portfolio.
– Assess the competitive dynamics in the alternative payments industry by comparing its performance against competitors.
Table of content
Table of Contents
Benefits of YooMoney
How it Works
Products and Services
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