Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’ The company says the transition will be completed by mid-December, 2020, reports East-West Digital News (EWDN).
As for domestic operations, they are now run under the brand of ‘YooKassa.’
These changes are coming as a result of the company’s full acquisition by Sber. In June this year, the state-controlled financial and technology giant agreed the acquisition of Yandex’s 25% stake in what used to be their joint venture.
Supporting some 20 online payment methods – from bank cards, to e-wallets, to contactless systems – YooMoney claims to serve 120,000 online platforms and mobile apps across the world with up to 4mn transactions per day. The company stands as the number one online payment service provider in Russia and Russian-speaking countries according to MARC’s 2019 ranking.
The PSP also offers loans and instalment plans for merchants to sell products and services instantly, a fraud detection system, and a contextual advertising service for marketing products and services online.
YooMoney is also a popular e-wallet, previously known as Yandex.Money, that serves over 60mn registered B2C customers.
This article first appeared in East-West Digital News, a partner of bne IntelliNews