Yandex.Money Introduces a Solution for Card-to-Card Transfers

July 3, 2014

Yandex.Money has launched a new service that allows for quick transfers from one card to another. Paying back a friend, sending money to family, or adding money to your bank card just got easier through this card-to-card transfer service. Users do not even need to open an e-wallet.

Users can transfer money by visiting Yandex.Money’s site (money.yandex.ru/card2card) or by downloading the Funds Transfers mobile app for Android or iOS. In either case, registration on the site is not necessary.

Using the service is simple. The sender will be asked for the following information: their card number, e-mail address, recipient’s card number, and transfer amount. Delivery speed depends on the sender’s bank. In most cases, however, funds are credited immediately.

When sending a transfer via the mobile app, users do not need to enter the card information manually; they can simply scan their card using their smartphone’s camera. The program will recognize the necessary information and fill in the appropriate fields, making on-the-go transfers especially easy.

The service supports 3-D Secure, an extra authorization step used requiring users to enter special passwords for card transactions. This prevents anyone but the cardholder from debiting funds.

“On average, every adult in Russia has more than two bank cards, yet only half of internet users have never used them for online payment,” says Product Manager Sergey Romensky. “We expect that such a simple and convenient service, which doesn’t require registration, could significantly increase the number of people who use the internet for everyday online transfers.”