Yandex.Money and Sberbank Bring Online Stores a New Method of Accepting Payments
January 19, 2015
Russia’s largest online payment service—Yandex.Money—and the largest bank in Eastern Europe—Sberbank—are the first in Russia to offer online stores a new online payment method: text message payments on Sberbank’s Mobile Bank interface. Now it takes online shoppers just a few moments to complete a purchase even without a credit card handy. A user simply specifies his phone number on the store’s website and confirms payment by sending a text message to Mobile Bank’s short number—900. The payment method is available to users commission free.
Online stores can sign up for the new payment method as part of the Yandex Payment Solution.
“Nowadays users are accustomed to doing routine tasks on their smartphones,” said Yandex.Money’s Chief Commercial Officer Dmitry Danilenko. “Payments are no exception. On Mobile Bank, users can make quick, convenient, and secure payments. This progressive payment method is the way of the future. I am certain it will soon become an e-commerce standard, not only within Russian but all over the world.”
In all, Sberbank provides services for over 110 million account holders in 22 countries.
In addition to payments via Mobile Bank, Yandex Payment Solution has added another payment method: through Sberbank’s Online Banking interface.
Yandex.Money has been offering its payment solution to online stores since October 2013. It is a unique service that allows online stores to accept payments by bank card, from bank accounts via various online banking services, from Yandex.Money and WebMoney e-wallets, and in cash via 170,000 deposit locations, including mobile retail outlets, payment kiosks, and Sberbank ATMs. Currently, more than 75,000 online stores are using the Yandex Payment Solution.