On March 10, 2021, Yandex announced the launch of the YandexPay payment system. The service will be designed for non-cash payments. Users of Yandex accounts will have access to the innovation with the possible linking of Mastercard, Visa or Mir cards to it. This will make it easier to carry out payment transactions, since now the payment data will not need to be constantly entered: they will be automatically loaded by the program. The developers consider this option not only more convenient, but also safe.
Initially, the innovation will be available only on websites, then the company plans to release a mobile application, as well as an option for offline use. Alexander Golovin, head of the service, explains that it has long been possible to make payments through online payments for orders on the Internet through Yandex. The company’s time-tested technologies allow you to order a taxi or food. In the future, any company selling goods can add the YandexPay key to its online platform. To do this, it is enough to contact the aggregator of this payment system.
In June last year, Yandex divided the assets with Sberbank. The growing competition between the systems of the bank and the Internet company has led to this situation. After such events, the first got the Yandex.Money service, the second – Yandex.Market. As a result of the section, the electronic payment system was renamed into “YuMoney”.
The IT giant’s legal documents already mention the Yandex payment system. The service will compete with Apple Pay, Google Pay, Samsung Pay and even the domestic Mir system. The legal documents do not contain information about the launch date of the innovation. So far, the data is presented in a compressed form, the company does not reveal all the cards.
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