MOSCOW, Oct. 10, 2013 (GLOBE NEWSWIRE) -- Yandex.Money now offers a universal payment solution for internet merchants, businesses or organisations. Using this solution, any online store, vendor or charity in Russia (and some other countries) can easily add all the most popular payment methods to their website and expand payment opportunities for their clients. Yandex.Money's universal payment solution includes payments with a bank card, Yandex's electronic money, cash transactions via payment terminals and mobile payments.
"The easier it is to pay for a product or service, the higher is the likelihood for a website visitor to become a paying client. Some may have a zero balance on their e-money account, others may not have their bank card at hand, still others may find it easier to just use their mobile balance for a quick, inexpensive purchase. It's always good to have options," says Dmitry Danilenko, CCO of Yandex.Money. "Conversion dynamics after our new universal method of payment is introduced will vary depending on the type of business, of course. According to our estimates, it may boost the existing conversion rate of an online business by 10-30%."
Yandex.Money's universal payment solution supports MasterCard and Visa, including Maestro and Visa Electron cards (if online payments are allowed by the bank, which issued the card). Cash payments in Russia can be made via one of over 170,000 payment terminals. Mobile payments are offered to clients of Beeline, MegaFon, MTS and Tele2. Customers do not pay any fees on payments made with a bank card, e-money or cash.
To start using Yandex.Money's payment solution, internet merchants only need to sign an agreement (or an addendum to the agreement if it already exists) with the company, receive the code for payment buttons and add it to their website.
Yandex (Nasdaq:YNDX) is one of Europe's largest internet companies, providing the world with search and online services one market at a time. Yandex's mission is to help users solve their everyday problems by building people-centric products and services. Based on innovative technologies, the company offers the most relevant, locally tailored experience on all digital platforms and devices. Yandex is the leading internet search service in Russia with 61.6% of the country's search market (according to LiveInternet, June 2013) and a monthly audience of 54.3 million (according to comScore, May 2013). Yandex also operates in Turkey, Ukraine, Belarus and Kazakhstan. More information about Yandex can be found at http://company.yandex.com.
Yandex.Money is the largest electronic payment system on the Russian internet, offering easy, safe and reliable payment methods for paying for purchases online. Every day, the system adds more than 9,000 new accounts to its user base of more than 14 million (as of July 2013) and handles over 120,000 payments for products and services. According to TNS, Yandex.Money is Russia's best-known payment service, with 84% of the Russian population having heard of it and 17% making payments with Yandex.Money at least once in six months. Currently, Yandex.Money is accepted in over 50,000 internet stores in Russia, Ukraine, Belarus and Kazakhstan.
CONTACT: Investor Relations: Greg Abovsky, Katya Zhukova Phone: +7 495 974-35-38 E-mail: askIR@yandex-team.ru Press Service Ochir Mandzhikov, Vladimir Isaev Phone: +7 495 739-7000 E-mail: email@example.com