The new checkout allows merchant websites to determine the preferred payment methods of a customer and present them with a faster, smarter payment process. Yandex Payment Solution will offer a user a new set of three payment methods, which are determined to be the most convenient for that user and which can include bank cards or various e-wallet services and online banking systems.
After the user confirms their preferred method, they will be presented with smart checkout at the time of their next purchase. They will only need to enter their cards CVV, an SMS code, or a password, depending on the payment method.
According to tests Yandex Payment Solution conducted with online stores, a new smart checkout method increases successful payment conversion rates by up to 10%. An easy payment process is important to consumers in Russia, just like anywhere else in the world.
WorldPay’s global surveys show that 65% of users may cancel a payment if they do not see any convenient payment methods on a website, and around 40% of respondents said that they will not even initiate a purchase if they dont notice any indication that their preferred payment method will be available at checkout.
Yandex Payment Solution offers all the payment methods most popular among Russian customers – bank cards, e-wallets, mobile billing, and cash via over 250,000 cash-acceptance points all over Russia. Currently, over 76,000 online stores in Russia, Europe, the US, and China use Yandex Payment Solution.
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