Sberbank, Yandex.Cash launch B2B payments service

Tuesday 13 November 2018 00:34 CET | News

Russia-based Sberbank jointly with Yandex.Cash have unveiled a service called B2B payments, to streamline instant payment of goods and services.

Its main purpose is to solve the problem of mutual settlements between the companies and online stores and service providers. Informed customers – legal entities – had to be requested from online stores account and to wait a few days, then pay, creating bills manually. Online shopping, in turn, checked the flow of funds, looking at the statement in the Internet Bank.

Through the connecting service “B2B payments”, users will be able to place on its website a button for fast payment for legal entities. Clicking on this button, a company representative, the buyer will be in Internet banking for quick payment from the settlement account of the organization and will be able to pay all within a few minutes.

The service payment process will be shortened from 3-4 days to several minutes, and the store is immediately notified about the fact of payment. This became possible thanks to technologies from Sberbank and Yandex.Cash: on the side of the Bank, a mechanism was established Fintech API for quick integration of partner services, and Yandex.Cash made convenient, the infrastructure that will allow companies to quickly integrate the solution. At the moment, to use the service, the payer and the recipient need to have a current account of a legal entity or individual entrepreneurs in the savings Bank.

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Keywords: Sberbank, Yandex.Cash, Russia, B2B payments, internet bank, Fintech API, payments , business-to-business
Countries: World

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