Yandex.Money, Sberbank bring online stores a new method of accepting payments

Monday 19 January 2015 15:08 CET | News

Russia’s online payment service Yandex.Money and Eastern European bank Sberbank have joined forces to offer online stores a new online payment method: text message payments on Sberbank’s Mobile Bank interface.

Via the new service, online shoppers can complete a purchase even without a credit card. A user 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.

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. The service 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.

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Keywords: Yandex.Money, Sberbank, online stores, online payment, mobile bank interface
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce