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Yandex.Money introduces money transfers via iMessage

Yandex.Money got some inspiration from such pioneering western operators as N26 and Circle, the company’s press service told East-West Digital News

Oct 18, 2016
Russian Apple aficionados using the Yandex.Money app can now send money to each other easily and directly through iMessage. This functionality was introduced last week for the first time in Russia.

To send money to someone, Yandex.Money users simply need to choose the person from their iMessage contacts, and specify the amount to be transferred. When receiving the confirmation request via iMessage, the sender must enter their Yandex.Money app password to complete the transfer.

Users may also create a group chat to collect funds for a joint purpose. All they have to do is select the "collect money" function — without leaving the messenger. All group participants will receive a special notification and be able to transfer the money directly from the chat window. They also see how much money has already been raised in real time. The feature is intended for friends pooling money to go to a restaurant, for example.

"These features became technically possible when Apple unveiled iOS 10, [its new] operating system for the iPhone, iPad, and iPod touch [in mid-Sept.] The iOS 10 introduced a wide range of enhancements for developers who want to extend the system in various exciting ways," Yandex.Money stated.

The money transfer feature is not available Apple device owners who did not upgrade their smartphone or tablet to iOS 10.

According to Yandex.Money indicates that 35% of Yandex.Money app users are also owners of one or several Apple devices. Just three months ago, Yandex.Money even made its app available on the Apple Watch, as reported by EWDN.

If the intended recipient of the money transfer does not have the Yandex.Money app, he or she will be instantly redirected to the AppStore to download the app

According to a recent study by Yandex.Money, the number of online money transfers grew by 74% last year, while the number of people sending money online rose by 37%.

A joint venture of Yandex and Sberbank, Yandex.Money claims 28 million user accounts with about 15,000 new accounts opened daily. The company also provides payment services to online merchants under the Yandex.Checkout brand. Currently, more than 76,000 online stores in Russia and beyond use Yandex.Checkout, according to the company.