Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’ The company says the transition will be completed by mid-December, 2020.
As for domestic operations, they are now run under brand of ‘YooKassa.’
These changes are coming as a result of the company’s full acquisition by Sber. In June this year, the state-controlled financial and technology giant agreed the acquisition of Yandex’s 25% stake in what used to be their joint-venture.
Supporting some 20 online payment methods – from bank cards, to e-wallets, to contactless systems – YooMoney claims to serve 120,000 online platforms and mobile apps across the world with up to 4 million transactions per day. The company stands number one online payment service provider in Russia and Russian-speaking countries according to MARC’s 2019 ranking.
The PSP also offers loans and instalment plans for merchants to sell products and services instantly, a fraud detection system, and a contextual advertising service for marketing products and services online.
YooMoney is also a popular e-wallet, previously know as Yandex.Money, that serves over 60 million registered B2C customers.