What is Yandex.Money? Yandex.Money Review, Features

Yandex.Money was founded in 2002 and is an electronic payment tool under Yandex, Russia. It is a wholly-owned subsidiary of Yandex, Russia's leading online platform and search engine. Yandex.Money is Russia's first electronic payment system. After registration, buyers can recharge their wallets through payment terminals, electronic money, prepaid cards and bank transfers (bank cards) in all regions of Russia.

About Yandex.Money

Yandex.Money allows users to easily and securely complete Internet product payments, transfer money to others or receive money. To enhance transaction protection, Yandex.Money allows the use of a variety of security measures such as one-time passwords, protection codes, and pin codes, and sends relevant operation information to users via email or SMS.

Yandex.Money currently supports payment methods such as Yandex Wallet, bank cards, bank transfers, and cash.

Coverage: Russia, Belarus, Ukraine, Kazakhstan, Kyrgyzstan, etc.

Supported banks: Recharge is supported by payment terminals, electronic money, prepaid cards and bank transfer (bank card) in all regions of the Commonwealth of Independent States.

Supported currencies: RUB, EUR, USD, CNY, UAH, KZT, BYN.

Account Registration Process

1. Apply for Yandex.Money preparation tool:

(1) Prepare a foreign phone to receive the verification code. After testing, domestic mobile phones may not be able to receive the verification code when registering Yandex.Money.

(2) Prepare a foreign IP to open the registration page. The Yandex.Money web page is slow to access, so you need a tool that can access it. In addition, it is easier to register with a foreign IP, although as of now, you can also register directly with a domestic IP.

2. Go to the Yandex.Money official website, click Register an account, and fill in the username you want to register.

3. Fill in your phone number at the bottom of the registration page. The example here uses a US phone number.

4. Enter the phone page and receive the verification code.

5. Return to the Yandex.Money account registration page and fill in the verification you just received over the phone.

6. Complete the registration. You can see that your Yandex.Money account has been successfully logged in.

How to apply for a virtual MasterCard credit card from Yandex.Money

1. Enter the virtual MasterCard credit card application address, please click here and click to get a card.

2. Wait for a while and you will see a MasterCard number. Write it down.

3. At the same time, your phone will also receive the MasterCard's validity period and CVC number, which are important credit card information. If your number is temporary, be sure to write it down.

Things to note when applying

1. You can choose English during the registration process of Yandex.Money, but some places may still be displayed in Russian. You can use online translation tools.

2. Yandex.Money requires phone number verification when obtaining credit card information. If you use those free numbers, please remember to save your credit card information, otherwise it will be very troublesome later.

Payment Process

To pay with Yandex.Money, you only need four simple steps:

Step 1: Select Yandex.Money payment method on the website and click the payment button;

Step 2: Pay via a self-service terminal or online;

Step 3: Yandex.Money confirms payment completion;

Step 4: Return to your website and the transaction is complete.

Yandex Wallet Limits

Visa and Mastercard credit cards: no more than 250,000 rubles per transaction and no more than 500,000 rubles per month.

Mir card: No more than 5,000 rubles per transaction and 15,000 rubles per month.

Identified users: The single transaction limit is 250,000 rubles, the daily limit is 600,000 rubles, and the monthly limit is 3 million rubles.

Reviewed users: The upper limit for a single transaction is 60,000 rubles, the upper limit for a single day is 300,000 rubles, and the upper limit for a single month is 1 million rubles.

Anonymous users: The upper limit for a single transaction is 15,000 rubles, the upper limit for a single day is 300,000 rubles, and the upper limit for a single month is 500,000 rubles.

Features

1. Convenient recharge, real-time payment. You can recharge your wallet via payment terminals, electronic money, prepaid cards and bank transfer (bank cards), and the money will be credited to your account in real time.

2. No chargeback risk.

3. Support multi-currency transactions; each transaction cannot exceed US$10,000.

4. Wide range of use; it can be used in all countries of the Commonwealth of Independent States.

Development History

- In 2013, Sberbank, one of the largest banks in Eastern Europe, acquired a majority stake in Yandex.Money.

-In 2013, Yandex.Money launched Yandex.Checkout, a payment aggregator for online stores and other businesses that require payments on their online platforms.

- In 2015, Yandex.Money obtained MasterCard principal membership.

- In 2016, Yandex.Money issued more than 500,000 plastic cards and 11 million virtual MasterCards.

-In April 2016, online payment service Yandex.Money announced that it would add NFC to its Android app, allowing users to make contactless payments through the app.

-In May 2018, DHgate.com announced a comprehensive partnership with Yandex.Money, a Russian online payment platform.