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Yandex.Money has entered into a partnership with MasterCard.
The partnership means that Yandex.Money users will now be able to pay online at any of the 250,000 online stores in Russia that use MasterCard’s online payment platform.
Yandex.Money is a popular online payment system in Russia, where it has over 22 million users, and around 12,000 new users joining every day. The number of payments going through Yandex.Money has increased by 50% in the last year.
The Russian B2C ecommerce market is worth an estimated 23 billion US dollars, with a digital buyer penetration rate of 42%.