Yandex.Money is the largest electronic payments service in Russia, according to a 2016 survey by TNS. The service hosts about 28 million user accounts with about 15,000 new accounts opened daily. Yandex.Money also offers online merchants Yandex.Checkout. Currently, more than 76,000 online stores across the globe use Yandex.Checkout. Yandex.Money is trying to disrupt the existing ecosystem. People used to go to a bank to pay bills, wait in a line for a long time; today they can spend this time with their family while their e-wallet automatically pays their monthly utility bills, taxes, fines, etc. There is a perception that Russia is a cash-based country. However, the latest research by TNS demonstrated that paying for goods and services online is no longer uncommon for Russian consumers. Things are changing. Read more: thefintechtimes.com
