Yandex.Checkout enables online stores and service providers to accept payments with cards issued by foreign payment providers, such as American Еxpress, JCB, and Diners Club. This new option is convenient for businesses working with foreign clients including tourists, non-residents, or customers from abroad served on a remote basis.
“It is important for Yandex.Checkout to provide online stores and service providers with a variety of opportunities to sell goods and services to the widest possible audience of buyers, including non-resident ones. Now Yandex.Checkout enables its merchants to accept online payments with cards issued by American Еxpress, Diners Club, and JCB. It facilitates the expansion of their business abroad and increases potential audience”, says Alexander Magomedov, CCO at Yandex.Money.
American Еxpress is an American financial services corporation that has issued over 112 million cards accepted at 18 billion stores worldwide. JCB is a payment system based in Japan—32 million merchants in 190 countries accept JCB cards. Diners Club International cards are accepted at 28 million stores in 185 countries.
According to Yandex.Checkout statistics, owners of American Еxpress, JCB, and Diners Club cards demonstrate an increasing demand for goods and services provided by Yandex.Checkout’s merchants: the amount of payment requests from them doubled in January-September 2018 compared to January-December 2017. Now any store partnering with Yandex.Checkout can offer an easy and convenient payment option to American Еxpress, JCB, and Diners Club clients.
No commission is charged from the owners of American Еxpress, JCB, and Diners Club cards when they purchase via Yandex.Checkout. To start accepting payments from these cards, a Yandex.Checkout’s partner needs to enter into a supplementary agreement. This new payment option is developed by Yandex.Checkout in cooperation with Russian Standard Bank.
Yandex.Checkout is the leading service for accepting online payments in Russia, according to a 2018 survey by MARC. Yandex.Checkout received the Emerging Payment Award at the Merchant Payments Ecosystem conference (Berlin) in 2017. With this payment solution, merchants from all over the world can offer Russian consumers the online payment methods most popular among Russians and CIS-citizens: bank cards, e-wallets, mobile phones, and cash via mobile retailers and payment kiosks (there are over 250 thousand cash-acceptance points all over CIS). Currently, more than 90,000 online stores across the globe use Yandex.Checkout.
Yandex.Checkout was launched by Yandex.Money in 2013. Yandex.Money is the joint venture of search engine Yandex (NASDAQ: YNDX), and Sberbank, the largest bank in Russia.