March 31, 2008

Yandex.Money Starts a Program for Banks

Internet, March 31, 2008. Yandex.Money, our proprietary online payment system, now offers a new method to top up e-accounts or withdraw funds using banking cards. Russian Development Bank (RDB) is the first to offer the new service to its customers.

Fund transfer to your Yandex.Money account is instantaneous and free of commission. All you have to do is register your banking card in the Yandex.Money system. Money transfer from your Yandex.Money account to your bank entails a 2% commission.

You are not required to disclose your card details or codes on the internet or at the Yandex.Money website: The banking card is activated via Russian Development Bank’s ATMs while Yandex.Money and the bank only require an e-account number to complete the transfer.

«In cooperation with Russian Development Bank we have designed a safe and reliable interaction system for facilitating transactions between plastic cards and e-wallets,” says Eugenia Zavalishina, the General Director of Yandex.Money. “Several other Russian banks are also prepared to join our project. We welcome the opportunity to cooperate with all market participants”.

Yandex.Money is a handy tool to make instant payments on the web. Every day the system registers more than 3,000 new accounts and processes over 20,000 payments for goods and services ranging from web-hosting and mobile communications to books and clothing.

Elena Kolmanovskaya, Chief Editor
Michael Ushakov, Head of Yandex PR
Phone: +7 495 739-70-00
Fax: +7 495 739-70-70

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