Yandex Money Adds More Options For Topping Up Online Accounts

June 16, 2010, 2:48 p.m. EDT 1 Min Read

Yandex Money Ltd. has launched a program to enable users of its online-payment service to deposit cash into their electronic wallets using credit and debit cards issued by any Russian bank, the Moscow-based company announced June 9.

Yandex’s online-payment system enables consumers to pay for goods and services on the Internet. Users have to sign up with the provider to get an account that is tied to an electronic wallet. They can then use the wallet to shop at registered online retailers.

The company says it charges 3.25% of the deposit amount as a commission. Customers must use an Alfa Bank ATM to top up their accounts, though they may use any Visa or MasterCard issued domestically to do so. Previously, they could top up their Yandex Money accounts using only cards issued by Russia’s Otkritie Bank Ltd., RosEvroBank Ltd. and Alfa Bank Ltd.

Customers may deposit no more than 5,000 rubles (US$169 or 126 euros) per day and 30,000 rubles per month.

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