Yandex e-currency enables fund transfers to Visa and MasterCard accounts
The users of Yandex.Dengi, which translates to Yandex.Money, can now transfer funds from their Yandex electronic currency accounts to any bank account with a Visa or MasterCard card. Funds can be transferred to the user’s own account or to any other account of their choice, the Russian search giant Yandex announced last week.
After the site authenticates their identity, Yandex.Dengi users can transfer up to 75,000 rubles, or approximately $2,500, per transaction to a bank card account. In accordance with Russian law, the transfer amount is limited to 15,000 rubles, or about $500, per transaction for unidentified users. Yandex.Dengi’s commission fee amounts to 15 rubles plus 3% of the transaction value.
Conversely, since early 2011, Yandex.Dengi users have been able to register their bank cards to make online purchases using Yandex.Dengi.
- The total volume of Russian e-commerce reached 310 billion rubles, a little more than $10 billion, last year. EWDN’s study on Russian e-commerce, which includes an in-depth chapter on electronic payments, will soon be available. To receive a free Executive summary or to order the full version, please contact us at email@example.com.