Russian "Yandex-offshore" for the U.S.A., China and Europe

The Yandex Company announced that on September 13, users of the Yandex payment system would be able to transfer funds from their electronic purses in such countries as the U.S.A., China, Britain, France, Germany, Spain, etc.

Source: ITAR-TASS

The Yandex Company announced that on September 13, users of the Yandex payment system would be able to transfer funds from their electronic purses and bankcards tied to these, directly to bank accounts of individuals and legal entities in such countries as the U.S.A., China, Britain, France, Germany, Spain, etc.

In total, more than 200 countries are accessible for transfers. The fee for the operation will be 3% from the transferred amount, plus 15 rubles.

“Russian users are spending more money abroad. They are paying for goods, services, online games, and transferring money to their relatives,” the press service of the company explains.

According to the Central Bank of Russia, only last year, Russians transferred abroad about $28.5 billion, most of which went to Switzerland, China, U.S.A., the UK and Germany.

Yandex money is among the three largest payment systems in Russia, along with WebMoney and QIWI Purse. These three companies account for 90% of all electronic money transfers in the country.

This growing consumer demand for operations with electronic money is attracting new players to this field. An increasing number of Russian lending agencies are adding online transactions to the range of services they offer.

However, despite these statistics, indicating that every 15th resident of Russia pays for his purchases using electronic money, and more than 20 million people have electronic purses, the majority of Russians have never used an electronic payment system.

The bulk of electronic remittances are carried out by foreign nationals, living or working in Russia.

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