UK based payment processor Earthport has joined hands with Yandex.Money in Russia and the CIS, to offer wider international payment options to their customers.
The alliance will facilitate the users of Yandex.Money’s e-wallet to access a new range of flexible, cost-effective and highly reliable international payment services, the firm said.
Yandex.Money customers can now make a payment to bank accounts directly in all Earthport supported geographies through the globe from their electronic wallet, Earthport claimed.
A research report underlines that electronic payments, including international online purchasing, have been developing progressively in the past few years in Russia and the CIS, with the number of active e-wallets in Russia growing by 50% in 2010.
Yandex.Money CEO Jane Zavalishina said it has always been vital for the firm to stay ahead of the curve and offer a wide range of relevant services and superior customer experience.
"We were able to easily embed the Earthport service into our existing systems, providing our customers with a seamless service to transfer money internationally. We chose Earthport as they were able to demonstrate their market leading cross-border payment expertise and a clear understanding of our market," Zavalishina added.
Earthport CEO Hank Uberoi said, "We are excited to work with Yandex.Money to deliver an exceptional service for their customers. Our innovative international payments platform involves minimal upfront investment and fits perfectly with Yandex.Money’s aims to make electronic payments easier, safer and more transparent."
Russian electronic payment system Yandex.Money had over 11 million accounts as of mid-2012.