Yandex.Money to Launch Payments via Apple Watch

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Yandex.Money, the largest online payment service in Russia according to TNS,now offers users the ability to pay via the Yandex.Money app on Apple Watch.Users can top up their mobile phones or transfer money to friends right fromtheir wrist. The app also includes options for checkingthe balance of an account and receiving push notifications.

Apple Watch will show users all the payments they’ve saved in theirFavorites folder on the web or mobile version of Yandex.Money. Users can add asmany payment options as they want.

Yandex.Money also maintains mobile applications for iOS, Android, Windows 10,and Windows Phone. A study by AC&M Consulting showed that more than 12million users in Russia complete payments through mobile devices. They transfermoney to other users, pay bills, taxes, and fines, or shop online according toa 2016 TNS survey.

According to IDC, in 2015, Apple Watch held 60% of the smart watches market.In total, Apple sold around 12 million devices last year. By 2019, thefinal year of the forecast, total shipments are expected to reach 214.6 millionunits, resulting in a five-year compound annual growth rate of 28%.

Yandex.Money is the largest electronic payments service in Russia, accordingto a 2016 survey by TNS. The service is the jointventure of the search engine Yandex (NASDAQ:YNDX), and Sberbank. Yandex.Money offers consumers easy, safe,and reliable methods of paying online on its own site and mobileapp. The service hosts about 25 million user accounts with about 15,000new accounts opened daily. Yandex.Money also offers online merchantsYandex.Checkout. The service allows merchants to accept all the online paymentmethods most popular among Russians: credit cards,e-wallets, mobile billing through the top Russian providers, and cashvia over 250,000 cash-acceptance points all over thecountry. Currently, more than 76,000 online stores in Russia and CIScountries use Yandex.Checkout.