Yandex.Checkout Adopts New Technological Platform

by PaymentsJournal 0

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Russia’s leading payment aggregator Yandex.Checkout has launched a new technological platform that will help companies accept online payments faster than before, use the special offer system to increase sales, and receive key business analytics.

Yandex.Checkout’s technological platform is based on the new API. Thanks to it, merchants can set up online payments in all the popular ways: from bank cards, from e-wallets, by direct carrier billing, via online banking and via Apple Pay (coming soon). The API also enables merchants to use Yandex.Checkout special features — for instance, bank cards linking, payment hold, refunds or online cash registers support. Any company can activate all payment methods and functions at once, or select only some of them. The activation process happens in a ‘one-window’ mode, according to a single technical protocol, reducing the activation time by 1.5 times for payments, and threefold for special functions.

Yandex.Checkout has also introduced an offer system, a new tool to help online stores and other services attract new customers and increase sales. Companies need to upload an offer to Yandex.Checkout — for example, a gift for a purchase or a discount on goods — and it will be shown to the user once they pay via Yandex.Checkout at any other online marketplace. Yandex.Checkout sorts offers to users depending on their personal preferences, using technology based on machine learning. The store pays a fee to Yandex.Checkout only if the customer visits their website and uses the offer. There’s no fee for any customer returns after that. Test results have shown that the offer system helps small online stores increase sales by an average of 20%.

Additionally, Yandex.Checkout clients can now access payment statistics for any period from their dashboard. Total revenue data, sales data, and the average receipt statistics will be useful in basic accounting management or evaluation of marketing campaigns effectiveness. Refunds statistics will help evaluate the quality of production and suppliers.

‘The primary goal of Yandex.Checkout is to provide the most advanced payment and marketing technologies to a wide range of companies. Our new technological platform helps us achieve this goal. Not only it saves time and resources for merchants who would like to activate all the features of Yandex.Checkout, but also brings in additional profit. Interesting offers will help attract new customers, and analytical tools will quickly and accurately assess the effectiveness of the company’s marketing decisions,’ says Alexander Magomedov, Yandex.Money Chief Commercial Officer.

According to data provided by Nielsen, the share of popular products sold via promotional campaigns is growing. In the first six months of 2017, it was 58%, and a year earlier the figure was lower, at 54.5%. Most often, customers prefer to use discounts for laundry detergents (85%), fabric softeners (84%), rum (74%), whiskey (69%), dishwashing liquids (65%), soft drinks, and chocolate bars (64% each). The top of the most sold products at discount continues with shower gels (62%), shampoos (60%), coffee (59%), juices and tequila (58% each).

About Yandex.Checkout

Yandex.Checkout is the leading service for accepting online payments in Russia, according to MARC 2017 survey. With this payment solution, merchants from all over the world can offer Russian consumers all online payment methods popular among Russians and CIS-citizens: bank cards, online banking, e-wallets, mobile phones, and cash via mobile retailers and payment kiosks. Currently, 76,000+ online stores across the globe use Yandex.Checkout. The service helps to set up payment systems for websites and mobile applications, as well as billing systems via Telegram Bot, text messages, e-mail, chats, marketing email newsletters, and Viber.