Russian online payment system Yandex.Money has entered an agreement with Equifax, a consumer credit reporting agency, to enable online authentication for their customers.

Following this partnership, Yandex.Money users who have loaned money from a bank will be able to receive their Yandex.Money identification confirmation online.

Equifax has credit files for each customer of most Russian financial institutions. The process of remote authentication relies on Equifax obtaining responses to various questions from the system’s user. The authentication process is successfully completed only if the information obtained from the system’s user matches the one already available to Equifax. Yandex.Money does not gain access to the clients’ credit history, only Equifax will check the clients’ credit reputation.

Via authentication in Yandex.Money, a client is identified as the owner of a specific e-payment account. Equifax Credit Services provides credit organizations based in Russia with risk management, analytics and fraud detection services