Now, Yandex.Money’s 22 million users can have Ebates.ru cashback rewards sent directly to their e-wallets. The Russian stores make up almost 20% of stores offering cash back rewards via Ebates worldwide. Among them is China’s AliExpress (part of the Alibaba Group).
Currently, Ebates.ru works with more than 575 online stores, where users can earn cash back, according to the company’s annual report. To date, Ebates worldwide members have earned USD 427 million in rewards since 1998. In Russia, users can receive up to 16% cashback reward on their purchases when they have the reward sent to their Yandex.Money e-wallets. Ebates.ru processes payouts every three months.
The volume of the Russian ecommerce market has increased by 31% in 2014 and its total volume grew close to USD 12 billion, according to research by AKIT. In addition, almost every other Russian user has made some purchases online, AKIT estimated. Yandex.Money is the largest payment service in Russia, according to a TNS survey in 2015.
The service hosts about 22 million user accounts with about 12,000 new accounts opened daily. The service also offers online stores Yandex Payment Solution for accepting online payments by all the methods most popular among residents of Russia and other CIS countries: credit cards, e-wallets, mobile billing through the top Russia/CIS providers, and cash via over 170,000 cash-acceptance points all over Russia. Currently, over 76,000 online stores use Yandex Payment Solution.
Ebates.com started its international expansion with Canada and then made a move toward Asia (China, Korea, and Singapore). Russia became the first European country, where Ebates operated on a substantial level, launching a website, adopting local currencies and collaborating with online merchants. In 2014, a Japanese online retail company, Rakuten, acquired Ebates for USD 1 billion.
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