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Mobile Payments

Yandex.Money extends contactless payment methods for its cardholders

Friday 7 December 2018 | 01:27 PM CET

Yandex.Money has introduced Garmin Pay to its cardholders, providing a new way of paying at offline stores in Russia.

The Yandex.Money virtual or plastic card tokenized in Garmin Connect mobile app makes it possible to pay at offline stores with a Garmin smartwatch. Thus, Yandex.Money supports five contactless payment methods: Apple Pay, Garmin Pay, Google Pay, Samsung Pay, and its own feature embedded into Yandex.Money app.

Nowadays, contactless payments are gaining rapid popularity in Russia, with 43% of Yandex.Money users preferring this payment method. Approximately 20% of offline payments are made with tokenized cards via smartphones and smartwatches.

An average check from a contactless payment with a Yandex.Money card is USD 6.8 across Russia and USD 8.3 in Moscow. The main categories of products purchased via contactless payments according to Yandex.Money stats are: department stores goods, household appliances, cosmetics, building supplies, electronics, books, tobacco products.

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