According to the company’s representatives, Yandex.Money got some inspiration from such pioneering western operators as N26 and Circle. In order to send money to someone, Yandex.Money users need to choose the person from their iMessage contacts, and specify the amount to be transferred. When receiving the confirmation request via iMessage, the sender must enter their Yandex.Money app password to complete the transfer.
Furthermore, users may also create a group chat to collect funds for a joint purpose. When they select the “collect money” function — without leaving the messenger, all group participants will receive a special notification and be able to transfer the money directly from the chat window. They also see how much money has already been raised in real time. This feature is intended for friends pooling money to go to a restaurant, for example.
A recent study by conducted by Yandex.Money revealed that the number of online money transfers grew by 74% in 2015, while the number of people sending money online rose by 37%.
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