YooMoney
YooMoney is a joint venture of Sberbank, the largest bank in Eastern Europe and the Internet company Yandex, operator of Russia’s leading search engine. It aggregates popular Russian and CIS payment methods in an e-wallet (formerly known as Yandex.Money).
Users can fund their YooMoney wallets in a variety of ways, including via bank transfer, card, mobile phone balances, cash or QIWI. They can then pay bills, taxes and fines, top up mobile phones, make money transfers and shop online. A mobile app is also available.
Only 20% of Russians have a credit card. And consumers use cards to pay for only half of all online purchases.
Other e-wallets operating in Russia include UnionPay, Skrill and PaySera.
The benefits of e-wallets in Russia
- If you don’t support alternative payment methods, half of all Russian e-commerce is closed to you.
- Russian pay for 29% of online purchases using e-wallets.
- Between 2021 and 2025, the e-commerce market will grow from US$55bn to US$116bn.
E-commerce and payments insights by country
Discover how the world pays for things by exploring our e-commerce reports. We have one for almost every country on the planet.
Regional payment guides
Interested in e-commerce reports by region
Dive into our regional data. Each one contains a mix of e-commerce and shopping behaviour insights.
Got a question?
The friendly folks in our Sales Team will be happy to help, whether you’ve got a question about an e-commerce market or want to know more about what we can do for your business.