Yandex.Money Launches User Identification at Euroset

Internet, June 17, 2013. Starting from today, Yandex.Money users can undergo voluntary identification at any of more than 5,000 Euroset outlets across Russia. To identify themselves, all they need to do is fill out an application form and show their passport – a process that takes a few minutes.

Identification brings a range of advantages for Yandex.Money users. For example, while anonymous users face a single-transaction limit of 15,000 rubles, users who have identified themselves may make single payments of up to 100,000 rubles*. This means that big-ticket items such as an expensive notebook computer can be purchased using an identified Yandex.Money account. And because identified accounts are considered to be more trustworthy, they are advantageous when collecting donations for social or charitable causes.

“Yandex.Money already offers several methods of identification, but they have their limitations,” said Tatiana Shabanova, Chair of the Board of Directors of Yandex.Money. “With the help of retail chains we aim to make the process widely available. Our first partner in this initiative is Euroset, which has outlets in all Russian regions, so the new method of identification will be accessible to practically every user.”

“The practice of non-bank organizations, retail in particular, introducing financial products, helps make familiar processes more efficient and accessible,” said Victor Lukanin, the Vice President of Commerce at the company Euroset. “Thanks to our partnership with Yandex.Money, users of the popular payment service can now stop into one of our stores and very simply complete the process of identifying their account.”

Euroset charges a 50-ruble commission for completing the identification process for a Yandex.Money user. At the same time as paying this commission, users can also top up their electronic wallet – instantaneously and commission-free.

• This limits are set in accordance with federal laws No. 161-FZ “On the National Payment System” and No. 115-FZ “On Combatting Money Laundering and the Financing of Terrorism.”

Contact:
Media Relations
Vladimir Isaev, Ochir Mandzhikov
Phone: +7 495 739-7000
E-mail: pr@yandex-team.com