Yandex Money Extending Its Reach in Ex Soviet Countries

Yandex, the leading Russian search engine, has started to expand their online payment system to other major CIS countries, Ukraine, Belarus, etc.

Yandex Money is a direct competitor to Paypal and seems to be growing nicely in Russia. Currently the system supports rubles, but does support many leading international online stores, such as iTunes App Store and Amazon.com.

Jane Zavalishina, CEO of Yandex.Money, is quoted as saying:

“People living in the CIS countries use the same internet services as people living in Russia. They make connections in social networks, chat, play games, read books and listen to music. Now, just like web users in Russia, web users in the CIS can pay for any of these and many other online services using Yandex.Money.”

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