YooMoney branded as ЮMoney, formerly known as Yandex.Money (Russian: Яндекс.Деньги), is Russia's second largest electronic payment service after "Sberbank Online" according to a 2020 research by Mediascope. It is an online payment service that works with two types of clients — individual users and merchants.
The service was originally a joint venture of Russia's leading search engine Yandex (NASDAQ: YNDX), and Russia's largest bank Sberbank. Currently, Sberbank owns a 100% stake in the company. The program launched in 2002. With new stakeholders, Yandex.Money obtained access to a broad payment infrastructure of Sberbank including ATMs, terminals and online banking.
According to a June 2015 public opinion survey conducted by TNS, 92 percent of Russians are familiar with the service, and 44 percent regularly use Yandex.Money to make payments.
The company's headquarters are in Moscow, Russia. It has branch offices in Saint Petersburg and Nizhny Novgorod. Ivan Glazachev is Yandex.Money Chief Executive Officer. He became the head of the company on 1 March 2017.
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