Yandex and Sberbank of Russia will jointly develop online payments based on Yandex.Money
Today, Sberbank of Russia and Yandex have announced a strategic partnership. The object of the transaction is the Yandex.Money company, which is now becoming their joint venture. Sberbank acquires 3/4 of its share capital in Yandex.Money for $ 60 million, Yandex holds a blocking stake (25% plus one ruble).
For the end users of the Yandex.Money service, everything technically and legally remains the same. They do not need to sign a new user agreement . The terms of service, opening and closing of accounts do not change, and identification does not become mandatory (but Yandex.Money is still recommended to remove some limits dictated by the new offer ).
After completing the documents, all users of money.yandex.ru will remain clients of the Non-Banking Credit Organization Yandex.Money, operating on the basis of a license from the Bank of Russia.
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The essence of the transaction is not in a merger , acquisition , purchase or transfer of rights . What happened is called a “Yandex.Money share sale transaction”. Yandex has a blocking package, because companies are interested in developing joint service with Sberbank. There is a difference between a financial partner and a strategic partner - and so, Yandex.Money looked for and found a partner of the second type.
New services Yandex. Money users will see in 2013. There will be no direct competition between the Yandex.Money and Sberbank products - as before, users will be able to choose the payment method and the platform that is more convenient for them at the moment. Yandex.Money will continue to do what they have always been doing - online payments, and new products will develop under the Yandex.Money brand.
The interface, brand, logo, team, office of the company remain the same. The team, however, is likely to grow.
All current partnership agreements with other banks and payment systems also remain in force: the Tinkoff Bank System continues to issue a Yandex.Money card , and you can replenish your Yandex.Money account with Alfa-Bank and OTKRYTIE cards attached to it .
Answering a question that has not yet been asked: the transfer of personal data from Yandex.Money clients to Sberbank is not planned. The system stores all data in accordance with the law “ On Personal Data ” and transfers it to its partners only with the consent of the client and in the framework of the provision of any service useful to the client. None of the current Yandex.Money services and products is transferred to Sberbank's “rails”. Identification methods remain the same; Your login and password remain with you.
What happened is not selling a business (Yandex.Money, by the way, makes a profit), but acquiring a new strategic partner with incredible reach, experience and product expertise. Sberbank of Russia is the largest bank in Eastern Europe, it has 100 million retail customers, and it wants to change and move towards electronic payments. At the negotiating stage, Yandex.Money met with a dozen potential partners, including investment funds, banks, international payment systems and telecom companies, but it was the strategy and common vision of Sberbank joint projects that turned out to be the closest companies.
As a result of this cooperation, new products will emerge that simply cannot create online and offline companies, even the best ones. The consolidation of major players in the financial market is a noticeable trend: the popularity of mPOS terminals is growing (which, in particular, Yandex.Money is being tested in Moscow as part of the Yandex.Kassa service), PayPal announced the launch of PayPal Wallet, Starbucks has teamed up with Square. Yandex.Money ranked first among electronic money and decided to go to a new level. Now they have the support of the largest players in the online and offline market in Russia.
For the end users of the Yandex.Money service, everything technically and legally remains the same. They do not need to sign a new user agreement . The terms of service, opening and closing of accounts do not change, and identification does not become mandatory (but Yandex.Money is still recommended to remove some limits dictated by the new offer ).
After completing the documents, all users of money.yandex.ru will remain clients of the Non-Banking Credit Organization Yandex.Money, operating on the basis of a license from the Bank of Russia.
')
The essence of the transaction is not in a merger , acquisition , purchase or transfer of rights . What happened is called a “Yandex.Money share sale transaction”. Yandex has a blocking package, because companies are interested in developing joint service with Sberbank. There is a difference between a financial partner and a strategic partner - and so, Yandex.Money looked for and found a partner of the second type.
New services Yandex. Money users will see in 2013. There will be no direct competition between the Yandex.Money and Sberbank products - as before, users will be able to choose the payment method and the platform that is more convenient for them at the moment. Yandex.Money will continue to do what they have always been doing - online payments, and new products will develop under the Yandex.Money brand.
The interface, brand, logo, team, office of the company remain the same. The team, however, is likely to grow.
All current partnership agreements with other banks and payment systems also remain in force: the Tinkoff Bank System continues to issue a Yandex.Money card , and you can replenish your Yandex.Money account with Alfa-Bank and OTKRYTIE cards attached to it .
Answering a question that has not yet been asked: the transfer of personal data from Yandex.Money clients to Sberbank is not planned. The system stores all data in accordance with the law “ On Personal Data ” and transfers it to its partners only with the consent of the client and in the framework of the provision of any service useful to the client. None of the current Yandex.Money services and products is transferred to Sberbank's “rails”. Identification methods remain the same; Your login and password remain with you.
What happened is not selling a business (Yandex.Money, by the way, makes a profit), but acquiring a new strategic partner with incredible reach, experience and product expertise. Sberbank of Russia is the largest bank in Eastern Europe, it has 100 million retail customers, and it wants to change and move towards electronic payments. At the negotiating stage, Yandex.Money met with a dozen potential partners, including investment funds, banks, international payment systems and telecom companies, but it was the strategy and common vision of Sberbank joint projects that turned out to be the closest companies.
As a result of this cooperation, new products will emerge that simply cannot create online and offline companies, even the best ones. The consolidation of major players in the financial market is a noticeable trend: the popularity of mPOS terminals is growing (which, in particular, Yandex.Money is being tested in Moscow as part of the Yandex.Kassa service), PayPal announced the launch of PayPal Wallet, Starbucks has teamed up with Square. Yandex.Money ranked first among electronic money and decided to go to a new level. Now they have the support of the largest players in the online and offline market in Russia.
Source: https://habr.com/ru/post/163183/
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