Skrill, a European online payment provider, announced a partnership with Yandex.Money, a Russian payments service, to encourage the growth of the Russian payments market as well as integrate Yandex.Money solutions for Skrill's 140,000 merchants around the world, the company announced in a press release. According to research, Yandex.Money is the most used payment service in Russia. They provide services for 84 percent of Russians that are familiar with the company, and 17 percent use Yandex.Money to make a payment at least once every six months. Yandex.Money is currently accepted in about 200,000 online stores across Russia, Ukraine, Belarus and Kazakhstan.
Mohamed Omaizat, VP of group corporate development at Skrill, said, "Partnering with Yandex.Money will provide Skrill's expansive global merchant base with access to consumers in Russia. It will also enable us to grow our global payment network even further with another popular local payment option, ensuring we stay at the forefront of the digital payments market."