Russian alternative payment method Yandex.Money is expanding its services and is beginning to offer a virtual prepaid MasterCard to its users.
The virtual card can be used where ever MasterCard is accepted online. To complete a purchase the user simply enters the card details as they would with a physical card. When money is loaded into a Yandex.Money account via mobile retail outlet, payment kiosk, ATM, or any other method, the funds are made immediately available on the card.
The virtual card is protected by “3-D secure” and requires a dynamic code to be entered upon every purchase which is sent to the account holder’s mobile phone.
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“At Yandex.Money, we’re no longer just an e-wallet. We are a universal payment service,” said Alla Savchenko, Director of Products at Yandex.Money. “The first step in that direction was the Yandex.Money bank card, which allows users to pay with funds from their account at offline supermarkets, restaurants, gas stations and so on. Then we created the ‘Local Payments’ service, which offers a number of payment options that don’t require logging into a Yandex.Money account. And now we’ve introduced virtual MasterCards, which can be issued in under a minute and, most importantly, be used immediately.”
Yandex.Money is the largest E-payment service provider in Russia, offering easy, safe, and reliable methods of payment for online goods and services.