Yandex.Money have announced they are rebranding, and soon the electronic payment service will be known as ЮMoney (Yu-Money).
Similarly, Yandex.Kassa, a payment solution for business, will change its name to YuKassa.
The company will fully switch to the new brand after December 15, 2020, and until then, the new and old brands will be used simultaneously to ease the transition.
YuMoney will improve existing products and services that the company has launched under the Yandex.Money and Yandex.Kassa brands.
Users will still be able to create electronic wallets, issue virtual or plastic cards to them. YuKassa will continue to provide fast and secure payments for companies and other business-friendly solutions.
YuMoney will grow as part of the Sberbank ecosystem and will add to the number of existing services opportunities and payment methods that are already available to a number of ecosystem companies – Sberbank ID, SberPay, Pay QR, etc.
YuMoney will expand its line of cards, plan to improve its loyalty program, and launch new products for businesses and users on its own and together with other companies in the ecosystem.
Ivan Glazachev, the CEO of YuMoney was quoted in their press release:
Entering the Sberbank ecosystem and renewing the company’s brand is a new stage in its development. It is very important for us to preserve what we are valued as a leader in the payment services market – simplicity, manufacturability, convenience of services and a wide range of opportunities. The client and his needs remain the focus of our work.