In a move that will be disruptive to the financial market, and potentially a glimpse into why Yandex was looking to acquire Tinkoff – Yandex is preparing to launch its own cashless payment service Yandex Pay.
The full functionality of Yandex Pay will be available only to persons over 18 years of age.
To paraphrase the published terms of service:
… the service will be available “on Yandex web pages, including in the service interface, with which the user can enter and save the data of his bank cards, including (when choosing a function) with the creation of tokens for them, manage the data of bank cards, use the data of bank cards for the purpose of making non-cash payments to the seller connected to the service…
At the time of writing, Yandex has not yet confirmed or denied the launch of the Yandex Pay service.