The Russian company Yandex is known, above all, for its search engine and is annually creating various platforms under this name - from the young Yandex.Toloka platform to the Yandex.Music service. Yandex is currently a fairly extensive system which includes numerous services and one of them is the Yandex.Money payment system which we will talk about today.

Yandex.Money payment system appeared in 2002 on the basis of PayCash technology, which is based on the storage and transmission of information over open networks. Yandex.Money operates with electronic money, while all wallets are provided with real bank accounts. The system operates only on the territory of the Russian Federation and operates exclusively with Russian rubles. It can be as an advantage - a narrow-minded system that does not require any conversion; and the disadvantage - the impossibility to carry out operations at the international level (however, many other payment systems will be suitable for this purpose).

It is also a controversial point the Yandex.Money wallet can only be registered to an individual, which excludes the use of the system by a particular business or business project.

In this case, the possibility to connect Yandex.Money system, for example, to the Internet store is potentially possible. However, the owner who wanted to do this would have to file a prequalification, which would be considered and either approved or not.

Signing up for Yandex.Money is absolutely free and it's best to do this when you have a Yandex mailbox, as this sometimes simplifies the task. If you already have Yandex mail, you just have to activate your wallet (create a password and enter the identification data). You will be given an account number, you will be able to see your balance and carry out the operations necessary for you.

It is possible to work anonymously and in the status of the identified user, having previously provided data that will be verified in the Yandex.Money system. It is worth paying attention, the first category of users (anonymous) has some restrictions on the input and withdrawal of funds, as well as some other points, which can be found on the site. So, if you plan to have a long interaction with the Yandex.Money service, it is best to pass identification and use in the system without knowing the limitations and without worrying about it.

Talking about the main problem that worries any user of any payment system - the input and withdrawal of funds, Yandex.Money system provides a sufficiently wide spectrum of opportunities in this area. The input of money can be done through bank offices, through the system of transfers and payments (Unistream, Anelik and others), through terminals, as well as through the electronic currency exchanges.

As for the withdrawal of money - this is quite a problem-free procedure and, besides, it is as fast as possible. However, it is necessary to pay a commission. If the withdrawal is carried out on the card of Alfa-Bank or RosEvroBank, the commission will be 3%. If this is any other Russian bank, you will have to pay the same 3% plus 15 more rubles plus a commission to the bank. Moreover, what is important, the commission is also charged from the recipient in the amount of 0,5% in the transactions from one wallet to another within the system.

In addition, the input of money into the system Yandex.Money and withdrawal can be carried out through specialized exchange offices, where you can exchange Yandex.Money for any other electronic currency. The commission will make 3% of this transaction.

Yandex.Money is a fairly convenient and smart system with a user-friendly interface. For example, if you receive a payment which you want to return, you can easily press a special button and the system will calculate the commission and deduce the required amount (which is absent, for example, in the WebMoney). Or, if you want to make payment, but at the last moment you realize that you do not have enough money in your wallet, in this case the system will postpone this payment and will do it automatically after the receipt of coins on the account.

In terms of security, Yandex.Money is also a good system, which uses the cryptographic algorithm RSA and hash function, as well as reliable passcode access restriction. Payable services that enhance authorization are offered too. It all depends on the user and his/her desire to secure the wallet.

Of course, Yandex.Money payment system has a number of advantages that attract potential users. This is the level of security and a very wide functional and a range of options for inputting and exchanging funds. So, despite the fact that the Yandex.Money system is not international, it has positive prospects, at least on the territory of Russia. At the moment, Yandex.Money is among the top three payment systems in the Russian Federation and is not going to leave its position.