Yandex payment system.Money and its e-wallets are very popular. In 2020, it came under the control of Sberbank and started working under a new brand. Because of this, users have questions and concerns — many are afraid of losing access to money placed in wallets or imposing other ecosystem products.

#Stymieing studied changes in Yandex.Money that was converted into Umopar, and gathered the most important information about them in this article. You will learn what the new service offers to users and how to switch to the service in it. We are considering changes that affect both private clients and business.

What happened to Yandex.Money?

Initially, the e-wallet system was Yandex's own project. In 2012, Sberbank entered the capital of the service, which began to control 75% of its amount. Sberbank and Yandex started developing payment services together. By 2018, the Yandex.Money was recognized as one of the most popular online payment systems in Russia.

Subsequently, the interests of Yandex and Sberbank diverged. Both organizations decided to develop their own ecosystem on their own and to share in joint projects. In addition to the payment system, they also included the Yandex trading platform.Market. The final division of assets took place in the summer of 2020. As a result, the Money is completely they went to Sberbank, and Market-to Yandex.