Turkish bank Isbank has announced it is now enabling ruble payments made via major Russian payment service provider Yandex.Checkout.
The collaboration between the two entities is expected to help Turkish online merchants reach Russian consumers easier. Currently, Isbank said it works with over 10,000 online platforms operating in Turkey.
“We put a special emphasis on physical and e-commerce cross border transactions. Therefore we enrich our payment gateway by adding new methods. To improve trade relations between Russia and Turkey we have done our part by making cooperation with Yandex.Checkout,” commented Yalçın Sezen, deputy CEO, Isbank.
“In this way, we have facilitated the collections of our airlines, tourism agencies and online retailers. We are going to increase the variety of our products and services and going to support our merchants who are targeting different geographies.”
Yandex.Checkout provides a number of methods to pay for purchases with a Yandex.Money e-wallet or a linked card issued by any bank, with a card of the MIR payment system, via mobile or online banking of Sberbank or Alfa-Bank.
For the customer, the payment process via Yandex.Checkout on a Turkish website is identical to the process on a Russian one.
Yandex.Checkout will use a ruble conversion to present the purchase price and debit the required amount.
Ivan Glazаchev, CEO, Yandex.Money, explained: “The partnership with Isbank is a big step forward for Yandex.Checkout. It’s important for us to provide Russian customers with the opportunity to pay for purchases in a convenient and safe manner on Turkish e-commerce platforms and online stores.
“Such partnership enables numerous Turkish merchants to reach millions of local buyers in the context of high demand on goods and services of foreign sellers.”