Turkey's İş Bank has signed a payment acceptance agreement with Yandex.Checkout, one of the largest online payment infrastructure providers in Russia.
Having recently started accepting Russia's national card Mir in physical and virtual member businesses and ATMs, the bank has now partnered with Yandex.Checkout to facilitate the Turkish businesses' sale of goods and services to Russian consumers via e-commerce, making a significant contribution to the development of Turkey's trade with Russia.
The virtual POS service introduced by İş Bank, which is the sector leader in both domestic and foreign transactions in e-commerce, is valid in more than 50 countries with international card diagrams such as Visa, Mastercard, Amex, UnionPay, JCB for sales to overseas customers, and it accepts 34 different local payment methods in this scope.
This cooperation allows Turkish firms to receive payments from Russia via the Yandex Checkout platform through methods such as Sberbank Online, Alfabank, and Yandex.Money. In this way, Turkish companies will be able to reach 92 million Sberbank Online, 16.1 million Alfabank, and 46 million Yandex.Money users through Yandex Checkout platform.
"With the aim of improving the trade between Turkey and Russia, we, as İş Bank, have collaborated with Yandex.Checkout to develop our overseas payment service in our virtual POS application," İşbank Deputy General Manager Yalçın Sezen said.
Noting that they facilitated the collections of airlines, tourism companies, and e-export companies from Russia with this system, Sezen stressed that they would continue to expand the range of services and products offered to member businesses and support their overseas sales activities.