Yandex.Checkout Payment Gateway Release

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yandex-checkout-previewWe understand that many of our customers open their classifieds portals outside of US and for them, payments in US dollars is not always a preferred option. With this in mind, we continue expanding the geography of payment providers integrated into Flynax script.

Currently, we cover Brazil, Africa, Australia, Europe, and India allowing users from above-mentioned countries to pay in their local currency. This blogpost comes as an announcement that we have further expanded a range of payment providers for Flynax and added Yandex.Checkout (Yandex.Kassa) for our customers from Russia, Belarus, Kazakhstan, Armenia and several other countries where ruble currency is in wide use. Since we see more and more users opening their classifieds sites in Russia, Yandex.Checkout will help them accept payments and charge for services on their websites in rubles. Being #1 payment provider in Russia, Yandex.Checkout effectively handles all payments on your website and makes sure that every user finds a preferred payment method.

Requirements

To use Yandex.Checkout on your website for receiving payments, you need to have a registered status in Russia and be either a legal entity or private entrepreneur. Even if you are not a resident but still prefer to do business in Russia, Yandex.Checkout offers its services to non-residents who may still use Yandex.Checkout gateway on their websites.

To connect Yandex.Checkout to your online business, you need to file a request with information about your company. Once Yandex checks your information and approves your application, you will be asked to sign an agreement between your company and Yandex, after which, you may proceed to configuring the plugin on your website.

Payment options

When it comes to selecting a payment option, Yandex.Checkout has got you and your users covered. It offers most popular payment methods in Russia and nearby countries allowing users to pay either by their debit cards or with their money wallets, such as YandexMoney, Webmoney or Qiwi, with Internet Banking from Sberbank, Alfa-Bank, and with mobile phone balance or even by depositing cash to the nearest POS-terminal. You can view all payment methods on Yandex website, one thing you can be certain of is that every user will find a way to pay for your service in a way that is most convenient to him.

Although YandexCheckout offers you multiple payment options, it is you who finally decides which ones to activate on your website. In other words, you have full control over which methods to offer to users and which ones to disable.

Fees and commissions

The good news is that Yandex.Checkout does not charge a monthly membership or subscription fees. In other words, if your website does not make any sales, you will not be paying anything to Yandex.Checkout. The commission is charged on every successful sale and its amount depends on the payment method selected by a user. The standard commission is normally 3.5% if a user pays with a debit card or via an online banking service. If you decide to enable advanced payment options, such as the ability to pay with a mobile phone balance or with e-wallets, commissions may be as high as 7%. We recommend that you check Yandex.Checkout’s website to have the latest and most accurate information on fees and commissions, as they may be subject to change.

Keep in mind that the bigger your website is and the more sales you make, the lower commission rates you can expect. Premium accounts with lower commission rates are offered to websites with large monthly turnovers exceeding 1 million rubles.

Why you need it

The ability to accept payments in the currency of the country where your website is operating is crucial for any webmaster. Conversely, your website users may be put off by the necessity to pay in US dollars when your website is targeting the Russian market. What is worse, conversion rates from rubles into dollars are high, which drives up the price for a product making a user abandon the shopping cart seeing that he cannot pay in local currency. On the other hand, when a user sees that he can pay in rubles; and on top of that, he is given a wide array of options to choose from, he will most likely purchase a product or a service on your website.

With Yandex.Checkout payment gateway, you may enter the growing Russian market and start accepting payments in rubles. The plugin is flawlessly integrated into Flynax and takes only a few minutes to set up.

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