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Sberbank and Yandex.Checkout to enhance B2B Payments offering

Sberbank has announced that it has expanded its B2B Payments offering scope in partnership with Yandex.Checkout. The service aims to enable companies in conducting online payments as well as let online stores and service suppliers accept payment from corporate customers and was only limited to companies holding an account with Sberbank. The Bank states that the enhanced offering will allow vendors affiliated to any Russian bank account to accept online payments from corporate clients.

Sergey Parshikov, Managing Director of the Digital Corporate Bank, Sberbank commented, “B2B Payments service revolutionizes payments between companies, making their online buying experience similar to that of an average online shopper. A customer can simply choose the goods and payment method, click a button and find oneself using an internet banking solution with a filled-in payment order to pay for the purchase. All you need to do is sign and send the payment, and the store will be notified about it right away. The service and its advantages used to be available to Sberbank customers only, but now it allows you to compensate any seller of a good or service that accepts B2B payments via Yandex Checkout and has accounts with other banks.”

The expanded offering can be activated through Yandex.Checkout and will allow sellers to accept online payments from buyers with a corporate banking account with Sberbank’s Business Online. Sberbank states that the B2B Payments solution aims to reduce payment time for businesses and propel accounting and sales growth.

Oksana Korobkina, CCO, Yandex.Money, said “Even major industrial companies traditionally regarded as offline businesses start selling online these days. They organize online sales and need convenient online payment tools. Over the last year, the proportion of e-commerce payments between companies added over 50%, and this trend is going to evolve.”

The B2B Payments solutions was launched by Sberbank in October 2018 in collaboration with Yandex.Checkout. The current users of the solution include retailers, and IT companies, such as MTS, OZON.travel, My Agent, Nethouse, NetByNet, etc.

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