By 2002, the Russian internet was already catering to nearly every need of its users, offering books and encyclopedias, newspapers and magazines, various guides and directories, remote education, services for networking and self-expression, games, etc. With abundant online opportunities, users were growing reluctant to go offline to buy payment cards for paying their internet or other bills. The only thing missing was a payment solution that would allow internet users to pay for their purchases or top up their phones online. In response to the increased demand for such a solution among both online businesses and their customers the Yandex.Money payment system was created in 2002.
- 07/25/13 -techcrunch.com