Yandex Launches Yandex.Plus Bank Card in Partnership with Leading Banks
April 23 2019 - 4:15AM
Yandex (NASDAQ:YNDX), a technology company that builds intelligent
products and services powered by machine learning, has partnered
with two of Russia’s leading banks, Alfa-Bank and Tinkoff Bank, to
offer consumers the new Yandex.Plus credit and debit card. Bank
card users will receive up to 10% cashback on purchases on over
fifteen Yandex services, as well as up to 5% cashback on other
purchases.
“With the new Yandex.Plus debit or credit card, everyone will
benefit from great bonuses and rewards on their everyday purchases
– all without an annual fee. Cardholders who use the Yandex
ecosystem will enjoy even greater benefits, with generous cash back
offers on fifteen Yandex services,” says Greg Abovsky, Chief
Operating Officer and Chief Financial Officer of Yandex. “Users of
the Yandex.Plus card will receive cash back on their Yandex.Taxi
rides, online food orders delivered by Yandex.Eats, and e-commerce
transactions on Beru, among others.”
The Yandex.Plus card is a World Mastercard credit or debit card
that is ideal for everyday purchases and online payments. The
cashback advantages of the card include:
- 10% cashback for a different Yandex service every three months.
The first service will be Yandex.Taxi. Users will receive 10% off
rides through the end of July, when the special 10% reward will
become available on another Yandex service.
- 5% cashback on purchases from fifteen Yandex services,
including e-commerce transactions on our marketplace Beru; food
delivery from Yandex.Eats; car sharing from Yandex.Drive; event
tickets on Yandex.Afisha; and travel tickets on Yandex.Travel.
- 5% cashback on any purchases in the following four categories:
restaurants, entertainment, sports goods, and educational
services.
- 1% cashback on all other purchases.
In addition to the cashback rewards, Yandex.Plus cardholders who
spend over 5,000 rubles a month ($78 USD) will be receive a credit
back for the cost of their Yandex.Plus subscription at the end of
the month. The Yandex.Plus subscription provides full access
to Yandex.Music, discounts on Yandex.Taxi and Yandex.Drive, free
delivery on Beru, as well as other benefits. Yandex.Plus
cardholders will receive the additional discounts and benefits of
the Yandex.Plus subscription service on top of the cashback rewards
of the card.
"We are excited to offer a useful and valuable banking product
that gives our customers an opportunity to enjoy cashback rewards
and discounts on Yandex services. This partnership is very
important to us, as it provides access for our clients to top
quality financial and non-financial services supplied by Alfa-Bank
and Yandex," says Michael Tuch, Retail Business Director of
Alfa-Bank.
"The Yandex.Plus bank card by Tinkoff Bank is the right banking
product for the modern consumer. It is perfect for anyone who
cannot imagine their life without technology, who values their time
and uses Yandex services. This bank card offers all the benefits
that a partnership between two of the largest ecosystems can
provide – customer-oriented terms of service, cashback rewards, and
access to Tinkoff lifestyle services," says Artem Yamanov, Senior
Vice President of Tinkoff Bank.
"Russia has some of the world's most innovative payment
technologies and a wide adoption of bank cards. Russians love
cashless payments for their convenience and speed. They appreciate
the value and privileges that a bank card can provide, such as
cashback rewards, bonuses, and special offers. According to recent
public opinion research, eight out of ten customers named cashback
reward program as the key factor when choosing a bank card,” said
Alexey Malinovsky, Head of Mastercard in Russia. "The banking cards
that we have presented today both offer favorable terms and
conditions and combine unique advantages from each of the partners
in this project."
The Yandex.Plus bank card has no membership fees. Cashback
rewards are paid to the card in rubles every month. The card will
be available for customers in Russia starting on April 23.
Contacts:
Press officeIlya Grabovsky, Olga RudakovaPhone: +7 495
739-7000E-mail: pr@yandex-team.com
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