Yandex is a company in somewhat of a perilous situation, and one that is seeing its marketshare in Russia decline. While it is attacking Google in Russia’s antitrust courts, it made moves on Monday to expand its mobile payment plans to businesses. This deal could be huge for businesses in Russia with Yandex.
The deal as announced on Monday, teams Yandex with the UK-based Opia. Opia offers a number of sales optimized programs for big international brands, and will be teaming up with Yandex’s payment solutions product in Russia. This means that large businesses can take advantage of these programs soon in Russia.
Why Yandex and Opia Make Sense
The deal between the two companies is a good one for both companies. Yandex will be able to offer cashback programs for Russia consumers, and offer them mobile rich programs for their payments. Most people in Russia do not have bank accounts, and this mobile platform program will enable savings and promos on mobile.
Opia is a UK-based brand that is quickly expanding around the globe, and has recently opened offices in the US, and is looking to build out to 60 countries. Opia has Russian deals with Corp Centre and Intel now, and these will only leverage Opia into more consumers hands across the Russian nation.
Opia Sees Yandex Plus Russia As Huge Market
Opia stated that they see the Russian market as one that is developing at a rapid rate, and most of the mobile payment programs are still in their infancy. Opia sees Yandex as a strategic partner, and one that most Russian consumers trust and want to build loyalty with, and this means a win for both companies.
Russian customers can only gain from this type of deal with Yandex and Opia. These types of first to market businesses can mean that customers get better pricing, better deals, and aggressive marketing of promotions to them. Yandex is expanding beyond search, and this deal with Opia surely shows that today.
Yandex made a bold move by teaming up with Opia. They want to build out their mobile payment systems, and sees Opia as one that could help them greatly.