International payment service provider and acquirer ECOMMPAY has partnered with Yandex.Taxi to adapt the ride-sharing service’s mobile application for the acceptance of online payments across 10 countries in Europe, the CIS, and Asia. Working closely with their partners, ECOMMPAY developed a payment solution allowing users of the Yandex.Taxi app to pay for their ride electronically.
Yandex.Taxi and ECOMMPAY have analysed regional payment preferences to reveal that, in Estonia, card payments are popular, with cashless payments making up 70% of the app’s transactions. Latvia is in at second place with 58% and Finland comes third with 50% of users choosing cashless payments. Meanwhile, only 11% of Moldovans and 13% of Serbians pay for their ride-shares by card. At present, residents of Kyrgyzstan are even less likely to go cashless, but the popularity of card payments is steadily increasing and this payment method is expected to occupy a larger share of the market in the near future.
International payment system preferences also differ across borders. According to the transactions registered in the Yandex.Taxi app, ECOMMPAY reports that Visa cards are most popular in Kyrgyzstan, while Estonia takes the lead on Mastercard payments.
Each of the abovementioned countries does share at least one trend in common: ride-sharing customers who pay by card use the service more frequently than those who pay with cash. In Estonia, those preferring card payments make 2.5 times as many trips as their cash-paying counterparts, while cashless Moldovan users take 1.7 times more trips.
The new payment solution has been integrated into the Yandex.Taxi app, allowing users to link their Visa or Mastercard for easy payment in any country the app covers. Regardless of the linked card’s currency, conversion to the local currency of the country in which the customer is placing an order is done automatically at the current rate of the issuing bank.
ECOMMPAY’s partnership with Yandex.Taxi extends across 10 countries in the CIS, Europe, and Asia. Having integrated ECOMMPAY’s payment infrastructure, the online taxi service operates under its Yandex.Taxi brand in Moldova, Estonia, Lithuania, Latvia, Serbia, Kyrgyzstan, Belarus, and Georgia, as well as in several other countries under the Yango brand.