Yandex.Money has introduced a service for multi-currency accounts and cards. In addition to rubles, the service allows users to keep money and pay in 10 foreign currencies: US dollars, euros, UK pounds, Japanese yen, Chinese yuan, Swiss francs, Czech korunas, Polish zloty, Belarusian rubles, and Kazakhstani tenges. The company says it is the first in Russia to offer cashback for payments in 10 currencies at once.
Users won’t have to switch currencies in order to pay for a purchase abroad with the card, as the service will independently determine which one to use for the payment, allowing for efficient payments in different countries with one card.
Initially the service will be available to a limited number of users, and those who would like to be a part of the test group will need to submit an application. After that, multi-currency accounts will be available to all identified users of the service. Users will be able to open an account in any foreign currency for free, and add money to it from a ruble account. To spend money from foreign currency accounts, users will need to activate the ‘Multi-currency card’ service. In this case, all Yandex.Money cards linked to the e-wallet will have multi-currency support. Cashback for payments on purchases in foreign currency will be charged the same as for payments in rubles, up to 5 points for every 100 rubles (US$1.4) spent. The service calculates cashback for currency payments at the rate provided on the date of purchase.