Merchants can now accept payments from corporate clients from various Russian banks, previously the option was available for Sberbank accounts only. The service is also available for foreign merchants if the company has an account in a Russian bank.

“Today even traditional brick-and-mortar stores start selling online and, thus, need a tool for online payments and reckoning. Last year the share of payments between companies in e-commerce has increased by 50% and this trend is expected to continue,” - said Oksana Korobkina, CCO at Yandex.Money.

“B2B payments service changes the way we think about payments between companies. The process of online purchase becomes the same as the process for the regular customer: the client chooses the goods and payment method, hits the button and is being redirected to the internet-banking interface, where he/she can see an invoice. All that is left is to sign the invoice and confirm the transaction, while the merchant immediately is notified of the fact of the transaction. Previously only Sberbank clients had an opportunity to use the service and explore its advantages. Now the service allows reckoning for goods and services with any other company, which accepts B2B-payments via Yandex.Checkout and has accounts in other banks,” - said Sergey Parshikov, Managing Director of the Digital Corporate Bank, Sberbank.

B2B payments service was introduced in 2018 to allow companies to accept online payments from corporate clients as easily as from individuals. The service reduced the timeline for transaction from 1-3 days to 1-3 minutes, that attributes to sales growth by allowing to provide goods and services without delay. That option was particularly welcomed by travel companies, mobile network operators, recruiting services, commodity sector enterprises, IT companies.

“My Agent”, online booking company that serves small tourist agencies and corporate clients for business trips, is executing the B2B payments solution over a year. In order to boost business growth “My Agent” had to provide loans to clients and, yet, handle financial responsibility and risks. The company shared the results of utilizing the B2B-payments solution, which outlined not only the positive effect on sales increase and accounts receivable reduction, but also growth patterns. Firstly, local clients eagerly accept B2B-payments, the process is easy for both sides, which contributed to 40% in number of transactions month-on-month via B2B-payments. Also, the company reported a drastic spike at sales at after work hours, which makes B2B-payments a very convenient tool for operating in different time zones. In addition to that the sales have doubled on weekends, adding to financial burden reduction while fully taking the advantage of spontaneous purchases. B2B payments simultaneously provided a solution for business growth - the potential to expand business interests to remote areas, where the demand for travel services is high, yet the offer is unsavvy due to the technological and banking lag between regions.