Yandex.Money, the largest online payment service in Russia according to TNS, now offers users the ability to pay via the Yandex.Money app on Apple Watch. Users can top up their mobile phones or transfer money to friends right from their wrist. The app also includes options for checking the balance of an account and receiving push notifications.
Apple Watch will show users all the payments they’ve saved in their Favorites folder on the web or mobile version of Yandex.Money. Users can add as many payment options as they want.
Yandex.Money also maintains mobile applications for iOS, Android, Windows 10, and Windows Phone. A study by AC&M Consulting showed that more than 12 million users in Russia complete payments through mobile devices. They transfer money to other users, pay bills, taxes, and fines, or shop online according to a 2016 TNS survey.
According to IDC, in 2015, Apple Watch held 60% of the smart watches market. In total, Apple sold around 12 million devices last year. By 2019, the final year of the forecast, total shipments are expected to reach 214.6 million units, resulting in a five-year compound annual growth rate of 28%.