Yandex.Money introduces Garmin Pay to its cardholders.
Now, with a Yandex.Money virtual or plastic card tokenized in Garmin Connect Mobile app, paying at offline stores with a Garmin smartwatch seamlessly is no longer a problem. Thus Yandex.Money supports five contactless payment methods: Apple Pay, Garmin Pay, Google Pay, Samsung Pay, and its own feature embedded into Yandex.Money app.
Contactless payments are gaining rapid popularity in Russia, with 43% of Yandex.Money users preferring this payment method. Approximately 20% of offline payments are made with tokenized cards via smartphones and smart watches. Average check from a contactless payment with a Yandex.Money card is $6.8 (457 rubles) across Russia and $8.3 (556 rubles) in Moscow.
Top-7 categories of products purchased via contactless payments (according to Yandex.Money stats):
1. Department stores goods
2. Household appliances
4. Building supplies
7. Tobacco products
“We intend to offer our users as many contactless payment methods as possible due to their high relevance in Russia. That’s why Yandex.Money has added Garmin Pay to its variety of contactless payment methods in order to maximize the comfort of those who prefer a healthy lifestyle and have an interest in advanced technologies,” says Alla Savchenko, Head of Product Department at Yandex.Money.
Garmin smartwatches provide their owners with cashless experience Garmin Pay connected to a Yandex.Money card: purchases can be made seamlessly at the growing number of retail outlets accepting contactless payments in Russia. The new feature is available on Garmin Fenix 5S Plus, Fenix 5 Plus, Fenix 5X Plus, Forerunner 645, Forerunner 645 Music, Vivoactive 3, and Vivoactive 3 Music.
Contributed | what does this mean?