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Is Russia’s Cashless Economy Good for Yandex?

Is Russia’s Cashless Economy Good for Yandex?

Russians are moving away from cash payments, according to a study by Sberbank, the country’s largest state-run bank. In 2018, cashless payments are on track to account for as much as 50% of Russia’s total payments for goods and services. Yandex is the dominant online search engine company in Russia.