Yandex has purchased NewPay, a payment service enabling transactions via the SBP QR code system. The deal was finalized on November 28, 2024, and completed through Financial and Payment Technologies LLC, according to Interfax.
This acquisition makes Yandex the full owner of NewPay LLC. The move is expected to enhance the Yandex Pay platform by broadening its payment tools and scenarios, as stated by Yandex’s press service.
Previous Ownership
Before the deal, NewPay was owned by Ivan Bortnik (70%), Alexey Lokontsev (25%), and Igor Melnikov (5%). The transaction marks another step in Yandex’s strategy to grow its financial technology offerings.
Recent Expansion Moves
Earlier this summer, Yandex acquired the technology platform of eLama, a service specializing in online advertising tools. These acquisitions highlight Yandex’s efforts to strengthen its position in the digital payments and financial services market.