Yandex launches online payment system for Twitter-based transfers

Innovative solution

The Russian internet company Yandex has introduced Twym, a new online payment system for Twitter-based transfers. 

The new service enables users to send money to other Twitter users through tweets. However, in order to be able to send and receive money, both Twitter and Yandex.Money accounts must be linked. For peace of mind, users can limit their maximum allowable transfer amount via the Wallet Preferences settings in their Yandex.Money account.

The launch comes in light of Reuters revealing financial services provider Sberbank plans to acquire Yandex.Dengi, an online payment service owned by Yandex.

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