Yandex acquires NewPay QR code payment service

MOSCOW. Nov 29 (Interfax) - Russian technology group Yandex has acquired NewPay LLC, a company that is developing a service to pay for goods and services through the Express Payment System's QR code.

The deal was closed on November 28 and structured through Finance and Payment Technologies LLC, the Unified State Register of Legal Entities showed.

"Yandex has closed the deal to acquire the NewPay service. The deal will make it possible to expand the range of payment instruments and payment options through the Yandex Pay service," the group's press service told Interfax.

NewPay, which was registered in September 2024, was 70% owned by Ivan Bortnik prior to the deal, 25% by Alexei Lokontsev and 5% by Igor Melnikov.

NewPay's website said the service is integrated with systems such as Evotor, Posiflora, Quick Resto, Modul Kassa, Aspro and others. The company's partners include TopGun, DoubleB, Cantata, OnePriceCoffee, SurfCoffee and Cofix, among others.