Yandex’s online payment division announces Twym, enabling instant rubles transfers between Twitter users

Russian Internet giant Yandex has announced that its online payment’ division Yandex.Money has launched a new project called Twym, which will enable instant transfers of rubles between Twitter users with Yandex.Money accounts in Russia. You may remember back in December, Yandex announced that it was to form a joint venture with the largest Russian bank, Sberbank, which would acquire 75% of the service for $60 million. The goal of the joint venture was to create “innovative online retail payment solutions,” Yandex said, adding they would release new products under the Yandex.Money brand shortly. And it seems that Twym is one such project. How Twym works To transfer money through Twitter, users must first link their Yandex.Money virtual wallet with their Twitter account.