Mozido, PayEase launch China/ Russia cross-border payments platform

Merchants in both China and Russia will be using the platform, with an expected 200 Chinese online shops participating at the time of launch and 800 by the end of 2015. More than 100,000 consumers in Russia are expected to be active on the platform during the first three months, reaching one million active users after one year.

Yandex.Money, the Russian payment processing company with 170,000 cash acceptance points, will serve as a primary partner, allowing buyers to pay for goods via their e-wallet or bankcard. Banking partners include the Bank of China, which will provide RUB to CNY FX conversion, and the Suifenhe Government, the governing body of the local border between Russia and China, which will subsidize promotions for TradeEase in both China and Russia.

The TradeEase payments platform enables merchants in China to sell through ecommerce sites to consumers in Russia who pay using local credit cards, debit cards or bank accounts while merchants in Russia can sell through ecommerce sites to consumers in China. An offline-to-online (O2O) capability will provide a physical location where consumers in China can shop items from Russian merchants and purchase through the TradeEase platform, and likewise for consumers in Russia to shop for and purchase Chinese goods.