Sberbank launches mobile money transfer solution in China

Friday 4 February 2022 14:45 CET | News

Russia-based lender Sberbank has launched money transfers to Alipay wallets in China using phone numbers.

State-controlled Sberbank, which has customers in 18 countries, launched the service together with Western Union. For a transfer fee of 1%, customers can credit an Alipay account in Chinese yuan with just the recipient's full name and phone number.

Inter-bank transfers using a mobile number are common in Russia. Sberbank now offers cross-border transfers in more than 30 countries. Other Russian banks, such as online-only Tinkoff also offer similar services.

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Keywords: Sberbank, partnership, Alipay, mobile money
Categories: Banking & Fintech
Companies: Alipay, Sberbank
Countries: Asia
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Banking & Fintech




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