Mail.Ru, Alipay sign payments partnership in Russia

Thursday 10 October 2019 10:18 CET | News

Mail.Ru had signed a payments partnership with Alipay, the Russian Direct Investment Fund (RDIF), and two other Russian partners, Reuters reports.

As per the agreement, consumers will be able to use AliExpress to buy products online. In addition, AliExpress would help small and mid-sized Russian companies to gain access to Asian markets.

Under the Alipay deal, RDIF, Megafon and USM holding, a Megafon and Mail.Ru shareholder, will set up the payment joint venture focusing on digital payment services for Russian users. and VK Pay, part of its VKontakte social network, would also be part of the payment joint venture. Mail.Ru will be its largest shareholder with 40%.

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Keywords:, Alipay, mobile payments, online payments, AliExpress, Russia
Countries: World

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