Is Alipay Wallet Popular in Russia?Does Alipay work in Russia?

With the development in recent years, in Russia, many large shopping places, supportAlipaypayment.

• 2017 Alipay's first mobile payment service was launched in Russia.
• In January of this year, Alipay and Russian online bank Tinkoff reached a cooperation.
• The bank mainly provides acquiring services for small and medium-sized enterprises, and its business scope mainly covers Moscow, St. Petersburg, Irkutsk, Vladivo, etc...

Can you swipe Alipay in Russia?

prior to,WeChat Pay can only use 200 RMB to enter Russia.

Alipay in order not to lose toWeChat payment, and also reached a cooperation with the Russian Foreign Trade Bank, the two sides are committed to jointly expanding the application of mobile payment methods in the Alipay region of Russia.

According to statistics, as of January 2019, there were more than 1 Alipay merchants in the entire Alipay range.

In addition to some large retail department stores in Moscow and St. Petersburg, there are also some grocery retail stores.

Fast food restaurants, cosmetics and beauty chains, and subway stations have been connected to Alipay services.

To register an Alipay account, you must bind a bank card to Alipay

However, while Alipay is developing its overseas business, its main service is still aimed at Alipay users.

The problem is that the registered Alipay account must be bound to the Alipay bank card.

This means that the vast majority of Russian users cannot enjoy the convenience of the Alipay payment system.

For example, once Russian tourists are reflected on the Internet, they travel to China, but because there is no bank card linked to Alipay.

They can only watch local residents swipe Alipay to drink, drink coffee, or even eat in restaurants, but they cannot experience the "magic" of mobile payment in person.

Russian group backs Alipay to launch digital payments

But now, with MaiThe l.ru Group established a joint venture in Alipay, which may allow Russia to directly enjoy the convenience brought by Alipay Mobile.

Mail.ru Group will invest its assets in the payment system Money.Mail.ru and VK Pay, a payment system launched by the Russian social networking site VKontakte.

In the first phase, a mobile wallet can be launched, simplifying AliExpress RussiaE-commerceThe payment process of the platform, and more services will be launched in the future.

Alipay also said that the task of the new payment system covers more individuals and SMEs.

Russia's electronic payment market has a promising future

Russia is a promising market for electronic payments:

At the beginning of 2018, card payments were almost double the amount withdrawn in Russia.

There are various payment methods in Russia, not only online by card, but also 3 main e-wallets:

• online banking
• carrier billing
• ATM payment
• As well as using self-service kiosks, cash advances at checkout counters, and online loans.

At the same time, Russian regulators are also supporting new technologies in the financial sector, and the Russian central bank has begun experimenting with QR code payments within the framework of the fast payment system it created.

Some shopping venues support natural persons to transfer money to legal persons, so-called C2B payments.

Central Bank Alla Bagina, head of the National Payment System Department, said that all the infrastructure required for large-scale C2B payments was ready on September 9.

So the Bank of Russia (the Central Bank) is already preparing to put the system into commercial operation.