Ant Financial Services Group
Alipay enters partnership with VTB to expand merchant network in Russia
HANGZHOU, China, Aug. 04, 2017 (GLOBE NEWSWIRE) -- Alipay, the world's largest online and mobile payment platform and lifestyle super app operated by Ant Financial Services Group, today announced its partnership with VTB Group, one of Russia's leading banking groups. VTB Group has recently started merchant acquiring for Alipay payments service in its over-120,000-POS-device network, which now makes VTB Group the biggest partner of Alipay in Russia. It is expected that more than 1 million Chinese travelers will benefit from the new partnership every year.
The service will be launched shortly after a pilot program in August. Q3-Q4 2017 will see its roll-out to the whole VTB network of near 100,000 merchants.
Alipay is the world's largest online and mobile wallet with more than 520 million active users. For Chinese shoppers, the new partnership will lead to more convenience and safety during their trips to Russia, and Russian merchants will have the ability to use all the value added marketing functions the system provides. For shops and restaurants, it means promising an increase of conversion rates, average ticket size and turnover.
According to an estimation of VTB24, the VTB Group's retail banking arm, Alipay will be in high demand in Moscow, St Petersburg, Khabarovsk, Vladivostok, Blagoveshchensk and Irkutsk. "We see the number of Chinese tourists is increasingly growing," said Alexey Kirichek, VP, Director of Merchant Acquiring Department, VTB24. "Potential volume of this market is approximately 300 billion rubles per year. Average ticket size of Alipay users is 2-3 times higher than in other payment methods, hence we expect high demand for the new service from merchants."
"For Alipay, it's very important to get support from one of the largest banks in Russia. Large-scale acceptance of Alipay on the whole POS infrastructure of VTB24 will allow us to speed up and facilitate the launch of our service at merchants and enable country level coverage," said Bogdan Zadorozhny, Alipay's Business Development Director for Russia.
Alipay became available in Russia for Chinese tourists starting in April 2017. Merchants include a number of souvenir shops and department stores in Moscow and St Petersburg. In July, Alipay announced its partnership with Moscow's Department of Public Transportation. In the near future, Chinese tourists will be able to use Alipay to buy bus or metro tickets.
Alipay has been expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. In addition, it is accepted in over 30 countries and regions, with in-store payments covering more than 200,000 retail stores.
VTB24 is one of the leaders in the merchant acquiring business in Russia. Last year, the acquiring volume of the bank reached 1 trillion rubles. This year, the bank plans to achieve 1.4 trillion. Among the biggest customers of VTB24 are such retailers as Auchan, Russian Railways, Yandex Taxi, VK.com, etc.
Operated by Ant Financial Services Group, Alipay is the world's largest mobile and online payment platform. Launched in 2004, Alipay currently has over 520 million active users and over 450 financial institution partners globally. Alipay has evolved from a digital wallet to a lifestyle enabler. Users can hail a taxi, book a hotel, buy movie tickets, pay utility bills, make appointments with doctors, or purchase wealth management products directly from within the app. In addition to online payments, Alipay is expanding to in-store offline payments both inside and outside of China. Over 10 million brick-and-mortar merchants now accept Alipay across China. Alipay's in-store payment service is covering more than 200,000 retail stores across the world, and tax reimbursement via Alipay is supported in 24 countries and regions. Alipay works with over 250 overseas financial institutions and payment solution providers to enable cross-border payments for Chinese travelling overseas and overseas customers who purchase products from Chinese e-commerce sites. Alipay currently supports 19 currencies.
Media Enquiries Xinyun Yang International Communications Ant Financial Services Group Tel: +86 1381 6896 301 Email: email@example.com
Information om Nasdaq OMX
Følg pressemeddelelser fra Nasdaq OMX
Skrive dig op her og du vil løbende modtage pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Nasdaq OMX
World Finance17.1.2018 15:30 | pressemeddelelse
Egyptian Steel recognised in the World Finance 100 guide for 2017
European CEO17.1.2018 15:07 | pressemeddelelse
Investing in Berlin's thriving real estate market
Crown Bioscience Inc.17.1.2018 14:14 | pressemeddelelse
Innovative Humanized Research Strategies for Immuno-Oncology Drug Development, Crown Bioscience Hosts a Live Webinar
Colliers International Group Inc.17.1.2018 13:33 | pressemeddelelse
Colliers Launches Real Estate Technology Accelerator With Techstars
BnkToTheFuture17.1.2018 13:17 | pressemeddelelse
BnkToTheFuture Raises Initial $30 Million for Tokenized Securities Market and Due Diligence Platform
VistaJet Ltd17.1.2018 13:14 | pressemeddelelse
A Year of Incredible Growth for the Global Business Aviation Unicorn
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum