A new payment service in Russia - Alipay

28 April 2017
Surely many people have already tried such payment services as Apple Pay and Samsung Pay. Others are eagerly awaiting the arrival of Android Pay in Russia. However, it seems that another payment system, originating from China, will soon be launched in our country.We are talking about the Alipay payment system, founded in 2004 by the Alibaba Group. However, this does not mean that it can be used to pay for purchases only on AliExpress and other trading platforms owned by the company. Hundreds of thousands of other companies accept payments through Alipay. Moreover, in October 2016, almost half of all online payments in China were made through Alipay. Alipay's arrival in Russia is associated primarily with the increasing number of Chinese tourists and is designed to help newcomers pay easily outside their native country. In addition, the payment system will make it easier for Russians to shop online. As for retail outlets that will receive terminals to work with the service, they will mostly be the most popular retail chains among Chinese tourists. These include chains selling amber, all sorts of souvenirs, Russian and Soviet watches, as well as duty-free stores in Moscow airports. In the future, it is planned to expand cooperation with various retail chains. Besides, the first Alipay partner in Russia is already known. It is reported that Modulbank will equip the first outlets with terminals for working with Chinese payment system until the end of April. It should be added that this bank's customers are only representatives of small businesses - various emerging entrepreneurs and companies with small staff. About when other Russian banks will start cooperating with Alipay and when we can expect the widespread introduction of compatible terminals - we will know only later.