The Latest Insights from International Online Marketing
18 September 2015.
The Mozido-owned company PayEase has launched a cross-border ecommerce payments platform for China and Russia.
The payments platform, called TradeEase, aims to help facilitate B2C trade between the two countries.
Retailers from both countries will be able to put their products either on the ecommerce site or in a physical store, with TradeEase handling the payment.
The platform aims to have 800 Chinese online shops and 1 million Russian consumers by the end of the year. It has not released details of how many Russian online shops and Chinese consumers it hopes to attract.
Russia and China have a blossoming trade relationship. Russia’s cross-border ecommerce market is currently worth 5 billion US dollars and grew at a rate of 70% last year.
Earlier this year, the Russian ecommerce site Ozon entered China, and the Chinese ecommerce sites Alibaba and JD moved into the Russian market.