Category: General Business News
From: Taiwan Trade Center, Moscow
“Vkontakte” is launching an online payment system VK Pay
“Vkontakte” began testing their payment platform VK Pay and are aiming to become the largest online trading platform in Russia, as is stated in the message by the social network itself.
As of today, every VK community will be able to activate a convenient payment solution within the network – the company is beginning their testing of the platform VK Pay. Transfer of funds occurs instantly, as when paying in any store.
Gazprombank became a partner of the social network. So far, you can make purchases and pay for services both in the special section "VKontakte" and on the sites of VK Pay partners. Gradually, all users will have access to the service. At the same commission for the input, withdrawal and transfer of funds from either buyers or sellers will not be taken.
The launch of VK Pay is an important stage for the final formation of a full-scale e-commerce ecosystem. According to him, the combination of communication and payment functions will make VKontakte the largest site for online trading in Russia.
Taking into account the ‘Vkontakte’ demographic and its readiness to make purchases, it is safe to assume a market with a value of no more than 100 billion rubles in the next few years.
“Collaborative projects that we are starting to work on aim at introducing an entirely new way of offering services and items for purchase in the digital space, which was dictated by the rapidly changing market of financial services and growing customers’ demand,” – noted Gazprombank.
Starting from 2015, over 490 000 communities have activated the service “Market.”