China, Russia Establish Cross-Border E-Commerce Platform
Sept. 10, 2015
Russia and China on Tuesday launched an e-commerce platform that will pave the way for cross-border e-commerce between the two countries. TradeEase is a partnership between Chinese government-owned PSP PayEase, the Bank of China and Russian online payment provider Yandex.Money. TradeEase is an online marketplace that currently includes 200 Chinese merchants, which should balloon to 800 by the end of this year. Yandex.Money will enable the payments from Russian consumers via bank cards, e-wallets, mobile billing and the Yandex Payment Solution.
“TradeEase aims to bring better quality Chinese goods with better consumer experience to Russian online consumers,” said Kino Kwok, general manager of TradeEase. “Localized service and customized promotion plans will ensure Russian shoppers have a cheaper and faster way to buy high quality goods and save both time and money.”
The partnership said it expects TradeEase to garner more than 100,000 members during its first three months.