The Russian Direct Investment Fund (RDIF), the Chinese company Alipay, Mail.Ru Group, USM and Megafon will become partners in creating a common payment system, TASS reports. The system that will be used in AliExpress Russia is planned to be launched this year.

      The project will be aimed at the implementation of payment and financial synergies among the participants of the joint venture AliExpress Russia. The parties intend to complete the creation of the system and begin operations in 2020.

      It is planned that the joint venture (JV) will also include one of the Russian banks, which will ensure the functioning of the payment system through its infrastructure. In general, Russian shareholders will own more than 50% in the enterprise.