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Russia Beyond The Headlines

VTB signs MoU with Chinese online payments operator

January 22, 2016 Interfax, RBTH
The Russian bank will collaborate with Ant Financial Services Group.
Source: AFP/East News
VTB will collaborate with Ant Financial in banking services and online payments Source: AFP/East News

Russia’s VTB Bank and Chinese online payment services provider Ant Financial Services Group, which was founded by the Alibaba Group, signed a memorandum of understanding during the World Economic Forum in Davos on Jan 22.

VTB will collaborate with Ant Financial in banking services and online payments in a bid to enhance services to Russian consumers, the bank said in a press release.

Read more: Russian retailers to start partnership with AliExpress on Singles’ Day

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