Russian internet firm Mail.Ru partners Alipay for payments JV

Moscow, Russia. Photo by Michael Parulava on Unsplash

Russian internet company Mail.Ru said on Wednesday it had agreed a joint venture with Alipay, the mobile payments arm of Alibaba Group, along with the Russian Direct Investment Fund (RDIF) and two other Russian partners.

The RDIF, Russian mobile group Megafon and Mail.Ru have also agreed to set up another joint venture with Alibaba called AliExpress Russia, RDIF’s Kirill Dmitriev told Reuters separately.

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