Russian social media site VK preps payments push
VKontakte (VK), the largest social media site in Russia, is preparing to launch a payments platform., VK Pay, which will be incorporated into the social network, as reported by Russian news outlet RBC.
The company will not yet take a commission for payments, but in the future, it expects to create a marketplace with a turnover of RUB 100 billion ($1.5 billion) a year.
The company started working on the platform on 27 June.
VK Pay will have a restriction on withdrawal of cash by users, a maximum of RUB 200,000.
VK will launch a parallel marketplace similar to Facebook’s, in which VK partners will be able to offer services, like sale of air and railway tickets OneTwoTrip; tickets for entertainment events, Kassir.ru and ShowGoGo; food delivery services Grow Food and Delivery Club; call the doctor at home DOC +; etc.
At the moment, VKontakte has 97 million users per month.
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