Merchants in both China and Russia will be using the platform, with an expected 200 Chinese online shops participating at the time of launch and 800 by the end of 2015. More than 100,000 consumers in Russia are expected to be active on the platform during the first three months, reaching one million active users after one year.

Yandex.Money, the largest Russian payment processing company with 170,000 cash acceptance points, will serve as a primary partner, allowing buyers to pay for goods via their e-wallet or bankcard. Banking partners include the Bank of China, which will provide ruble to RMB FX conversion, and the Suifenhe Government, the governing body of the local border between Russia and China, which will subsidize promotions for TradeEase in both China and Russia.

The TradeEase platform brings unprecedented convenience to e-commerce consumers and merchants in Russia through a payments platform that is localized and customizable for merchants for an overall cost effective, more efficient way to buy and sell goods across borders, saving consumers both time and money. The platform enables merchants in China to sell through e-commerce sites to consumers in Russia who pay using local credit cards, debit cards or bank accounts while merchants in Russia can sell through e-commerce sites to consumers in China. An offline-to-online (O2O) capability will provide a physical location where consumers in China can shop items from Russian merchants and purchase through the TradeEase platform, and likewise for consumers in Russia to shop for and purchase Chinese goods.

“We developed the TradeEase platform in response to a growing need to bring frictionless e-commerce payments between China and Russia, and we are excited to expand on opportunities for trade and commerce between the countries,” said Kino Kwok, executive vice president of operations and business development at PayEase. “We look forward to further developing these relationships to foster growth between the nations.”

“The potential for economic development within China and Russia has never been more evident,” said Ron Hynes, executive vice president and head of global markets. “At Mozido, we’re proud to be establishing our foothold in these growing regions by enabling the first-ever cross-border O2O commerce between the countries.”