Thanks to this new service, Wildberries users will now have another convenient payment instrument from one of the largest banks in the country. In the coming year, both companies expect it will be used by up to 4 million people.

VTB Pay will provide marketplace customers with secure payment for purchases without additional confirmation being needed. The user only needs to link their VTB card once in their personal account on the website or in the Wildberries mobile application.

Integration of a new payment system into the trading platform and into the existing loyalty program will allow Wildberries to reduce the cost of accepting payments, as well as increase their conversion.

VTB Pay will initially be available only within the online resources of VTB partners to existing clients of the bank. Over the next year, its functionality will be expanded with new services, including the being able to open an account for clients of other banks. The implementation of new payment service in 2022 will allow VTB and Wildberries to offer customers an additional discount when paying for purchases using VTB Pay on the trading platform. Thus, buyers will receive the most cost-effective payment service.

Andrey Kostin, VTB President and Chairman of the Management Board said:

“VTB's partnerships with market leaders in various fields allows us to develop and offer customers the most advanced services. We have noted the tremendous market interest in various innovations in payment solutions - both businesses interested in reducing costs and customers who want to pay for purchases as quickly and safely as possible. The launch of VTB Pay, together with Wildberries, I am sure, will start a new stage of the development of retail in our country,”

Tatiana Bakalchuk, founder and CEO of Wildberries said:

“Wildberries offers its customers a wide range of Russian payment instruments, including the Fast Payment System, MIR and others. VTB is one of the key fintech players in our country that is actively developing and offering modern solutions to users. The integration of VTB Pay from our partner, VTB Bank, will allow us to provide Russians with another convenient payment instrument on Wildberries."