Russia’s VKontakte users to pay for services via PayPal

MOSCOW, Apr 5 (PRIME) -- Russian social network VKontakte has agreed on partnership with PayPal, which will accept payments of the network’s users for services, VKontakte said late Monday in a statement.

“VKontakte’s users can buy stickers and purchases in game applications via PayPal ‘voices’, a universal conventional unit to pay for presents,” the network said.

PayPal will also shortly start accepting payments for VKontakte’s advertising accounts.

“According to our figures, the volume of payments bound to the Russian companies that are linked to our platform has been showing good growth in foreign currency over the last two years. We expect our cooperation with VKontakte to raise this indicator further,” PayPal’s head in Russia Vladimir Malyugin said.

The U.S., the U.K. and Germany are leaders by the volume of payments from abroad via PayPal, because multiple Russian-speaking communities live in these countries, including a big audience of VKontakte’s users, Malyugin said.

VKontakte has more than 350 million registered users with a monthly audience of over 90 million people.

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