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Russia’s Sberbank launches mobile phone transfer to China

News Snapshot:

State-controlled Sberbank, which has customers in 18 countries, launched the service together with Western Union. For a transfer fee of 1%, customers can credit an Alipay account in Chinese yuan with just the recipient’s full name and phone number. Inter-bank transfers using a mobile number are common in Russia. Sberbank now offers cross-border transfers in more than 30 countries. Other Russian banks, such as online-only Tinkoff (TCSq.L) also offer similar services. Register now for FREE unlimited access to Reuters.com Alipay is part of Alibaba Group (9988.HK). Story Highlights MOSCOW, Feb 1 (Reuters) – Russia’s largest lender Sberbank (SBER.MM) on Tuesday…

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