Russian social network VKontakte has launched today a new payment service, VK Pay. It allows the users to pay for services and goods via their social network account.

RBC reports that the integration of new system will be realized in several stages. Firstly, the function of payment through VK Pay will become available to owners of all groups on VKontakte. The developers expect the first clients to be small and medium business representatives, who use social networks as the main channel for promoting their products.

At the same time, VKontakte will start developing a conditional marketplace (e-commerce platform) for the network’s partners. They plan to offer various services on the platform, such as airplane and train tickets (OneTwoTrip), tickets to entertainment events (Kassir.ru, ShowGoGo), food delivery services (Grow Food and Delivery Club), etc.

Eventually, payment through VK Pay will be integrated on partner websites, who will be able to offer special conditions and promotions for VKontakte users exclusively.

Buyers and small sellers who distribute goods with VK Pay aren’t charged commission fees for deposit, withdrawal and transfer of money in this stage.

“Monetization is not a priority right now. We want to create a product and scale it for a large audience,” said a VKontakte representative. According to him, the company can introduce commission fees or profit from the service in some other way if the launch of VK Pay turns out to be successful.

Banki.ru reports that the network was able to exclude the fees “thanks to Gazprombank, which joined the project as a partner and covers all commission-related expenses”, citing VKontakte press release.

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