In 2026, Yinyingtong will make new moves in the field of cross-border payments.
Its cooperation with the Russian e-commerce platform Wildberries is gradually implementing the payment collection and cash withdrawal links of cross-border e-commerce sellers.
China Unicom, a cross-border payment service platform under Yinyingtong, has officially launched WB’s exclusive cross-border e-commerce payment collection and withdrawal function, providing sales collection, cash withdrawal and fund settlement services to Chinese overseas sellers.
Yinyingtong said that the basic settlement rate for this function is as low as 0.8%. In the future, it will also cooperate with the WB investment promotion team, the Russian cross-border e-commerce service team and the domestic and international trade cities to carry out investment promotion activities.
Public information shows that the Gome acquisition has not been completed, and the ownership change is still pending approval by the People’s Bank of China.
Yinyingtong currently belongs to related payment assets that are being acquired by related parties of Gome.
This cooperation with WB is not only the launch of a cross-border e-commerce payment collection function, but also related to the verification of the subsequent business value of this payment asset.
This function corresponds to the issue of fund availability after sellers on the WB platform receive payment from sales.
For cross-border e-commerce sellers, whether platform accounts can be withdrawn smoothly, whether settlement costs are clear, whether the payment cycle is stable, and whether exchange rates and handling fees can be measured will all affect stocking, logistics, marketing and daily cash flow arrangements.
Yinyingtong has made the service into WB’s exclusive collection and withdrawal function, accurately targeting more specific platform seller groups in Russia and surrounding e-commerce markets.
Wildberries is an important platform in the Russian e-commerce market.
Public reports show that the net profit of the RWB Group after the merger of Wildberries and Russ will be 175 billion rubles in 2025, up from 104 billion rubles in the previous year; in 2025, the company will invest 310 billion rubles in logistics, IT infrastructure and new projects.
The size of the platform, logistics system and platform investment capabilities determine its attractiveness to Chinese cross-border sellers, and also provide clear scenarios for WB sellers’ collection, cash withdrawal, currency exchange and settlement services.
Cross-border e-commerce collection services involve platform account collection, currency conversion, cash withdrawal, merchant review, interface management and abnormal transaction monitoring.
Sellers are sensitive to rates and will continue to pay attention to the stability of payment, exchange rate processing and after-sales response.
Especially in markets such as Russia, Central Asia, and Eastern Europe, sellers also have to deal with operational arrangements such as repayment paths, capital costs, domestic use, and tax compliance.
Yinyingtong is not a new entrant.
It was registered and established in Beijing in April 2005. In January 2013, it obtained the “Payment Business License” and was allowed to carry out Internet payment business and carry out prepaid card issuance and acceptance business in Beijing, Shanxi Province, Yunnan Province, Guizhou Province and other places; the renewal was completed in January 2023, and the validity period of the license was extended to January 2028.
After the payment business types are reclassified, Yinyingtong’s business types are adjusted to stored value account operation type I and stored value account operation type II, and the geographical scope includes Beijing, Shanxi Province, Yunnan Province, and Guizhou Province.
In terms of business form, Yinyingtong has not only a prepaid card business foundation, but also a background in Internet payment and cross-border payment services.
This time, the WB collection and cash withdrawal function is launched through China Unicom, and the business focus is closer to platform-based cross-border e-commerce collection.
Compared with traditional prepaid cards or general payment services, cross-border e-commerce seller services rely more on platform cooperation, transaction identification, fund settlement, customer review, abnormal transaction monitoring and service response.
Tongtong AI Social’s 2025 interim report disclosed that due to the impact of the transitional arrangements related to the “Regulations on the Supervision and Administration of Non-bank Payment Institutions”, the group temporarily suspended the submission of Tianjin Guanchuang’s ownership change application to the People’s Bank of China.
Subsequently, the “Details for the Implementation of the Regulations on the Supervision and Administration of Non-Bank Payment Institutions” was released, and the group resubmitted its application for approval and visited the People’s Bank of China Head Office and Beijing Branch several times in the first half of 2025 to communicate about the group’s development plan, application for change of actual controller, etc., and planned to submit supplementary approval materials before the end of October 2025.
By the time the 2025 annual results announcement was disclosed, the acquisition had not yet been completed.
Tongtong AI Social disclosed that Beijing Bosheng HSBC Business Consulting Co., Ltd. acquired the entire equity of Tianjin Guanchuang Meitong E-Commerce Co., Ltd. according to the equity transfer agreement on July 25, 2017.
The announcement shows that the completion of Tianjin Guanchuang’s acquisition is still subject to approval by the People’s Bank of China.
As of December 31, 2025 and the date of the announcement, the People’s Bank of China has not approved the acquisition of Tianjin Guanchuang, so the acquisition has not been completed.
On October 31, 2025, the relevant parties signed a supplementary agreement to the transfer agreement, and the total consideration of the Tianjin Guanchuang acquisition was adjusted from 720 million yuan to 576 million yuan.
The announcement also disclosed that the relevant arrangement enables the group to indirectly obtain the operating rights of Tianjin Guanchuang, and 80% of Tianjin Guanchuang’s pre-tax profits will be included in the company’s consolidated profits and losses as service fee income. This arrangement reflects the group’s current rights to related businesses before the People’s Bank of China formally approves the share transfer.
There have also been changes at the personnel level.
Information on major changes in non-bank payment institutions of the People’s Bank of China Beijing Branch shows that Yinyingtong was approved to change the director and general manager to Yuan Yaping, and added Song Chenxi as a director.
Yuan Yaping and Song Chenxi are related to Gome Group and Tongtong AI Social.
Yinyingtong cooperated with WB to extend cross-border e-commerce seller payment services, and it also appeared at the stage when Tianjin Guanchuang’s acquisition was still pending approval and the operational level had been advanced.
For Tongtong AI Social, the subsequent value of Yinyingtong depends on the real business performance.
Whether payment assets can generate new operating income depends on whether payment institutions can serve merchants, handle funds in real transaction scenarios, and maintain stable operations under regulatory requirements.
Compliance capabilities are still the key to subsequent business development.
In December 2025, information on the administrative penalty decision of the Beijing Branch of the People’s Bank of China showed that Yinyingtong was warned for eight illegal acts, including failure to ensure the authenticity, completeness and traceability of transaction information, non-standard payment interface management, illegal transfers without the same name, and failure to strictly implement the merchant real-name system. The illegal income of 966,094.84 yuan was confiscated and fined 2,827,185.37 yuan, for a total fine of 3,793,280.21 yuan.
This fine involves the management of Yinyingtong’s past payment business, and also requires continued proof of compliance capabilities for its subsequent cross-border e-commerce collection business.
Cross-border e-commerce payment collection involves merchant authenticity, transaction background, fund transfer, interface management, account usage and abnormal transaction monitoring.
Sellers care about rates and payment speed, platforms care about service stability, and supervision focuses on the authenticity of transactions, fund security, and implementation of compliance responsibilities.
Yinyingtong wants to turn WB seller services into a long-term business, and subsequent support will still depend on system capabilities, compliance capabilities and service response.
Gome’s acquisition of Tianjin Guanchuang, the main entity behind Yinyingtong, has been advancing for many years. The WB cooperation has added a cross-border e-commerce scenario to this payment asset.
Whether the acquisition can be finally completed still has to wait for the approval results of the People’s Bank of China on the ownership change of Tianjin Guanchuang.
Whether the business can form an increase depends on the actual usage of WB sellers, fund settlement experience, rate execution conditions, exchange rate processing capabilities and compliance operation performance.
For Yinyingtong, this cooperation will continue to promote cross-border payment services to platform sellers’ payment scenarios, and subsequent effects must be verified by sellers’ use, settlement stability and compliance operations.
