In one of our articles, we have already described how payment systems and electronic payment systems (ICS and EPS) work. In addition, we have mentioned some electronic payment systems working in our country. In this article, we will tell you more about the most popular electronic payment systems in Russia.
A little History
The beginning of electronic payment systems in the world is considered far from 1871. Yes, yes, that is when the first “electronic” transaction was made. Quotation marks we used because in the full sense of the word this transfer cannot be called electronic. The money transfer was made using the telegraph and it was made by the Western Union Company. However, this event by right is considered the first in EFT history.
In 1988, in Russia began work company PayCash, which opened the era of electronic payment systems in our country. A little later came WebMoney, which today can be called the leader among the Russian electronic payment systems. Total in the country there is more than 20 electronic payment systems.
When choosing an electronic payment system, of course, you can take the simplest way and register at one of the largest. This WebMoney and YouMoney (in the recent past Yandex.Money). However, the optimal choice should be based not only on the fame and scale of the EPS but also on compliance with its functionality and conditions to your needs. We hope that our review will provide you with the necessary information for making the right choice.
WebMoney.
The system was founded in 1998, and today the number of users of WM worldwide exceeds 40 million people.
The owner of the system, the company WM Transfer Ltd, describes WebMoney as “an international system of payments and the environment for doing business in the network.
By registering in the system, the user can create the necessary amount of “e-wallets” for each of the currencies. The system has the so-called “title signs”, settlement units, currency equivalents: WMR (since August 2019 WMP) – rubles; WMZ – dollars; WME – euros; WMU – Ukrainian hryvnias; WMB – Belarusian rubles, etc. The system also has a bitcoin wallet WMX.
After registration, the user receives an individual identification number WebMoney (WMID), creates the purses he wants, and begins to use the system. The interface allows you to conduct financial transactions, exchange “title signs” between their wallets, trade on the exchange, take credits, etc.
YouMoney (Yandex.Money)
September 17, 2020, PS Yandex.Money, which existed since 2002, rebranded, because of which the payment service was named YouMoney, and Yandex.Kassa, respectively, became known as YouKassa.
Multicurrency wallet, except the ruble, supports 10 currencies, including USD, EUR, GBP, Belarus rubles. The user can perform a variety of financial operations over the Internet:
– Payment for goods and services from the wallet account or a bankcard tied to the wallet;
– Transfers to other users of the EPS without fees;
– Transferring money to accounts of other e-payment systems;
– Cashback and discounts in online stores and online services of YouMoney partners;
– Payment of traffic fines, taxes, utilities, and other services;
– Contributions on loans and microloans;
– Investments, charity, and much more.
The user can order a plastic card of YouMoney with cashback (the amount in the wallet is equal to the amount on the card), or a virtual card to make payments over the Internet.
QIWI
The payment system has been working since 2007 and is used in 22 countries, including Russia, Moldova, Belarus, Kazakhstan, the United States, and others.
To register in QIWI, you only need a phone number. In addition to the ability to conduct electronic payments from the purse, the user can make transfers from a bank card. The system offers a wide range of methods of deposit and withdrawal.
If you wish, you can execute a virtual or plastic card associated with your Kiwi Wallet. Replenishment of a purse and payment of many services are carried out without the commission.
PAYEER
Payeer payment service was created in 2012; today the number of Payeer users exceeds 2.5 million people. Service is available in more than 200 countries.
The list of standard services includes:
– Transfers within the system and to the wallets of other EPS;
– Withdrawal of funds;
– Currency exchange;
– API Payments;
– Options for trading platforms
– Automatic payments to the selected details.
The payment service has its cryptocurrency exchange. The system offers users a wide choice of ways to deposit and withdraw funds. You can make instant payments even without registration. Registered users can earn on the currency exchange, as well as on an affiliate program.
SKRILL
Skrill has been in operation since 2001. The EFT allows you to send and receive money transfers only by e-mail address. The payment service operates in almost 200 countries and is very popular among freelancers, gamblers, and traders. EPS payments are accepted by almost all bookmaker services, as well as eBay.
The system offers users three types of accounts:
Personal – for sending money quickly, making international payments conveniently, and safe online shopping.
Commercial – for receiving payments, making payments through EPS, payments to suppliers and employees, international commercial payments.
VIP – these accounts are subdivided into bronze, silver, gold, and diamond levels (turnover from 6000 euro per quarter, 15 000, 45 000, and 90 000 respectively). VIP users have several significant privileges.
The advantages of the EPS include a multilingual interface, a large number of deposit methods (more than 100), and support of 40 currencies, cryptocurrency exchange, loyalty program, and affiliate program.
ADVCASH
The payment service has been working since 2014 and is available in more than 200 countries. Advcash (Advanced Cash) platform is a universal payment system for payments all over the world. Users get a multicurrency account, a wide range of depositing methods, free transfers inside the system, the ability to withdraw money to the card. The internal exchanger can be used to buy/sell cryptocurrencies. Many consider the service as a reliable place to store digital money.
PERFECT MONEY
The service was created in 2007 and is distributed in Russia and CIS countries. Now the system conducts more than 40 million transactions daily and is popular as a universal tool for conducting financial transactions online in different currencies.
Users have an opportunity to make and receive payments online, pay for goods and services online in any convenient currency (rubles, dollars, euros, and cryptocurrencies), and receive monthly payments from the account balance and 4% annual interest on open accounts.
Among the advantages of PM users, note the simple and clear interface, low commissions (0.5%), responsive support, and high level of security.