How electronic money works. Withdrawal of funds from an electronic wallet

Electronic money has existed relatively recently. But have already received recognition from Internet users. However, for many, the essence of electronic payments remains not fully understood. What is electronic money in Russia?

General points

Japan first used electronic money in the 1980s. The beginning was laid by the introduction of prepaid chip cards of individual companies, which over time began to be used and used by other economic entities.

For Europe, the first use of payment prepaid electronic products began since the 1990s. Individuals could save their funds on special cards (Mondex, Proton, Danmont and Primeur Card).

Interest in such means of payment was attracted by innovative techniques, as well as the lack of affiliation with the banking sector. After some time, similar projects began to be implemented by banks.

A little later, new payment technologies came to Russia. And if at first they were perceived with some doubt, then by 2013 the turnover of the electronic settlement market in the Russian Federation reached almost two and a half trillion rubles.

Several factors contributed to the development of the scope of electronic money. In particular, the active spread of online commerce, the low price of Internet transactions, the possibility of instant execution of transactions without personal identification.

The scale of distribution of electronic means of payment and their considerable importance in settlements between legal and private entities have led to the need to resolve the main issues of application.

The state was required to:

Basic definitions

Electronic money, in essence, is money in the usual sense of the word. They can pay for purchases in online stores, pay for various services, transfer to the bank to accounts and cards.

But they have such an advantage as mobility. There is no reference to time and place. You can make a payment from anywhere in the world and at any time of the day. The main condition is the availability of access to the Internet.

The main formulations are such that electronic money is:

The term "electronic money" is far from unambiguous. It is used in a variety of ways. This definition refers to systems for the storage and transfer of both official and private currencies.

Consequently, the rules for the circulation of electronic money are regulated both by the provisions of the Central Banks and by the personal regulations of payment systems.

In a more simplified sense, electronic money payments can be thought of as a transfer of ordinary cash from one bank account to another. The procedure is quite simple and does not require unnecessary formalities.

Their qualifications

Most often, electronic cash is classified as follows:

In Russia, such electronic payment products are considered the most popular:

• Yandex money;
• WebMoney;
• Single wallet;
• RBC Money;
• paycash;
• Rapida.

Most of the Russian electronic payment systems are represented by non-financial organizations. Their activities are not considered financial.

This allows payment systems to reduce the costs incurred in the implementation of banking activities. But at the same time, this prevents the conduct of legally full-fledged financial relations between the participants in the system.

It is this state of affairs that requires clear legislative regulation of the concept of electronic money and the rules for their use.

Current regulations

Initially, the legality of the circulation of electronic money was questioned, since it does not recognize electronic money as money. Therefore, payment systems have found a way to solve this problem.

In particular, electronic cash received a different name. For example, WebMoney title units or PayCash advance payments.

Thus, electronic money does not become cash, but title units or securities prepaid in cash.

At the same time, electronic money has become a way of accounting for the rights of claims of users of electronic payment systems to representatives of these systems.

Electronic payments, in essence, are an exchange of messages in which the transfer of title units and property rights is confirmed.

As for the legal aspect, the payment system is this guarantor, guaranteeing third parties the payment of an amount equivalent to a unit of the system through a bank.

From a legal point of view, electronic money is an analogue of checks, securities, gift certificates. That is, payment systems issue securities using paperless checks to the bearer.

Also noteworthy. It assumes the possibility of carrying out legal circulation of securities not provided for by law. This means that the circulation of electronic money does not violate Russian law.

Currently, the electronic money market in Russia is regulated by the Central Bank of the Russian Federation. The main governing law is.

On May 16, 2014, some changes came into force. Adjustments to Federal Law No. 161 and made.

In accordance with the new amendments, mandatory user identification has been introduced for individuals, non-profit organizations and organizations established outside the Russian Federation. At the same time, a simplified identification procedure became possible.

Features of electronic money

The main feature of electronic money is its virtuality. Such means of payment cannot be seen, touched or put in a pocket.

But this does not diminish their value. Of course, you can’t pay with such money in ordinary stores. However, you can make purchases via the Internet, pay for various payments and services, transfer funds to other persons.

As for other features, electronic money can be personalized and anonymous. It depends on the rules for the circulation of electronic cash in the system.

At the same time, various attempts are being made to personalize most of the electronic means. To do this, limits are introduced for anonymous users, the size of an anonymous wallet is limited.

Protective cryptographic methods can also be called an important feature of electronic means of payment. They allow you to achieve a certain security when using electronic cash.

That is, electronic money is reliably protected by an electronic digital signature. This eliminates the possibility of counterfeiting electronic money.

Who are used

Basically, in Russia, electronic money is used to pay for cellular communications, Internet access, utilities, and Internet purchases.

Often, electronic payments are used to transfer funds to other users of the system. Teenagers often spend money on online games. The older population pays for goods and services, taxes and fines in this way.

According to the number of users who at least once used electronic payments, Russian statistics for a large city look like this?

At the same time, 14% of the younger generation spend money earned on the Internet. 48% of the older generation are novice users.

Increasingly, electronic money is used in online business. At the same time, electronic money is considered as a form of modern market economy.

Electronic payments allow you to instantly make settlements between entrepreneurs and customers. This eliminates many of the costs inherent in doing business offline.

Forms of their use

According to the forms of using electronic means, there are several main ways.

These include:

Internet banking	Using this method, you can transfer money from your bank account to any other, including an electronic wallet account. The received electronic money can be used for any possible purpose. At the same time, the transfer can be tracked online. Instead of a signature, a virtual bank client uses an EDS, which is considered the most reliable method of protection
Credit cards	The method is convenient because it allows you to pay in any currency, including electronic. But it is advisable not to transfer personal data when using this option, since credit card protection is not so perfect.
ATMs	You can cash out your electronic money through an ATM. To do this, it is enough to order a virtual debit card in the payment system and transfer funds to it from an electronic wallet. The cashing out process is no different from using a regular plastic kata. You need to enter the details of the virtual card and withdraw cash from it
bank checks	This option is acceptable for receiving cash from a bank. You can transfer electronic money to a bank account and then withdraw money. Or transfer electronic funds to a bank that will exchange them for cash. The same method can also include the transfer of electronic money through the system of international transfers with receipt in any bank

What is their advantage

The most significant advantages of electronic money include:

• the ability to pay anywhere and at any time;
• almost instant transfer of funds;
• convenience and ease of use.

Not so obvious advantages include the possibility of reducing queues at the cash desk and reducing the burden on accounting. In addition, electronic money is protected from counterfeiting.

They are portable, meaning they won't take up much space no matter how many. They are ideally divided, which eliminates the need to wait for change.

Electronic money can be stored for as long as you like, from this their appearance will not become unusable. With electronic payments, the human factor is completely excluded, that is, all payments will reach their destination.

Disadvantages of such payments

Of the shortcomings, the following are especially significant:

• the need to pay interest to the system when withdrawing money;
• the possibility of hacking a wallet;
• loss of money when you lose your password.

With a more detailed analysis of the shortcomings, they are practically reduced to zero. When withdrawing funds, you need to pay a certain percentage for withdrawal. But banks also charge a commission for servicing and transactions.

Therefore, this disadvantage is rather the usual cost of contacting third parties for financial transactions. The e-wallet can be hacked. In this case, a third party will enter the system and spend or transfer the stored funds.

And most of the time it's the user's fault. You can enter the system only using the login and password that the owner of the wallet comes up with. The possibility of stealing confidential data depends on how carefully he stores his data.

Another drawback is that if you lose your password, you will not be able to log into the system. And this means that no transactions with electronic means will be possible. the main advice is the same - keep the password in a safe place.

But do not neglect the password recovery method. To do this, you need to identify your identity in as much detail as possible when registering in the payment system.

Ideally, provide scans of documents, link mail and phone. After that, even the loss of the password is not terrible. With the help of identification data, you can get the right to resume access and change the password.

In general, electronic money is a very flexible tool that allows you to expand the scope of cash and greatly simplify cash flow.

In Russia, the use of electronic payment systems is not yet well developed. But given the pace of development, it can be assumed that in the future electronic money will be given a fairly significant priority.

The neighboring countries of the Russian Federation also use various electronic payment systems. Belarus is no exception. On the territory of this state, an electronic payment system called Easypay has been operating for a long time. It has its own characteristics, is connected to the ERIP system, as well as acquiring ...

Electronic payment systems are becoming more and more popular. Active network users have long appreciated the convenience of using virtual currency. And how easy is it to cash out money from an electronic wallet? Recently, electronic payment systems have taken a strong place in the financial sector. Caused this phenomenon...

Thanks to high technology, it became possible not only to earn money via the Internet, but also to receive your salary without leaving home. Electronic wallets are software. With it, the wallet owner can hold funds electronically, conduct various transactions, including retail payments and...

With the development of credit circulation, electronic money appears, which has certain advantages over paper:

• increase in the speed of transfer of payment documents;
• simplification of processing of bank correspondence;
• reducing the cost of processing payment documentation.

In economic literature electronic money is defined as:

• money in the computer memory accounts of banks, the disposal of which is carried out using a special electronic device;
• electronic storage of monetary value using a technical device;
• a new means of payment that allows you to make payment transactions and does not require access to deposit accounts;
• perpetual monetary obligation of a financial and credit institution, expressed in electronic form, certified by an electronic digital signature and redeemed at the time of presentation in ordinary money, etc.

In international practice are prepaid or value-storing financial products in which funds or value information is stored on an electronic device.

Electronic money - in a broad sense words are considered as a set of subsystems of cash (issuance is carried out without opening personal accounts) and non-cash money (issuance is carried out with the opening of personal accounts) or as a system of monetary settlements through the use of electronic technology.

Electronic money - in the narrow sense represent a subsystem of cash issued into circulation by banks or specialized credit institutions. Here, the main difference is the optional use of a bank account when making a payment, when the operation is carried out from the payer to the recipient without the participation of the bank.

Properties of electronic money

Main characteristics of electronic money:

• the monetary value is recorded on an electronic device;
• it can be used for various payments;
• the payment is final.

Nevertheless, the issue of independent allocation of electronic money into a separate type remains debatable, as well as their definition, role in and functions.

In modern electronic money are fiat money, have a credit basis, perform the functions of a means of payment, circulation, accumulation, have a guarantee. The basis for issuing electronic money into circulation is cash and non-cash money. Electronic money acts as the issuer's financial obligations when servicing non-cash turnover as a requirement for it. They can be considered as an element of the monetary aggregate. Automatic maintenance of bank accounts (crediting and debiting funds, transfers from account to account, accrual of interest, control over the status of settlements) is carried out electronically (electronic transfers). Tools for electronic access to accounts are constantly evolving, however, money is still represented in the form of account entries.

Properties of electronic money are based both on traditional monetary properties (liquidity, portability, universality, divisibility, convenience) and relatively new ones (security, anonymity, durability). However, not all of them in the process of application meet the requirements of high liquidity and stable purchasing power, and therefore the issue and use in circulation require a special procedure for regulation and control. Electronic access tools are payment cards, electronic checks, remote banking.

Settlements on the Internet. "Network" electronic money

These calculations are based on the concept of electronic cash. Electronic cash is digital cash in electronic form used in network settlements, which is electronic banknotes in the form of a set of binary codes that exist on a particular medium, moved in the form of a digital envelope over the network. Electronic cash technology allows you to pay for goods and services in a virtual economy by transferring information from one computer to another. Electronic cash, like real cash, is anonymous and reusable, and digital banknote numbers are unique. They can be transferred from one person to another, bypassing the bank, but at the same time keeping them within the network payment systems. When paying for a product or service, digital money is transferred to the seller, who either transfers it to the bank participating in the system for crediting to his account, or pays it with his partners. Currently, various network payment systems are widespread on the Internet.

Yandex money. In mid-2002, Paycash entered into an agreement with Yandex, the largest search engine on the Runet, to launch the Yandex project. Money (universal payment system created in 2002). The main features of the Yandex payment system. Money:

• electronic transfers between user accounts;
• buy, sell and exchange electronic currencies:
• pay for services (Internet access, cellular communication, hosting, apartment, etc.);
• transfer funds to a credit or debit card.

The transaction fee is 0.5% for each payment transaction. When withdrawing funds to a bank account or otherwise, the Yandex.Money system withholds 3% of the amount of withdrawn funds, in addition, an additional percentage is charged directly by the transfer agent (bank, post office, etc.).

webmoneyTransfer - payment system, which appeared on November 25, 1998, is the most common and reliable Russian electronic payment system for conducting financial transactions in real time, created for users of the Russian-speaking part of the World Wide Web. Anyone can become a user of the system. The means of payment in the system are title units called WebMoney, or abbreviated as WM. All WM is stored in so-called electronic wallets. There are four types of wallets most common:

• WMZ - dollar wallets;
• WMR - ruble wallets;
• WME - wallets for storing euros;
• WMU - wallets for storing the Ukrainian hryvnia.

The WebMoney Transfer payment system allows you to:

• carry out financial transactions and pay for goods (services) on the Internet;
• pay for the services of mobile operators, Internet and television providers, pay for a subscription to the media;
• exchange WebMoney title units for other electronic currencies at a favorable rate;
• make payments by e-mail, use a mobile phone as a wallet;
• online store owners to accept payment for goods on their website.

WM is a global information system for the transfer of property rights, open for free use by everyone. Using WebMoney Transfer, you can make instant transactions related to the transfer of property rights to any online goods and services, create your own web services and network enterprises, conduct transactions with other participants, issue and maintain your own instruments.

There are several ways to replenish a WM-wallet:

• bank transfer (including through Sberbank of the Russian Federation);
• postal transfer;
• using the Western Union system;
• by exchanging rubles or currency for WM at an authorized bank or exchange office;
• by receiving WM from any of the system participants in exchange for services, goods or in exchange for cash;
• using a prepaid WM-card;
• through the E-Gold system.

RUpay- the payment system, which has been operating since October 7, 2002, is an integrator of payment systems, where payment systems and exchange offices are programmatically combined into one system.

The main features of the RUpay payment system:

• making electronic transfers between user accounts;
• buy, sell and exchange electronic currencies with a minimum commission;
• make payments to other electronic payment systems: WebMoney, PayPal, E-gold, etc.;
• accept payments on your site in more than 20 ways;
• receive funds from the system account at the nearest ATM;
• manage your account from any computer connected to the Internet".

paycash- electronic payment system. It began its work on the Russian market in early 1998, and is positioned primarily as an affordable means of fast, efficient and secure cash payments on the Internet.

The main advantage of this payment system is the use of its own unique developments in the field of financial cryptography, highly appreciated by Western experts. The PayCash payment system has a number of prestigious awards and patents, among which is the “Certificate of Special Recognition from the US Congress”. At the moment, PayCash technology is used by such well-known payment systems as Yandex. Money (Russia), Cyphermint PayCash (USA), DramCash (Armenia), PayCash (Ukraine).

PayCash is based on digital cash technology. From the point of view of the user (seller or buyer), PayCash technology is a set of "electronic wallets", each of which has its own owner. All wallets are connected to a single processing center, which processes information received from the owners. Thanks to modern technologies, users can make transactions with their money without leaving their computer. The technology allows you to transfer digital cash from one wallet to another, store it in the Internet bank, convert it, withdraw it from the system to traditional bank accounts or other payment systems.

E- goald- an electronic payment system created in 1996 by Gold&Silver Reserve (G&SR). E-gold is an American settlement system of electronic money, the main currency of which is precious metals - gold, platinum, silver, etc., and this currency is physically backed by the corresponding metal. The system is completely international, works with all currencies of the world, and anyone can get access to it. Banks of the USA and Switzerland act as guarantors of the reliability of this payment system. The main difference of the e-gold payment system is that all funds are physically backed by precious metals stored in Nova Scotia Bank (Toronto). The number of users of the c-gold payment system in 2006 amounted to about 3 million people. The main advantages of the e-gold payment system are as follows:

• internationality - regardless of the place of residence, any user has the opportunity to open an e-gold account:
• anonymity - when opening an account, there are no mandatory requirements for specifying the real personal data of the user;
• ease and intuitiveness - the interface is intuitive and user-friendly;
• no additional software installation required;
• versatility - the wide distribution of this payment system allows you to use it in almost any financial transaction.

There are two ways to enter money into the system: receive a transfer from another participant or transfer money in any currency to the E-gold system using the mechanism described on the site, through a bank transfer.

You can receive or cash out money by ordering a bank transfer on the E-gold website, by transferring to other systems (PayPal, WebMoney, Western Union) or to any credit or debit card.

Stormpay- payment system, opened in 2002. Any user can register in this system, regardless of the country of residence. One of the advantages of the system is its universality and lack of binding to a specific geographical region, since the system works with all countries without exception. The Stormpay account number is the address Email. Its main drawback is the inability to convert funds from a Stormpay account to E-gold, WebMoney or Rupay. This payment system allows you to transfer funds to credit cards.

PayPal- electronic payment system, one of the most popular and reliable among foreign payment systems. By early 2006, it served users from 55 countries. PayPal was founded by Peter Thiel and Max Levchin in 1998 as a private company. PayPal provides its users with the ability to receive and send payments using e-mail or a mobile phone with Internet access, but in addition, users of the PayPal payment system have the ability to:

• send payments (Send Money): transfer any amount from your personal account. In this case, the recipient of the payment can be either another PayPal user or an outsider;
• fulfill a request to receive a payment (Money Request). Using this type of service, the user can send letters to his debtors containing a request to make a payment (issue an invoice for payment);

place special tools for accepting payments (Web Tools) on the website. This service is only available to Premier and Business account holders and is recommended for use by online store owners. At the same time, the user can place a button on his website, by clicking which the payer gets to the website of the payment system, where he can complete the payment procedure (you can use a credit card), after which he returns to the user's website;

• use Auction Tools. The payment system offers two types of services: 1) automatic sending of requests for receiving payment (Automatic Payment Request); 2) auction winners can pay directly from the website where the auction is held (Instant Purchase for Auctions);
• carry out financial transactions using a mobile phone (Mobile Payments);
• perform simultaneous payments to a large number of users (Batch Pay);
• carry out a daily transfer of funds to a bank account (Auto-Sweep).

In the future, the possibility of receiving interest for keeping funds in the account is being considered.

moneybookers- electronic payment system, opened in 2003. Despite its relative youth, it successfully competes in many areas with such a giant as PayPal. The main advantage of this payment system can be considered its versatility. Moneybookers is easy to use for both individuals and owners of online stores and banks. Unlike PayPal, the Moneybookers payment system serves users in more than 170 countries, including Russia, Ukraine and Belarus. Moneybookers features:

• no additional software is required for operation;
• the account number of the Moneybookers user is an email address;
• the minimum transfer amount in Moneybookers is 1 euro cent (or the equivalent in another currency);
• the ability to automatically send money according to a schedule without user intervention;
• The system commission is 1% of the payment amount and is withheld from the sender.

Most active Internet users use electronic money to pay for goods and services online. Payments with electronic money are instant, and they are a good alternative to bank cards and bank accounts. Most novice Internet users have heard about electronic money, but they have a very superficial idea about them. However, as you master the computer and the World Wide Web, sooner or later, there will be a moment when you need to make a payment on the Internet.

In this article, we will talk about what electronic money is, the history of its occurrence, how to get it, about its advantages and disadvantages.

Electronic money (or in other words - virtual money) cannot be touched or put in a wallet, but they have the same value as physical ones. And there is nothing surprising in this, because. in order for you to have electronic money on the Internet, then you need to get real banknotes there to exchange for an electronic equivalent or receive them from someone by transfer, who, in turn, also contributed real banknotes, i.e. electronic money on the network does not appear out of nowhere as in a fairy tale.

Virtual funds can be compared to a bank card to which your salary was transferred. You cannot touch the money, but you can pay with it or transfer from card to card using online banking via a computer or smartphone.

To receive, store and make payments with virtual money, you must have an account in the payment system that operates with electronic money. There are a large number of payment systems on the Internet, both foreign and Russian. They do not issue money, like the Central Bank, but simply provide operational services for a small commission percentage.

Here is a small list of what you can pay with virtual funds:

• goods and their delivery in online stores;
• mobile communication;
• to buy tickets;
• book hotel rooms;
• pay utility bills;
• pay fines.

And in general, any goods or services sold via the Internet can be paid for with electronic money.

History of electronic money

The official history of electronic money dates back to 1993, when European central banks drew attention to the growth of electronic payments on the Internet and initiated a study of this phenomenon. In 1994, according to the results of the study was the official recognition of electronic financial transactions in the network. And since 1996, the central banks of the Big Ten countries began to carry out financial monitoring of electronic money in countries with a developed Internet.

On the territory of Russia, electronic money has been used for the first time since the mid-90s of the last century, gradually increasing turnover and actively developing. Already by 1998, the first electronic payment system (EPS) Webmoney appeared in Russia, carrying out operations in all major currencies.

At the moment, the most common electronic payment systems in Russia are:

1. Yandex money.
2. Qiwi.
3. webmoney

Payments from the above systems are accepted by all online stores in Russia

To pay for goods and services with electronic money, you need to open an account, or the so-called "purse", in one of the EPS (electronic payment system) that you are going to use.

To start electronic money, you need to follow these steps:

1. Register in the selected electronic payment system and get an account number, the so-called "wallet".
2. Identify yourself. Without personal identification, the use of EPS is possible only with restrictions.
3. Enter the required amount in real money to your wallet in any way (through a terminal, communication stores, online banking, from a bank card, etc.) that is available for this payment system.

Registration and further work with the wallet should not cause any problems, you just need to follow the step-by-step instructions of the payment system.

Advantages of electronic money

The main advantages of electronic money are:

1. Instant payment for goods and services at any time of the day using a computer or smartphone. Each payment system has an application for mobile device.
2. Quick transfer of funds to relatives and friends.
3. Fast replenishment of the wallet with a minimum commission or no commission at all, depending on the method of replenishment.
4. Easy to use and set up an account.
5. All popular payment systems issue a virtual or real card, from which you can pay online without being afraid to "shine" your main salary or credit card. And in the case of receiving a physical plastic card from the payment system, you can pay it in ordinary stores or withdraw money from it that was transferred to you in the system.

Disadvantages of electronic money

Along with undeniable advantages, virtual money also has a number of disadvantages.

1. Commission when withdrawing funds from the wallet to your bank account or card.
2. Commission when withdrawing electronic money from a payment system card.
3. If the password is lost, access to the wallet is lost, which will be difficult to restore.
4. The possibility of hacking the wallet by intruders and, accordingly, the loss of money is not ruled out.

Do not forget about the payment system, and also do not let your password become known to anyone, otherwise you can lose all the funds on the electronic wallet. When registering a wallet, come up with one that will be impossible to pick up.

In addition, despite the serious measures taken by payment systems to protect user funds, the possibility of hacking a wallet cannot be completely ruled out. Therefore, do not constantly keep large amounts in your EPS account.

Share.

There are two main groups of electronic money, which are divided by the type of media (Figure 8).

Rice. eight

Smart cards are multipurpose plastic cards with built-in chips (microprocessors).

A money file is recorded on their chip - the equivalent of money, previously transferred to the issuer of these cards. Bank customers transfer money from their accounts to smart cards, transactions on which are carried out within the limits of the amounts credited to them. The mode of maintaining a personal account of a smart card differs from the mode of maintaining a personal account of traditional cards. An ordinary card in itself does not contain information about the state of the account, it is only a tool for accessing the current account. At the moment the bank credits funds to the card account to which a regular payment card is linked, no crediting is made to the bank card itself. At the time of replenishment of the smart card funds, the balance on the personal account is reduced by the amount by which the card was replenished. Electronic cash appears on the card, as a result of which it becomes possible and safe (in terms of the occurrence of an overdraft on the account) to authorize transactions offline. Examples of such maps are shown in Figure 9.

Rice. nine electronic money based on smart cards

Smart cards have their advantages and disadvantages (Figure 10).

Rice. ten

ASSIST can serve as an example of a successful payment system in Russia. It has passed the stage of formation together with the famous and most popular online store in our country OZON.ru. Its uniqueness lies in the fact that it provides modules for electronic stores that help to accept all types of payment means - these are plastic cards, and Yandex.Money, and WebMoney, as well as its own cards based on an assistid number. Thus, smart card-based electronic money is a monetary value stored on bank multi-purpose cards in virtual form. This value can be used for payments to the card issuer, individual or legal entity. Currently, smart cards issued by non-bank organizations, such as telephone, medical or transport cards, have become widespread. Typically, these cards are used to pay for the services of only one company.

Based on networks (network-based) - this is electronic money that works on the basis of a software system presented in the form of a program or a network resource. These systems make extensive use of data encryption and digital signature. This type of payment is widely used to pay for goods in online stores, services of remote workers or game time in online games. An example of these systems is WebMoney, Yandex.Money, RUpay, E-gold, E-port, PayCash, MoneyMail, CyberPlat, Rapida, QIWI, [email protected], etc.

This money is currently the most common, most convenient and secure means of payment.

On the basis of networks, fiat and non-fiat electronic money are distinguished (Figure 11).

Rice. eleven

Now consider fiat electronic money on the example of "PayPal".

The payment system "PayPal" is quite well known in Russia, although it does not work with Russian clients. It is a debit system using the concept of electronic money.

There are two main types of accounts in PayPal: for US citizens and international (for non-US citizens). The account for US citizens provides more opportunities, but requires the disclosure of information about the client, up to the tax registration number. Quite a lot of foreign online stores and service companies are connected to PayPal. Therefore, some Russian citizens connect to the system by distorting their registration data (substituting non-existent addresses in Europe, the USA, etc.). This method is not safe and is not recommended. The payment system has more than 100 million customers worldwide and accepts payments from VISA, MasterCard credit cards and insures the payment. PayPal is the largest online payment system. A huge number of online stores and online auctions trade through it. A buyer who paid for a purchase through PayPal and was deceived by the seller can open a dispute and demand a refund from PayPal. That is why cases of fraud when working through this payment system are very rare. A huge number of sites accept payment through "PayPal" and by credit card.

Also, fiat electronic money includes: the African payment system "M-Pesa" - this system operates in Kenya and Tanzania and is a provider of payment services and the Ukrainian electronic payment system GlobalMoney (GlobalMoney).

We now turn to the consideration of non-fiat money based on networks. Electronic non-fiat money is an electronic unit of value of non-state payment systems, respectively, emission, circulation and redemption occurs according to the rules of non-state payment systems.

There are such electronic payment systems in Russia as WebMoney, Yandex.Money, Qiwi, RUpay, E-gold, E-port, PayCash, MoneyMail, CyberPlat, Rapida, etc. Most of the systems are not anonymous or partially anonymous. Almost any online store offers payment for goods through these systems.

Each user chooses the most suitable option.

This can be compared, for example, with a mobile operator. In order to choose the right campaign, it is recommended to familiarize yourself with all the proposed types of mobile operators, with their rules, with the size of the commission that they charge for the transaction, in turn, some campaigns provide bonuses for using their system.

Of course, often, users choose their most popular system and believe that it is better than the rest, the most optimal. Since there will be fewer problems with depositing / withdrawing funds in this kind of system, it is supported by many Internet resources. WebMoney can be attributed to such a system. This system is the most popular on the Internet today and has a very high degree of protection, in connection with which users practically do not worry about the safety of their money. It is gradually merging into the financial market - with the involvement of WebMoney, they are already conducting auctions, selling shares, precious metals, and many other operations.

The second most popular type of electronic money is the well-known Yandex.Money system. Its main difference from the WebMoney system is that it has one universal account, which is measured in rubles.

The next system QIWI Wallet is a payment system that allows you to make payments for services and money transfers from a mobile phone operating in the GSM standard. The system allows you to pay for a mobile phone, Internet access, pay TV and many other services without interest and commissions anywhere where GSM phones work.

The legal space of the QIWI Wallet system is the Russian Federation. For settlements in the system, the electronic currency Mobile Wallet RUB is used, the equivalent of Russian rubles.

Consider the above-mentioned most famous payment systems ("Webmoney", "QIWI", "Yandex.Money"): on what principle they operate, what functions they perform in comparison (Table 7).

Table 7 Comparison of the most famous payment systems in the Russian Federation

	Yandex money
Client location restrictions	No restrictions, open for use, cross-border	Instant payments regardless of location	No restrictions
Anonymity	Not anonymous	Anonymous with restrictions and identified	Anonymous, except for mobile phone input
Confidentiality	Built-in message encryption algorithm. With its help, all users of the system have the opportunity to carry out correspondence via secure channels.	Confidentiality is present, there is also protection for all payments	Advanced software allows you to control each payment and ensure the safety of financial resources in the system
Wallets	WMZ - dollar wallets; WMR - ruble wallets; WME - euro wallets; WMU - wallets for storing the Ukrainian hryvnia.	Wallets of the same type: Yandex.Wallet and Internet.Wallet	Single-type wallets with multi-currency - support for various payment methods (cash, non-cash, electronic currencies, bank cards).
Interest charged	Transfer within the system - 0.8% (maximum 50 conventional units for WMZ, and WME, 1500 for WMR, 250 for WMU, 100000 for WMB, 55000 for WMY and 2 for WMG, % charged by banks, terminals, etc.	Transfer within the system - 0.5% Electronic money exchange - 3% Wallet replenishment - % charged by banks, terminals, etc.	Transfer within the system - 0% Transfer from a QIWI card - 0% Wallet replenishment - 0% (when depositing> 500 rubles),% charged by banks, terminals, etc. Commission for payment and transfer is 3%
Peculiarities	Various types of wallets: light, classic and others, the presence of a well-known exchange office RoboxChange	Client terminal-Java-application; banking system Contact	Bank transfer system Contact, Internet wallet management from a computer using specialized software

So, with the help of electronic money, you can make purchases in online stores, pay receipts, mobile and city communications, programs, deposit money into your account in social networks, online games, buy coupons, air and railway tickets, make money transfers and much more. other.

To do this, there are two types of electronic money (based on smart cards and based on networks). The use of existing types of electronic money is not difficult. It is enough to log into your account, select the desired operation, enter the required amount and make a payment.

As a result, we can say that the choice of the system depends entirely on the user, therefore, you should give preference to the campaign you like, pay with electronic money and not worry about their safety. With care, they won't go anywhere!

It should be noted that electronic money in many educational publications is considered not as a separate type of money, but as a kind of credit money (as well as plastic cards). Theoretically, this can be considered true, but we considered it necessary to single them out as a separate type of money due to the originality of their form, specific manifestations of functioning, active development and undoubted prospects. Electronic money is beginning to gradually crowd out credit money itself.

Electronic money was a product of the rapid development of the economy and technology. Since the last quarter of the XX century. they have become an actively developing reality. Their idea was first formulated in 1970 during the introduction of the first digital signature systems. An analysis of the evolution of forms and types of electronic money indicates that their form, type, functions and involvement in substitutes (surrogates) are changing.

Cash substitute, almost money pear-topeu)- a substitute for full-fledged money, preserving their most important properties.

Money surrogate- a substitute for full-fledged money, which has only some of their properties and is put into circulation by business entities arbitrarily for the purpose of making payments.

So, from the late 60s to the second half of the 80s. 20th century used non-cash electronic money- first in the form of records on accounts in bank computers, then in the form of electronic impulses on a plastic card. The first non-cash electronic money was a monetary substitute, and their functions were reduced to traditional ones - a measure of value, a means of payment and a means of accumulation. But already plastic cards do not perform the function of a means of accumulation - they are a money surrogate.

In the early 1990s and the first half of the 2000s appeared cash electronic money in the form of electronic impulses on a technical device (electronic wallet, digital money). As early as 1995, 90% of all US bank payments were made electronically. Currently, electronic money circulates in 37 countries of the world. In Europe, there is the Electronic Money Institute (ELMI), which controls the issue of electronic money. Now electronic money plays the role of a monetary substitute, performing almost all the functions of money - not only a measure of value, a means of circulation and payment, but also a means of accumulation.

Electronic money (electronic money)- these are the financial obligations of the issuer in electronic form, which are on an electronic medium at the disposal of the user. They are issued by the issuer upon receipt of funds from other persons in the amount of the issued monetary value and are accepted as a means of payment by other (other than the issuer) organizations.

Interpretations of electronic money close to each other were proposed by specialists of the European Central Bank, the Bank for International Settlements, Directive of the European Parliament of September 18, 2000 No. 2000/46 / EC, individual economists (B. Friedman, M. King, B. Cohen, O. Issing, C. Goodhart, M. Woodford, L. Meyer). Basically, electronic money is defined as "electronic storage of monetary value using a technical device for making payments not only to the issuer, but also to other participants." Technical means an electronic device belonging to the holder (a card with a microprocessor or a PC hard drive).

In Russia, the regulatory document for the electronic payment industry is the Federal Law of June 27, 2011 No. 161-FZ "On the National Payment System". It fixes the definition of electronic money (EMF), formulates the basic requirements for the transfer of EMF, as well as electronic money operators. The legal definition of electronic money is as follows: " Electronic money- funds that were previously provided by one person ... to another person, taking into account information on the amount of funds provided without opening a bank account ... to fulfill the monetary obligations of the person who provided the funds to third parties and in respect of which the person who provided the funds funds, has the right to transfer orders exclusively using electronic means of payment" (Article 3 of the Law).

As you can see, one of the signs of electronic money is their transfer without opening a bank account. Engaged in EMF translation electronic money operator. An electronic money operator in Russia can only be a bank (credit institution), including a non-bank credit institution that has the right to make money transfers without opening bank accounts and other related banking operations (Article 12 of the Law). At the beginning of 2014, 82 electronic money operators were registered in the Russian Federation.

It should be distinguished from electronic money electronic means of payment. This is a means and (or) a method that allows the client of the money transfer operator to draw up, certify and transmit orders in order to transfer funds within the applicable forms of cashless payments using information and communication technologies, electronic media, including payment cards, as well as other technical devices.

Thus, two technological types of electronic money can be distinguished - based on prepaid smart cards (smait card-based) and on the basis prepaid software products using computer networks (network-based). Card-based money is called electronic wallets. (e-purses), and network-based digital cash.

Since mid-2014, prepaid bank cards can only be used for transactions with electronic money. The most famous card-based systems are Visa Cash, Proton, Mondex, private payment systems CLIP, WebMoney, Yandex.Money, RBK Money, Single (QIWI) Wallet, PayPal, e-Gold, i-Free, etc. Electronic money itself represents is the electronic equivalent of real money. For example, electronic money of the WebMoney system is equivalent to dollars, rubles and euros; money in the e-Gold system is the equivalent of precious metals (gold, silver, platinum).

In Russia, the law allows the use of the following electronic means of payment (electronic wallets): non-personalized(anonymous), personalized and corporate electronic wallets. Limits and restrictions are set on volumes and operations, as well as on transfers between wallets. Without personal identification, you can transfer up to 15 thousand rubles. No more than 40 thousand rubles can be transferred anonymously per month. More than 100 thousand rubles. cannot even be in a personalized electronic wallet. It is prohibited to transfer funds from corporate electronic wallets to anonymous ones and transfers between corporate wallets, but it is allowed to transfer money from a corporate to a personalized wallet. Interest on the balance of electronic funds is not accrued. Replenishment of electronic wallets can occur through terminals, via the Internet, GPRS, mobile phones.

Foreign IT companies are developing new generation e-wallets. A new technology is being created that allows you to combine all payment and credit plastic cards of one owner within a single gadget integrated with a smartphone.

As part of the development of electronic payment systems, a project is being implemented universal electronic citizen card (UEC), provided for by the Federal Law of the Russian Federation of July 27, 2010 No. 210-FZ "On the organization of the provision of state and municipal services." This card gives citizens access to the entire range of public electronic services. In addition to the payment (banking) application, the card has pension, medical, educational, transport and other social applications. It is also planned to introduce e-passport.

Electronic money is only a part of the general system of electronic payment systems, which together embody the active dematerialization of money. The structure of the market of electronic payment systems (EPS) in Russia is shown in fig. 1.3.

Rice. 1.3.

In order to ensure the stable development of the electronic money market in Russia, a non-profit partnership has been operating since 2009 - the Electronic Money Association (AED), which united the leading participants in the electronic payments market, representing about 80% of the Russian market (WebMoney, Yandex.Money, QIWI, i-Free), as well as the national industrial associations NAUET (National Association of Electronic Commerce Participants) and NAMMS (National Partnership of Microfinance Market Participants).

The market of electronic payment systems in Russia is very dynamic. Almost every year it almost doubled. Market turnover by the end of 2017 will expand to 3.7 trillion rubles.

Technically, the market consists of two segments − remote financial services and terminals. Terminals and ATMs are a popular service channel. They account for about half of all payments. Despite the fact that Russia has doubled the number of ATMs and tripled the number of POS terminals since 2006, it ranks 18th and 43rd in the world in terms of their number per 10,000 people, respectively. The number of ATMs, electronic terminals, imprinters used to pay for goods and services with payment cards, as of October 1, 2013, amounted to 1314.0 thousand devices. Transactions worth 3.5 trillion rubles were carried out through them. - per inhabitant of Russia is 24.7 thousand rubles. Popular non-bank terminals are terminals of QIWI, CyberPlat and ElecsNet systems, bank terminals are terminals of Sberbank, Promsvyazbank, Moscow Credit Bank, Russian Standard Bank.

However, the share of the turnover of payment terminals will gradually decline - according to expert estimates, by 2017 to 30%. Accordingly, the value will increase remote services. These are mobile operator payment service, mobile banking, SMS banking, Internet banking, electronic wallets. The turnover of remote services makes up half of the entire market of electronic payment systems.

As of October 1, 2013, the number of remote access accounts opened with Russian banks for individuals and legal entities amounted to 102.9 million accounts. Of these, 40.7 million accounts were opened via the Internet and 28.8 million accounts were opened via mobile phones. Of the 4 billion electronic transactions made per year (including the use of payment cards), payments using the Internet and mobile phones account for a fifth in number and almost two-thirds in volume.

Internet banking is a kind of remote banking service with access to accounts and transactions at any time and from any computer with Internet access. For banks, the benefits of Internet services are undoubted - this is a non-capital-intensive type of business that allows you to save on staff maintenance and software installation costs. The organization of Internet banking is available even to small and small banks. The motives for using Internet banking for customers are also obvious - expanding the number of services, access to more information, reducing transaction costs and the most valuable resource - time, confidentiality of transactions, better control of personal accounts, etc.

Despite the fact that in Russia now 46% of citizens use the Internet (in addition to e-mail) daily or several times a week, a small contingent uses Internet banking. According to The Economist and the Bank of Russia, Internet banking users still make up only 14% of the total number of Internet users in Russia (45% in the USA, 50% in Poland, 60% in France and Canada). Less than 8% of bank payments are made via the Internet. The range of Internet services is not too wide. It basically boils down to getting payment history and account balance. Opening a deposit and blocking it, obtaining a consumer loan, reissuing a card and other opportunities are not provided by all banks. According to experts, the Russian segment of Internet banking by 2017 may grow to 1.6-1.8 trillion rubles.

Mobile banking (mobile banking) is an extremely promising service channel. This is a service that allows you to monitor the status of a bank account and manage it using a mobile terminal using wireless access technologies. More and more banks are releasing mobile financial applications. This uses tablet computers, smartphones, regular phones on all modern platforms - iPhone, iPad, Android, Windows, Phone 7 and 8.

The development of the market for contactless payments using a mobile phone as a multifunctional payment instrument has great prospects. Convenient and comfortable services include payments for cellular communications, the Internet, provider services and housing and communal services, search for an ATM, transfer from card to card, between accounts, including those in other banks, currency exchange. The most well-established mobile banks in Russia based on smartphones operate at VTB24, Bank St. Petersburg, Moscow Industrial Bank, Russian Standard Bank, Promsvyazbank.

Clients who have switched to mobile banking services are less likely to use Internet banking through a desktop computer. The number of individual accounts opened in Russian banks and accessed via mobile phones is approaching 30 million. By 2015, 63 million people will use mobile Internet from smartphones, and 12 million people from tablets.

Today, the minimum virtual office program is available in most credit institutions. The development of broadband access and the widespread introduction of smartphones and tablets has made the service more accessible and widespread.

In the summer of 2013, Sberbank of the Russian Federation announced the launch of a modern service complex, which includes seven models: a call from the site, a BigPad multifunctional tablet, mobile applications and the SBOL Internet bank ("Sberbank OnL@yn"), ATMs and terminals, Internet kiosks , virtual rooms and minicomputers for VIP clients. The attributes of the updated service model will become available both at the offices of the credit institution (for example, Internet kiosks) and from customers' mobile devices. Clients can make video calls to the bank from iOs and Android devices.

At the end of the XX century. exotic dematerialized currencies such as digital gold and virtual cryptocurrencies have also appeared. Digital gold(English) digital gold currency) is a kind of Internet currency based on precious metals (eng. gold based internet currencies), which appeared in 1995. A typical unit of digital money is a gram of gold or a troy ounce. Digital gold is backed by stocks of gold, silver or platinum taken into custody. The amount of available electronic money is fixed in the form of the equivalent of gold units (grams). Then you can spend available electronic money to buy foreign currency or goods, or receive pseudo-currency from other participants in the system. Digital currency is also used by electronic payment service companies to make mutual settlements in units with the same value as a gold bar.

Digital gold is issued by private entities - for example, Gold Limited, GoldMoney. com, e-billion.com. It is believed that deposits in the form of digital gold protect against inflation, devaluation and other risks inherent in fiat currencies. But at the same time, digital money creates other risks. Thus, the secrecy of information gives rise to doubts about the 100% provision of this money with precious metals. The OS-Gold pyramid is known, exposed in the physical absence of gold bars reserved for customers. At its peak, the system was transacting $2 billion a year.

Through operations with digital gold, money laundering is possible. There are also operational risks, including risks of information security, inadequate control. In general, this is a narrow niche of electronic means of payment, which does not have significant prospects.