Nowadays, the Internet is a huge world that has unlimited possibilities. With it, you can make purchases without leaving your apartment (workplace). It is more convenient and faster than the traditional method, and often much cheaper. But this requires electronic money.
Electronic money is a virtual monetary unit, through which all kinds of payments are made on the Internet. These are, in fact, the same banknotes that have the same value as real money or funds in bank accounts, with the difference that their entire circulation takes place exclusively on the Internet. Electronic money can be in different currencies, they can be exchanged for real money and vice versa.
Electronic money is a perpetual monetary obligation of a financial and credit institution, expressed in in electronic format, certified by an electronic digital signature and redeemable at the time of presentation in ordinary money.
Electronic money is a new means of payment that allows you to make payment transactions and does not require access to deposit accounts.
Electronic money - in the broad sense of the word, 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 a narrow sense, they 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.
Electronic money is a means of payment that exists exclusively in electronic form, that is, in the form of records in specialized electronic systems. Currently, they are used mainly on the Internet, but can exist outside of it.
Electronic money is issued in the form of rather arbitrary payment units, for example, WMZ or WMR in the WebMoney electronic money system. As a rule, these units are tied to some currency.
Electronic money first appeared in Japan in the late 1980s. At that time, pre-paid chip cards of some Japanese telephone, transport and trading companies were being introduced, and other firms gradually began to use and accept them.
In Europe, the first applications of previously paid electronic payment products have been introduced since the early 1990s. They enabled users to store electronic money on cards. New means of payment attracted attention not only because of their innovative technical qualities, but also because they were issued by non-banking institutions. Soon, banks began to implement similar projects.
TYPES OF ELECTRONIC MONEY
There are 2 types of electronic money:
1. Electronically issued payment certificates or checks. These certificates have a certain denomination, are stored in an encrypted form, and are signed by the issuer's electronic signature. When making settlements, certificates are transferred from one system participant to another, while the transfer itself can go beyond the issuer's payment system.
2. Entries on the current account of the system participant. Settlements are made by writing off a certain number of payment units from one account, and entering them into another account within the payment system of the electronic money issuer. The second type is a fairly accurate analogue non-cash funds.
From the point of view of the owner of electronic money, both of these types are practically indistinguishable, and are used in approximately the same way. The capabilities of systems built on different principles are also almost identical.
MAIN CHARACTERISTICS OF ELECTRONIC MONEY
In modern monetary systems, electronic money is fiat money, has a credit basis, performs the functions of a means of payment, circulation, accumulation, and has 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 transactions.
Electronic money is characterized by an internal contradiction: on the one hand, they are a means of payment, on the other hand, the obligation of the issuer, which must be fulfilled in traditional non-electronic money.
Main characteristics of electronic money:
- the monetary value is recorded on an electronic device;
- they can be used for various payments;
- the payment is final.
Unlike conventional non-cash money, electronic money exists only within the issuer's payment system and cannot be transferred to other systems unchanged. This limitation greatly simplifies the creation and maintenance of electronic money systems, which leads to a very large reduction in the cost of transactions, since all transactions occur within the system.
LEGAL AND ECONOMIC STATUS OF ELECTRONIC MONEY
Initially, the foundations of the legal status and rules for the use of electronic money were enshrined in the Federal Law of June 27, 2011 No. 161-FZ "On the National Payment System", and later - in the regulations of the Bank of Russia. One of the latest was the Leaflet "On Electronic Money", approved by the letter of the Bank of Russia dated December 20, 2013 No. 249-T, which was recommended by the mega regulator for examination by credit institutions and distribution among their customers - individuals.
From a legal point of view, electronic money is an issuer's perpetual monetary obligations to the bearer in electronic form, the issue (issue) of which is carried out by the issuer, both after receiving funds, in an amount not less than the volume of obligations assumed, and in the form of a loan . The circulation of electronic money is carried out by assigning the right of claim to the issuer and gives rise to the obligations of the latter to fulfill monetary obligations in the amount presented by electronic money. Accounting for monetary obligations is carried out in electronic form on a special device.
In the economic sense, electronic money is a payment instrument that, depending on the implementation scheme, has the properties of both traditional cash and traditional payment instruments (bank cards, checks, etc.): bypassing the banking system, with traditional payment instruments - the possibility of making cashless payments through accounts opened with credit institutions.
There is a fundamental difference between electronic money and ordinary non-cash money, it lies in the fact that electronic money is not a substitute for ordinary money, but is a means of payment issued by an organization, while ordinary money (cash or non-cash) is issued by the central government. bank of a particular country. There is no direct relationship between non-cash funds and electronic money.
There is also a fundamental difference between electronic money and credit cards. Electronic money is a completely separate and independent means of payment, and a credit card is just one of the ways to use your bank account, all transactions take place with ordinary money, albeit in a non-cash form.
PAYMENT SYSTEMS
Just as banks are the circulatory system of the economy of any state, electronic payment systems act as the circulatory system and e-commerce is the main, but not the only direction of their use.
Each electronic payment system issues its own electronic money, which can correspond to different real currencies. Different electronic payment systems have different levels of development, different functionality, different coverage networks, different purposes. As a rule, electronic money of one payment system can be exchanged for the currency of another, but not always, in addition, such an operation will require a certain commission. Electronic payment systems earn on commissions that are charged for all transactions with their currency.
As a rule, electronic payment systems issue exactly as much electronic money as there is a need for them, that is, to the extent that users of the system deposit their real money to buy electronic currency. The issuance of electronic money is usually regulated by law, so electronic payment systems that are registered and operate in the territory of a particular country must adhere to these rules. However, often this does not actually happen, since electronic money is very difficult to trace, and the legislation in this area is still imperfect.
There are many electronic payment systems, however, when choosing, they are usually guided by two rules: popularity (prevalence) and reliability (degree of protection), and these factors significantly narrow the circle of considered electronic money. It is necessary to choose the most famous payment systems, since it is their currency that is supported by most online stores and sites.
Payment system WebMoney
Webmoney Transfer is the most widespread and reliable Russian electronic payment system for conducting real-time financial transactions, created for users of the Russian-speaking part World Wide Web. This is the undisputed leader among payment systems not only in Russia, but also in other CIS countries, and also has a certain circulation around the world. Legally, WebMoney Transfer is not a payment system, since it does not issue electronic money, but the so-called. title units by means of which the transfer of monetary rights of claims is carried out. The company was founded in 1998 and today there are more than 25 million participants in the WebMoney system, while WebMoney wallets are used by more than 35% of Runet users.
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. In total, the system uses about a dozen electronic currencies (including special credit currencies), among which are the equivalents of the currencies of the CIS countries, world currencies of the dollar and euro, as well as gold.
The most common wallets are of three types:
WMR - ruble wallets;
WMZ - dollar wallets;
WME - euro wallets.
To use the system, a special WebMoney Keeper program is used, which can be downloaded free of charge from the system's website upon registration. The level of protection of transactions is very high, so you can be sure that your money will not disappear anywhere and all transfers will reach their destination. When transferring money, a small commission is charged (0.8% of the transfer amount) in favor of the system.
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 mobile phone as a wallet
- owners of online stores accept payment for goods on their website.
Payment system Yandex Money
Yandex Money is the second most popular universal payment system on the Russian-speaking Internet. In mid-2002, Paycash entered into an agreement with Yandex, the largest Runet search engine, to launch the Yandex Money project. Currently, the system is not just a combination of reliable PayCash technology and Yandex's multi-million audience, but also a partnership with hundreds of participants. Among the partners are banks, Internet providers, online stores, post office, utilities, and other payment systems.
The main features of the Yandex Money payment system:
- pay for services (Internet access, cellular communication, hosting, apartment, etc.);
- accept payments on your site in more than 20 ways;
- electronic transfers between user accounts;
- buy, sell and exchange electronic currencies;
- translate cash 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.).
PayPal payment system
PayPal is the most popular electronic money system in the world. More than 110 million users around the world trust PayPal and use its services in thousands of online stores.
Of paramount importance in choosing PayPal is its globality. With the help of this payment system, you can make exciting shopping in online stores in the USA or China, while being a resident of Russia, Belarus or another CIS country. Due to the speed of action, funds will be transferred in a matter of seconds.
Registration in the system is absolutely free, and the time it takes to become a PayPal user is minimal. With a PayPal account, you can easily transfer funds from a variety of financial sources to a variety of recipients (such as an online store) without exposing your financial information.
The PayPal electronic payment system makes it possible to link a bank card or bank account to your account and replenish it at any time, transfer money to other accounts, pay for purchases, exchange currency. At the same time, currency exchange is performed automatically: if the sender's account is opened in a different currency than the payee's account, the system will convert this payment into the required currency. This payment system works with Visa, MasterCard and American Express cards, and more recently with Maestro.
Online wallet
For transactions with electronic money, as a rule, an electronic Wallet is used, which can be considered as an analogue of a regular wallet, or as an analogue of a bank account. From the point of view of the owner of funds, an electronic wallet usually represents a unique identifier, as well as one or more interfaces for interacting with the system, allowing you to control funds and make payments. Sometimes, to work with electronic money, you need to install special software on the user's computer.
To become a member of an electronic payment system, you need to register in it (this must be done only through the official website!) And open one or more electronic wallets, depending on the need.
Electronic money is securely protected by unique details that are used for each transaction. It is impossible to fake the details, which guarantees the safety of the virtual wallet. The lion's share of the theft of electronic money is due to the carelessness of users. The password from the electronic wallet should be complex. And it must be stored either in encrypted form on a computer (there are special programs for data encryption), or on some non-digital medium - for example, in a notebook that is always at home. You can not tell anyone the wallet password. It is also important to follow the rules of computer security: first of all, install a good antivirus. You need to use the services of only trusted online stores. If the store is mentioned on the site of the selected payment system, then you can be sure of it. If you receive an email stating that your account has been blocked, you should never follow the link provided.
INPUT AND WITHDRAWAL OF ELECTRONIC MONEY
You can replenish your e-wallet account in the following ways:
- in cash through a terminal or ATM that has a section of this payment system in the menu;
- transfer from a bank card;
- from a mobile phone account;
- in the office of the partner company.
When replenishing an account, a commission is usually charged. Its size depends on the chosen method of replenishment. To choose the option with the minimum commission, go to the website of the payment system. As a rule, the site has a section that lists all possible payment methods with an indication of the amount of the commission.
Withdrawals can also be made in various ways:
- receiving cash at the cash desk of the system operator or at a cash dispensing point;
- postal transfer to the name specified by the owner of the electronic wallet;
- bank transfer to the specified account;
- replenishment of the credit card account;
- conversion into electronic money of other systems.
Usually, a certain commission is taken for the withdrawal of funds. There are also limits on the amount of withdrawn amounts.
To withdraw funds in the Yandex Money payment system, it is enough to indicate the bank card number and confirm the operation with a password. The specified amount will be immediately withdrawn from the wallet account and transferred to the bank card account. This amount is not credited to the bank account instantly, you will need to wait, from one to three business days.
On the website of the electronic payment system, you can order a "branded" bank card, such as a Yandex Money or Webmoney card, and use these cards to pay in stores, withdraw cash from an ATM, and other transactions.
It should be noted that the gold reserve of the state does not support any electronic money system. All responsibility for certain electronic money lies with the specific system in which they are used. Based on this, such systems are best used as payment systems, without accumulating large amounts of money in their electronic wallets.
Advantages
The most important advantage of using electronic transfers is that almost all financial transactions are carried out virtually, bypassing cash transactions. You buy goods in an online store, or vice versa sell, it is most convenient to use this method of paying for purchases on the Internet.
Mobility is another plus. In any place, and at any time convenient for you, you can perform this or that operation from your electronic wallet. To do this, it is enough to have a mobile phone, computer or other device connected to the Internet. Operations can be performed 24 hours a day, 7 days a week.
Another advantage of electronic money is the speed of transfers between wallets, in almost seconds they come from one wallet to another. There is no need to go to the bank or the post office, "languishing" in line to send a transfer, pay public utilities etc. In addition to saving time, there is another argument in favor of electronic money - low commissions for money transfer operations, and sometimes their absence altogether.
Ease of use is also an important argument in favor of electronic money. Any person, even without special knowledge or experience, can become the owner of an electronic wallet, because. its creation does not cause any difficulties, and work with the account is extremely simplified.
Portability is another benefit. Electronic money does not need packaging, transportation, protection and organization of special storage facilities. No cases or safes. The most important thing is to securely store your data for entering the electronic payment system.
Anonymity is another important plus, since not everyone likes it when outsiders have the opportunity to look into his wallet.
disadvantages
Along with the advantages, there are also disadvantages:
1. The main disadvantage is that the issue of electronic money is guaranteed exclusively by the issuer, the state does not give any guarantees of maintaining their solvency.
2. Electronic money exists only within the framework of the system in which it is issued. In addition, electronic money is not a generally accepted means of payment that must be accepted.
3. Transferring funds from one electronic money system to another can be quite an inconvenient and expensive operation, such a transfer is much more expensive than a transfer within the system.
4. Interest is not accrued on the balance of electronic funds, and no other remuneration is paid to the client for their use.
5. The operator is not entitled to provide the client with funds to increase the balance of electronic money. Thus, lending through electronic money is excluded.
6. Working with electronic money requires some knowledge and experience. If you are just starting to work with this type of money, I recommend operating with those amounts that you are not afraid to lose.
7. If outsiders have gained access to the wallet and the money has disappeared, there will be nowhere to turn. It will not be possible to return the stolen money, since the legal basis for this aspect of financial activity on the Internet has not yet been fully developed.
If a couple of decades ago we would have been informed that in the future mankind would be able to use for calculations not only “real”, but also electronic money, for sure most would be skeptical about this forecast. Meanwhile, today use of electronic money is perceived as quite a common fact - with their help you can pay for goods and services, receive wages or, on the contrary, to pay remuneration to an employee, engage in charitable activities and conduct many other financial transactions. Today electronic money systems varied. Each of them has its own characteristics, advantages and disadvantages. And since a modern person definitely cannot do without the use of electronic money, it is important to know how payment systems of this type function, when and how they can make life easier for us, and what types of electronic money exist today ...
We learned about such a term as "electronic money" relatively recently.
Their rapid development began in 1993, and after 10 years, according to studies, electronic money began to be used in 37 countries around the world.
This is not surprising, because they allow you to quickly make settlements with correspondents who can be located almost anywhere in the world. Electronic money in Russia quickly gained popularity, because with their help you can significantly reduce the time and effort spent on transfers and payments. So relatively recently, it became possible to purchase goods for electronic money in online stores, pay bills for the phone or the Internet. Now these means of payment are in no way inferior to their “real” counterparts - such money has a similar value, although at a certain stage of the settlements they do not have any material expression.
Electronic and non-cash money: is there a difference?
A very common misconception is the identification of electronic and non-cash money. Actually, it is not. Electronic money does not act as a substitute for conventional financial instruments. They are issued in the same way as non-cash money. The only difference is that a specialized organization takes part in this process, and in the case of non-cash money, the central state bank acts as an issuer.
Also, do not confuse electronic money with credit cards. The cards themselves act as ways to use the client's bank account, and all transactions in this case are made using ordinary money. As for electronic money, they act as a separate means of payment.
Advantages and disadvantages of electronic money
Of course, many will be interested in why they are needed at all. electronic payment systems and electronic money, if they are connected with cash or non-cash funds only indirectly and, at first glance, do not differ from them? Meanwhile, electronic money has a large number of undeniable advantages:
1. Combinability and divisibility - the use of electronic money makes it possible to dispense with the issuance of change.
2. Low cost of issue - there is no need for minting coins, issuing banknotes and the cost of paint, paper, metals and other materials in connection with this.
3. High level of portability - unlike cash, the value of the amount of electronic money is not related to their weight or overall dimensions.
4. Ease in the process of settlements - there is no need to recount electronic money, since this process is automatically carried out using a payment instrument.
5. Simplicity in the organization of physical protection of electronic means of payment.
6. Reducing the impact of the human factor - the moment of payment is always recorded by an electronic system.
7. Save space and time - electronic money does not need to be packed, transported, counted or left in vaults.
8. The impossibility of hiding funds from taxation - we are talking about payments made through fiscalized acquiring devices.
9. Qualitative uniformity - electronic money cannot be damaged, like, for example, banknotes or coins.
10. Ideal persistence - electronic money can retain its qualities for a long period of time.
11. High level of security - electronic money is protected from denomination change, counterfeiting or theft, which is ensured by electronic and cryptographic means.
12. The exchange of electronic money for cash is simple - today electronic money can be withdrawn to a bank card or account, as well as received in cash using the services of specialized organizations.
But, like any other type of means of payment, electronic money has a number of disadvantages:
1. Lack of stable legal regulation - today, many countries have not yet fully defined the status of electronic money and, therefore, have not developed a number of laws that could regulate the process of mutual settlements carried out through the use of electronic payment systems.
2. The need to use special handling and storage tools.
3. The impossibility of restoring monetary value in the event of the physical destruction of an electronic money carrier - however, cash is not without this drawback.
4. Lack of recognition - the amount of electronic money cannot be determined without special technical means.
5. High probability that the personal data of payers can be tracked by fraudsters.
6. Low level of security - in the absence of the necessary security measures, electronic money can be easily stolen directly from the owner's account
Forms of electronic money
It is believed that modern electronic money can exist in two main forms: based on networks and based on smart cards. There are also such forms of electronic money as fiat and non-fiat money. The former are a kind of money of a certain payment system and are expressed in the form of one of the state currencies.
Since it is the state in its laws that obliges citizens to accept fiat money for payment, their emission, redemption and circulation is carried out in accordance with the rules of the current legislation and the central bank.
As for non-fiat money, they act as a unit of value of non-state payment systems. Such electronic money is a type of credit financial means and is regulated by the rules of non-state payment systems, which are different in each country.
Types of electronic money
Types of electronic money are quite diverse. A few years ago, there were a limited number of payment systems in the world. Today, their number is constantly growing. For convenience, all electronic money and systems should be divided into domestic and foreign ones.
Electronic money in Russia is represented by the following systems:
1. Webmoney - perhaps today it is one of the most popular payment systems that work with electronic money.
The system does not set any restrictions, allows you to make instant money transfers, and to make a transaction it is not necessary to open a bank account or provide complete information about yourself. System users can correspond and conduct transactions via secure channels by creating electronic wallets WMZ (dollars), WMR (rubles), WME (euro) and so on. The level of security when making transactions using Webmoney is quite high. However, users' wallets are often hacked by hackers. It is very difficult to return the funds afterwards - the exception is cases when the account owner or the system management is looking for a criminal in hot pursuit. Needless to say, it's not easy? But, at the same time, Webmoney constantly informs users about the measures that they can take to protect themselves. And they really do work.
2. Yandex money is another popular payment system that is similar to Webmoney in many ways.
Yandex money allows you to make instant payments within the limits of the system. The ability to manage the wallet directly from the official website, a high degree of protection and confidentiality, and the speed of settlements between users of the system are the main advantages that made Yandex money popular in Russia.
3. RBK Money is a kind of prototype of the Rupay payment system.
Electronic money transfer in this case is carried out instantly. All funds are equivalent to the ruble, and you can withdraw them to a bank card or account. To make a transaction, a mobile phone, computer, communicator is used. The main advantage of RBK Money is the ability to make payments for utilities, telephone, Internet quickly and easily.
4. ASSIST - a system created by Reksoft, which is a leader in the field of system integration and consulting in the development of software solutions and the implementation of information technology.
One of the main tasks of this system is to ensure credit card payments when making purchases in the Ozon online store. True, the development of electronic money subsequently led to the fact that ASSIST began to be used to pay for goods and services of a different nature.
Less well-known, but no less popular in Russia are also considered:
5. CG PAY
6.CHRONOPAY
7. CYBERPLAT
8. E-PORT
9 MONYMAIL
10.RUNET
11. SimMP
12. Z-PAYMENT
13. PILOT
14. TELEBANK
15. RAPID
16. RAMBLER
As for foreign types of electronic money and payment systems that work with them, their choice is also great:
1. PayPal is a large debit electronic payment system that allows you to work with 18 national currencies. Since 2002, PayPal has been a division of the well-known company eBay.
PayPal payments are made through a secure connection. The registration procedure involves the transfer of a small amount of money from the user's card to the account. After the identity of the account and card holder is confirmed, the funds will be returned. Registering and transferring funds using PayPal is free. The commission is paid only by the recipient of the payment, and its amount depends on the country of residence and status in the PayPal system.
2. Mondex - this system was developed by British banks and operates, for the most part, in Europe and Asia.
Mondex involves the issuance of a special smart card to the client, on which there is a chip - a kind of analogue of an electronic wallet. It is on it that electronic cash is stored - cash, which acts in the system in the status of a cash equivalent. The advantages of electronic cash are the possibility of making purchases via the Internet, storing electronic money in five currencies at once, and transferring funds to a correspondent without intermediaries. Mondex funds are accepted by many restaurants, shops, airlines, hotels, gas stations - 32 million enterprises worldwide that operate in the field of trade and services.
3. Visa Cash is a prepaid smart card that allows you to quickly and easily pay for small expenses. With Visa Cash, you can pay for movie or theater tickets, telephone conversations, newspapers, goods and services. The convenience of using Visa Cash is that you can quickly transfer a fairly large amount from your personal bank account to it.
4. E-gold is an international payment system that involves investing in precious metals.
Playing at gold rates, you can receive electronic money and carry out various financial transactions with their help. The main advantages of the E-gold system are anonymity, transnationality and the availability of a profitable affiliate program. At the same time, a fee is charged for storing money in the system every month. The same applies to transfers - for each transaction you will have to pay a certain percentage. You can always replenish your account using transfers from Yandex-money, Webmoney, etc. systems. Also, electronic money exchangers can cope with this function quite well.
In addition, among the well-known foreign payment Internet systems are:
5. CASHKASSA
6.ALERTPAY
7. EASYPAY
8. EMONEY
9. LIBERTY
10. MONEYBOOKERS
11. CHECKFREE
12. Cybermint
13. DATA CASH
14. DIGITCASH
15. EPASPORTE
16. FETHAND
17. GOLDMONEY
18. GOOGLE-CHECK
19.NETCASH
20. PAYMER
21.PECUNIX
If you decide to use electronic money: some tips for beginners
The first thing you need to remember is that electronic money is quite "real" and losing it can hurt you a lot.
That is why, do not be lazy to study the instructions of a particular payment system, pay close attention to ensuring the security of your account or account. Sometimes it is easier to purchase a special anti-virus program or a utility for detecting hacker attacks than later to lose a large amount of money, which will simply be stolen from your account.
Second, study the conditions for withdrawing, depositing and exchanging electronic money.
Each payment system offers the user its own conditions. Today, it is quite possible to exchange electronic money within two systems or currencies on favorable terms. The same applies to the input and output of electronic means of payment. In the first case, you can use terminals, and in the second, you can transfer money to a card, bank account or receive it in cash by contacting specialized organizations.
And finally, the third - do not give up the opportunity to use electronic money.
Today they are successfully used in various countries of the world as a means of payment for goods, works, services. Experts are already saying that in the coming years the number of people using electronic money for settlements will steadily grow. This is not surprising, because it is worth trying to carry out any financial transaction using electronic money only once, and you will also understand that it is convenient and simple!
Electronic money today: legislative news
A few years ago, electronic money was not equated to their paper counterpart. However, in connection with the expansion of the scope of their use, new ideas about means of payment appeared, and it became necessary to regulate such relations in a legislative manner. So on June 27, 2011, Russian President Dmitry Medvedev signed a new one, which will make it possible to regulate the procedure for making payments using electronic money.
This bill was adopted in December last year, but due to the amendments that were made to it over a long period of time, the document was signed only in June 2011. The main purpose of the law "On the National Payment System" is to establish requirements for payment systems in the area of their functioning and organization.
The bill describes the rules for the transfer of funds, and also introduces the concept of "clearing center". This status is played by an organization that ensures the acceptance for execution of applications from participants in the payment system at the time when they transfer their funds using electronic forms of payment. In addition, the law introduces 3 types of means of payment that can be used in the process of electronic payments (the properties of the systems are listed below):
1. Non-personalized electronic means of payment:
- user identification is not performed;
- the maximum balance at any time is 15 thousand rubles;
- the limit on the turnover of funds per month is 40 thousand rubles;
- use for mini-payments.
2. Personalized electronic means of payment:
- identification of the client is carried out;
- the maximum amount of funds on the account is 100 thousand rubles per month.
3. Corporate electronic payment instruments:
- can be used by legal entities with their preliminary identification;
- the maximum balance of funds at the end of the working day is 100 thousand rubles;
- allow the acceptance of electronic money as payment for services and goods.
It should be noted that the law "On the National Payment System" will also have an impact on the regulation of mobile payments. The operator of the electronic payment system will be able to conclude an agreement with a mobile operator. Based on this, he will receive the right to increase the balance of electronic funds of an individual who is a subscriber of this operator, at the expense of financial resources paid in advance to the telecom operator. One can even say that the new bill has created all the conditions for using a mobile phone as a device for making various types of payments.
In general, it can be seen that every year electronic payment systems and electronic money are becoming increasingly popular. Do not miss the opportunity to feel the comfort of using them, because electronic payments can really make the payment process more convenient!
Online wallet is a system that allows you to store money in electronic form and carry out any payment transactions using such a wallet.
In general, the concept of an electronic wallet is just beginning to gain popularity.
Types of electronic wallets
Nowadays, there are quite a few such electronic wallets, all of them are in great demand.
Webmoney (webmoney)
This electronic wallet was created in the late 90s. The symbol of this system is the ant. With it, you can make both payment transactions and transfers to settlement accounts or bank cards.
When transferring money to bank cards or a current account, a commission is charged, which will depend on the amount you transfer.
In order for the WebMoney wallet to be constantly with you, special applications have been created, both on a mobile device and on a computer. There is an option not to install applications, but simply go to the site and enter your username and password.
In order to start working through webmoney, you need to get a certificate. To do this, you need to upload scans of your passport and provide your personal data. Operations can be confirmed both via SMS, captcha, or using the question-answer method.
WebMoney is currently the leader in popularity in Russia. In general, this system is registered in London, but the certification center is located in Russia. But in Germany, this system is banned.
Yandex money
Yandex Money appeared already in the early 2000s. Using the web interface, this system became possible to work in 2005. Its disadvantage is the fact that it does not work with foreign currency, only rubles. However, these rubles can be transferred anywhere in the world. A plus is the fact that the commission for many operations is not charged at all.
To withdraw money from such a wallet, you can link it to your bank card or make a separate Yandex Money card. It is free to make. When using this system for the first time, you must also identify your identity.
We can say that this wallet is adapted specifically for work in the Russian Federation, so not everyone uses it.
At the moment, the main shareholder of this system is Sberbank of Russia.
Visa
Such a wallet can be easily replenished through terminals, of which there are a sufficient number in any city. This service is popular in Russia, primarily due to the very simple registration, the popularity of the brand of this wallet, the absence of commissions for internal transfers and the possibility of obtaining a card linked to an electronic wallet.
But there is a huge disadvantage of this system - a commission is charged for payments for mobile services. Another disadvantage is the low degree of security of such a wallet.
Qiwi
The advantages of this system is a rather simplified registration: just indicate your mobile phone, after which you will receive a verification password. You can replenish the balance of such a wallet without commission and all payments and transfers are carried out very quickly.
As in the Yandex Money system, you can order a plastic card and pay with it when making purchases, or simply withdraw money from ATMs. The validity period of such a card is one year.
You can link this wallet with the webmoney system and transfer funds from one wallet to another.
In this case, you should remember about the commission that is charged when using the webmoney system.
PayPal
PayPal is the largest payment system worldwide and the most widely used. It was created in the late 90s. In Russia, it is not as popular as in other countries of the world. Such a system must be tied to your bank card. To do this, you provide the details of your account, within a few days you will receive 2 transfers in the region of 10 kopecks. After that, you will permanently link your bank account with PayPal.
If you are actively shopping abroad, you definitely cannot do without this payment system. Until recently, Russians did not have the opportunity to use this system, but then they first made it possible to pay for purchases, and then replenish and withdraw funds from this card.
The withdrawal limit in Russia is $500. Creating an account is free, and the commission is charged not from the sender, but from the recipient of funds, which is a very convenient way when paying for purchases via the Internet.
Liqpay.com
Liqpay.com has been operating since 2008. It is most popular in Ukraine. The account number in this system will be your mobile phone number. Operations are confirmed via SMS.
In Liqpay, you can work with any currency. With it, you can make a variety of payment transactions. You can withdraw funds from your account to a card or in cash through ATMs.
Rapida Online
This system is not popular. Most often it is used by corporate clients. It works on the basis of Google.
Perfect Money
Most often it is used in any investment projects, or in financial pyramids. Payments can be made in foreign currency and gold equivalent.
Okpay
This system is positioned as a global one. Payments are made in various currencies. It is possible to get a card. The upside is the fact that if you bring other people into it, much more opportunities open up for you.
payeer
The system is very easy to use, makes it easy to transfer funds from one wallet to another.
RBK Money
RBK Money - appeared in Ukraine in the early 2000s.
Liberty Reserve
This wallet belongs to Costa Rica. For registration, you can provide false information about yourself, which is often used by scammers. Money can be transferred anywhere in the world. The system is very well protected. Works with two currencies: euro and dollar.
e-gold
This system works with metals such as gold, silver, platinum, etc. The main advantage is that it does not depend on the exchange rates of various countries. But while using E-gold there are a number of problems that are in the process of being finalized.
Single electronic wallet
This wallet allows you to pay for services online. You can use such a wallet both from a mobile device and through a personal computer or tablet. To register, just enter your phone number, to which you will receive an SMS with your wallet number and password. Many payments through this system are carried out without charging a commission. You can withdraw money from your account through any post office.
Beeline electronic wallet
The electronic wallet was created for making micropayments, no transaction fees are charged, the system works together with Alfa-Bank. It is possible to transfer funds to a bank card or to a Webmoney wallet.
Electronic wallets common in the Republic of Belarus
It’s worth mentioning right away that in the Republic of Belarus for a long time they refused to accept the electronic version of money. They came into use only at the beginning of 2013.
It can be said that about ten electronic systems are currently operating in Belarus.
- Of course, in the first place, as in the whole world, is the payment system webmoney.
- The next system is Belqi. This system is very young and works on the basis of the QIWI system known to us. All operations are carried out in the same way.
- Wallet One. This is the youngest system operating in the Republic of Belarus. You can connect both through a mobile phone and through a PC. The balance is replenished both through terminals and through InterPayBank. The commission for payments through this system is either minimal or not charged at all. You can also withdraw money from your account through a bank or transfer it to a card.
- EasyPay. Before you can start using it, you also need to go through the registration procedure. Commission on payments is charged at a rate of 2%.
- iPay. Very easy to use payment system, however, the commission can be charged from 0% to 4%, depending on the purpose of the payment.
- Berlio. It is designed to make payments for fuel both in the Republic of Belarus and around the world.
- There are also systems such as Prepaid cards. They are used as standard cards, but they are still referred to as electronic wallets.
Electronic wallets in Ukraine
- As elsewhere, the most popular is the payment system webmoney.
- Yandex money are also used quite actively, despite the fact that this system is focused on the Russian ruble. This system is used when paying for goods purchased in the ruble equivalent. The commission is charged at the rate of 0.5%.
- RBK Money. You can replenish the balance of such a wallet in a variety of ways, but ATMs are available only in Russia. The commission is charged from 0.3% to 0.5%.
- Ukr Money. This purely Ukrainian system was created quite recently. It actively cooperates with PrivatBank, which allows users of such a system to make all payments through this bank. You can use your account from a PC. Accounts are opened for you in rubles, hryvnias, dollars and euros.
- Internet. Money. Through this system, you can make any purchases and pay for them. To use it, you just need to install the application or go through the official website from any PC. The commission can be up to 0.5%, or not charged at all.
- e-gold. As already mentioned, it is used all over the world. It is good because it maintains complete confidentiality to the payer, which is why it is very popular among scammers. For the account itself, you will need to pay 1% every year.
- The system is also popular in Ukraine PayPal, which we have already discussed above.
Electronic wallets in Kazakhstan
- The most commonly used e-wallet in Kazakhstan is QIWI. He came to this area in 2011. He earned his prevalence due to simplified registration, the ability to replenish the balance from numerous ATMs, payments from this system are accepted by almost any online store and, of course, a reduced commission.
- webmoney. In Kazakhstan, it is considered one of the safest systems.
- Yandex. Money. As we said above, it focuses on the Russian currency, so it is often used when making payments in rubles.
- And, of course, PayPal is also actively used in Kazakhstan, especially when making payments in online stores in America.
It is worth noting that there is still a huge number of various electronic wallets. So, for example, in Moscow, the Troika system is popular, with which you can pay for travel on public transport. It was put into effect in 2013.
In the Moscow region, such a system is called Strelka, and in St. Petersburg - plantain. The same cards are available in many Russian cities with a developed transport system. Such cards allow minimizing the queues for paying for transport, and allows you to create a unified system of payment for transport services. Such a card can be obtained directly at the box office or kiosks. You can also replenish such a card through the box office.
Funds are kept on the account for five years after the last use of the card. You can put no more than 3,000 rubles on such a card.
In conclusion, I would like to say that before starting an electronic wallet, choose the currency with which you plan to make payments and only after that choose a convenient wallet, it is important not to forget about the security of such payments.
Everything in this world is constantly changing, and of course money is changing. People are gradually moving to electronic currency. But not everyone knows what electronic money is and how to use it. Many people think that electronic money is ordinary paper money, which is simply used to pay for Internet services. In fact, electronic money is virtual, conditionally invented banknotes that have the power of real paper money.
Where does electronic money come from?
Like any money, electronic money needs to be earned. The Internet is an unlimited source of earning electronic real money. Everyone earns their money in their own way, someone writes articles to order, someone plays poker, someone who sells shampoo or candles, someone plays on the stock exchange.
What can be bought with electronic money?
Almost everything. On the Internet, you can buy a house, an apartment, a car, or just a pack of pasta with home delivery. If we talk about the Russian-language Internet, then we mainly use electronic money to buy electronic equipment, cell phones, books, jewelry and cosmetics. In the west, many people have stopped going to conventional stores altogether. Since it is more convenient to buy in virtual stores than in ordinary ones. A person simply visits the website of the store he needs, searches for the necessary product, compares prices with other stores, and then orders home delivery. Convenience is that, firstly, a person saves his time. For example, you can choose a sofa at lunchtime, after work, by this time, the sofa will have already been delivered to the buyer's home, you can already relax on new furniture.
Secondly, no one puts pressure on the buyer and does not try to foist goods he does not need. That is, no consultant-seller will get on his nerves with his attempts to sell stale goods. Thirdly, any product, even a handkerchief, can be ordered with home delivery. In the USA, for example, in many electronic stores, delivery within the country is free. In our electronic stores, very expensive. The cost of delivery is made up of the weight of the goods, the commission for work and the distance to the buyer. So, for example, if you buy the cheapest shampoo on OZON.RU for 100 rubles, then its delivery, for example, to Nizhny Novgorod, will cost 250 rubles. That is, 2.5 times more expensive than the product itself. Of course, if the owners of online stores do not figure out how to reduce the cost of delivery, then it is unlikely that online shopping will be in great demand in Russia. 
How to use electronic money?
There are special computer programs for working with electronic money. The program is very popular in Russia WEB MONEY. The so-called electronic wallet is downloaded from the site of the same name, installed on your home computer, wallets are created in the desired currency (rubles, dollars, euros, etc.), and then you can use your money. The program is easy to use, although it has flaws in terms of money security.
How to convert electronic money into real rubles.
In order to convert electronic currency into paper currency, you need to come to the exchange office with a passport, having previously sent the electronic payment and your secret password to the wallet of the exchange office. At the exchange office, after you show your passport and name your secret password (you come up with this password and only you know it too), the cashier will give you your legal real paper money, only take a commission for services, about 4% of the amount.
Advantages of electronic money.
With electronic money, you can replenish the balance of your cell phone without leaving your home, and without any commission. With electronic money, you can pay for the Internet, utility bills, any goods that are sold in online stores. Electronic money saves time, and sometimes when paying with electronic money, some online stores make discounts.
Economists believe that electronic money is the future. Since they allow you to avoid queues at the bank, at the post office, in the store, and therefore save the most precious thing - our time.
Today we will talk about electronic money and electronic payment systems(EPS) is another very important topic, without understanding and, accordingly, the practical application of which it will be difficult to conduct a full-fledged. It is simply necessary to use electronic money for different ways of working and earning money on the Internet, for some types of investment, for committing and in other cases, which I will consider on the pages of the Financial Genius.
So, first things first.
What is electronic money?
Electronic money is a virtual monetary unit through which all kinds of payments are made on the Internet. As you know, the worldwide network now covers more and more spheres of human activity every day, and accordingly, the need for convenient and fast payments between users, including those located in different countries, is growing. It is this function that electronic money takes on.
These are, in fact, the same banknotes that have the same value as real money or funds in bank accounts, with the difference that their entire circulation takes place exclusively on the Internet. Electronic money can also be in different currencies, they can be exchanged for real money and vice versa (such an operation is called deposit/withdrawal of electronic money).
Electronic money and non-cash funds in bank accounts are not the same thing! Under no circumstances should they be identified!
Initially, electronic money was used to make a narrow range of payments, but now they have a very wide circulation, the scale of their use is constantly growing. Many offline businesses have already begun to accept the currency of popular electronic payment systems for payment: with its help, for example, you can buy air and railway tickets, pay utility bills, top up the accounts of mobile operators, pay for the Internet and cable TV, etc. .
In different countries, different definitions of electronic money may be used, voiced in legislative acts. Most users of electronic money are attracted by their relative anonymity and the convenience of making quick payments on the Internet.
Electronic payment systems.
Electronic money is issued by electronic payment systems (EPS). These are companies that issue virtual banknotes, develop and implement technologies for their circulation and provide all transactions with their electronic currency. Often electronic payment systems are part of the largest Internet corporations, one of their activities (for example, Yandex.Money, currencies of the largest social networks, etc.)
Each EPS issues its own electronic money, which can correspond to different real currencies. Different electronic payment systems have different levels of development, different functionality, different coverage networks, different purposes. As a rule, electronic money of one payment system can be exchanged for the currency of another EPS, but not always, in addition, such an operation will require a certain commission.
As a rule, electronic payment systems issue exactly as much electronic money as there is a need for them, that is, to the extent that EPS users deposit their real money to buy electronic currency. The issuance of electronic money is usually regulated by law, so electronic payment systems that are registered and operate in the territory of a particular country must adhere to these rules. However, often this does not actually happen, since electronic money is very difficult to trace, and the legislation in this area is still imperfect.
Electronic payment systems earn on commissions that are charged for all transactions with their currency.
Just as banks are the "circulatory system" of the economy of any state, electronic payment systems act as the "circulatory system" and e-commerce - these are the main, but not the only areas of their use.
Types of electronic money.
As I already wrote, each EPS issues its own types of electronic money. Some of them have already acquired international significance, some are used in a limited number of countries, some have not gone beyond their issuer.
A very important role for the future user is played by the correct choice of the electronic money system. Each person needs such an electronic payment system that will fully satisfy his specific needs. If necessary, it is always possible to register in several EPS at once.
Electronic payment systems of the world.
1. PayPal. Today it is the most popular global payment system that has been operating since 2000. It is a structural division of the American company eBay, which specializes in online auctions. Now the PayPal payment system operates in 203 countries of the world, although in some of them it is not possible to use the full functionality of the EPS, it operates in 26 world currencies, the number of its users is approaching 140 million.
In Russia and other CIS countries, PayPal has not yet become widespread, yielding to Russian payment systems, since there are no wide opportunities for replenishment, and especially withdrawal of funds. Nevertheless, it is gradually developing in our country too, so, for example, since September 2013, withdrawal from the system of Russian rubles to accounts in Russian banks has become available, albeit with a rather large commission. PayPal's main currency is the US dollar.
2. e-gold. A payment system that issues electronic money mainly in gold (based on the number of troitsk ounces), as well as in other precious metals. The e-gold system has become popular among Internet scammers over the past years and is actively used in the activities of online casinos and all kinds of virtual games for money. In recent years, e-gold has been going through hard times: its founder was arrested, and transactions were periodically blocked.
3. perfect money. Electronic payment system, created in 2007, and operating mainly in euro, dollar and gold. It has also become famous for its use in many HYIPs and financial pyramids, however, it is quite popular in global settlements between individuals and business representatives, and is actively used to pay for goods and services on the Internet.
Some other electronic payment systems of the world can also be noted: AlertPay, Google Wallet, Moneybookers, Elios Gold, e-Bullion, ePayService, etc.
Electronic payment systems in Russia.
1. WebMoney (WebMoney). The undisputed leader among payment systems not only in Russia, but also in other CIS countries, also has a certain circulation around the world, although, for example, in Germany, WebMoney activities are prohibited by law. Legally, WebMoney Transfer is not a payment system, since it does not issue electronic money, but the so-called. "title units" through which the transfer of monetary claims is carried out. The company itself was founded in 1998 and declares its activities as "an international settlement system and an environment for network business."
To date, the WebMoney system has about 25 million participants, while WebMoney wallets are used by about 35% of Runet users. In total, the system uses about a dozen electronic currencies (including special credit currencies), among which are the equivalents of the currencies of the CIS countries, world currencies of the dollar and euro, as well as gold.
2. Yandex money. The second most popular electronic payment system in Russia, founded in 2002 as one of the structural divisions of the largest Russian search engine Yandex. Yandex.Money uses the electronic equivalent of the Russian ruble for settlements. The system is designed to provide Internet business and e-commerce mainly on the territory of the Russian Federation, although it has little circulation in other CIS countries.
3. Qiwi. It is also a fairly popular electronic payment system in Russia, although, of course, compared to the first two, it loses. Qiwi electronic money appeared in 2007 and is used as a means of not only electronic, but also non-cash payments (using a Visa card). In addition to Russia, the QIWI system operates in 7 more countries, including Belarus, Kazakhstan, Moldova, the USA and others.
Other Russian EPS include RBK Money, Single Wallet, Z-Payment, PayCash, ICQMoney, currencies of social networks VKontakte, Odnoklassniki, Moi Mir, etc.
Ukraine has created its own payment system Internet.Money, and in Belarus - EasyPay. But in terms of popularity and volume of payments, they are significantly inferior to Russian WebMoney.
How to use electronic money?
All electronic payment systems operate on approximately the same principle. To become an EPS member, you will need to register in the system (this must be done only through the official website!) And open one or more electronic wallets, depending on the need.
When choosing an electronic payment system, pay attention to the fact that it can provide all the features you need, provide convenient and affordable ways for you to deposit and withdraw money.
The registration procedure in most cases is free. In some cases, it will be enough to conduct online registration on the site, while in others you will need to download and install a specific application to work in a specific EPS. Such applications exist for both stationary and mobile devices.
Then it all depends on how you plan to use electronic money. If you need to accept them as payment for your services (for example, if you are), you must provide your e-wallet number to the person who will make payments to you.
If you yourself want to pay for something with electronic money, you will need to replenish your wallet with real money. There are different ways to do this, each EPS has its own: using international plastic cards, through payment terminals, bank accounts, exchange offices, etc.
When registering in the payment system, you should use your real data, otherwise you may have problems with the withdrawal of funds. In some cases, especially for large transactions, you will need to provide your passport data in a scanned form.
All services of electronic payment systems are protected by various security measures, but the user must also take care to protect himself from all kinds of scammers, of which there are always enough on the Internet.
Carefully study the information on the website of the electronic payment system, follow all the instructions and try to provide the highest possible degree of protection for your electronic wallets. Remember that this is, in fact, the same money, and losing it will negatively affect the state of your personal finances.
This was a general introduction to electronic money and electronic payment systems. In future publications on I will consider some of the EPS in more detail and dwell on important points related to the use of electronic currencies. Stay with us, stay tuned for updates and improve your financial literacy. See you soon!
