Electronic money. Electronic payment systems

As a result of studying the material in this chapter, the student should: know

• definition of electronic payment and electronic payment system;
• electronic payment instruments;
• requirements for payment systems; be able to
• formulate requirements for an electronic payment system;
• identify and classify electronic payment systems according to the payment instruments used;

own

• knowledge of the types of payment systems and payment instruments used in EC;
• modern technologies electronic payments.

Definition of electronic payment and electronic payment system

Payment is money paid for purchased goods or services, for the use of resources, reimbursement of a loan, settlement of obligations, etc.

Electronic payment is a payment made using electronic telecommunications and electronic payment instruments. Electronic telecommunications include information networks, primarily the Internet and networks cellular communication, networks of ATMs and electronic payment terminals, POS terminals.

Electronic payment instruments include bank transfer of money from one account to another, carried out using electronic means, bank plastic cards, smart cards, electronic money in the form of electronic checks and in the form of virtual monetary units. Electronic payments are divided into cash and non-cash. Non-cash payments are used for remote transfers Money, when making payments with digital money, bank and non-bank plastic cards, etc. Non-cash payments include Internet payments made on the Internet

using accounts on plastic cards, accounts of cellular operators, through ED.

Electronic payment system. An electronic payment system (EPS) is a set of hardware devices software, information networks and organizational structure providing one or more types of payments:

• remote electronic funds transfer;
• payments using plastic cards with a magnetic stripe or smart cards;
• ED payments;
• acceptance or payment of cash from individuals.

Electronic payment systems can be implemented by both government and commercial organizations. Commercial payment systems are organized by individuals or legal entities. With the help of EPS, goods, works, services are paid for, cash is received from credit institutions, money is transferred from the account of one organization or individual to the account of another organization or other individual. The technologies they use allow settlements to be made directly between counterparties. This excludes the transfer of money from one account to another in a bank or other financial institution. Electronic payment systems also include banking and non-banking payment terminals, remote financial services and remote banking services (RBS), including Internet banking and SMS banking, mobile banking, mobile financial services of cellular operators, and electronic money. The payment terminal is intended for:

• accepting payments for services mobile communications, utilities, Internet service providers, payments to repay bank loans;
• replenishment of personal accounts in payment systems, bank card accounts.

Payment terminals are the most popular method of making instant electronic payments. According to J"son of Partners Consulting 0PC), payment terminals occupied more than half of the EPS market in 2012, and in 2013 their volume decreased to 46%. According to JPC, by 2018 the turnover of payment terminals will decrease to 31 %. The structure of payments through non-bank payment terminals will change. The share of payments for mobile communication services will decrease significantly, and the share money transfers will increase.

The legal status of payment systems is established the federal law dated June 27, 2011 No. 161-FZ “On the National Payment System”. According to this law, payment systems must obtain a license from the Central Bank confirming the status of either a non-bank credit organization (NPO) or a bank. First Russian system which has received a license is the CONTACT system. It received number 0001 on August 3, 2012 in the Unified State Register of Payment System Operators. All types of financial services are now accountable to the Central Bank. Many payment systems have brought their structure into compliance with the law. Thus, the WebMoney payment system has an agreement with a partner bank, Yandex.Money and [email protected] are registered as non-profit organizations. The Qiwi system has acquired its own bank. Payment systems serve tens of millions of Russian citizens and control billions of dollars in cash flows.

The first domestic electronic payment systems appeared in 1997-1998. (CyberPlat - 1997, Assist - 1998, WebMoney - 1998). Large payment systems created in recent years include OSMP - 2004, ChronoPay - 2005. It is characteristic of the first domestic payment systems that they were created as Internet gateways (IPG - internet payment gateway) of large banks. For example, the CyberPlat payment system was created as a division of Platina Bank.

The main payment systems currently used for online payments include WebMoney, Qiwi, Yandex.Money, RBK Money, PayPal, Rapida.

The main types of operations performed using EPS. The legality of the activities of commercial EPS follows from the provisions of the Federal Law of December 2, 1990 No. 395-1 “On Banks and Banking Activities”. The main operations performed using EPS include:

• 1) acceptance of cash from individuals for transfer to an individual or legal entity providing services;
• 2) transactions using bank cards and payment cards of issuers other than credit institutions;
• 3) operations using virtual monetary units (digital money);
• 4) electronic transfer of funds from the account of one enterprise to the account of another.

Systems electronic wallets such as QIWI, WebMoney, Yandex-money, etc.

Payment intermediaries accumulating funds such as PayPal or Moneybookers

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Internet electronic payment systems

1. Card payment systems for websites

With electronic currencies everything is much simpler than with bank cards. Since these organizations simultaneously combine the functions of a technical provider for connection, and a “central bank” for themselves, and a supervisory authority, and a legislator for their own money, it is easy to guess that in these conditions the bureaucratic component of connection is minimal. Of course, in Russia, the Federal Law “On the National Payment System” has somewhat increased the requirements for organizations, but in general, connecting to a payment system such as QIWI and WebMoney are the easiest solutions for non-cash payment to integrate. Perhaps the only drawback of these systems is their low popularity, with the possible exception of such a group of buyers as technically advanced youth, which, of course, negatively affects the possibilities of using any electronic wallet as the main payment system for the site.

A special group of organizations that, on the one hand, are electronic wallets, and on the other, work with real-world currencies, are payment intermediaries. If you need a plastic card payment system, but you can’t go through the “compliance” procedure in any bank or you just want to save time, then you can try using systems like PayPal or Moneybookers which, acting on your behalf, will accept money into your account clients, and then transfer them to you. What’s most interesting is that commissions in such organizations can even be equivalent to normal processing. Unfortunately, in these systems there is always a requirement for each end buyer to undergo a registration procedure, which significantly complicates the purchasing process, which can be a fatal flaw in online trading.

Some processing centers working with VISA and MasterCard strive to become universal payment systems. To do this, they integrate with many representatives of all previous groups. Thanks to the fact that they are official distributors of all their counterparties, these “aggregators” provide their clients with “one-stop-shop” services for connecting multiple payment solutions “electronic wallets” and “payment intermediaries” at once.

As a rule, when contacting such an aggregator, a client only needs to fill out a form once and then the aggregator takes over the entire process of working with other systems. At the same time, commissions and other conditions for each separate solution always exactly the same as when working directly with service providers. The identity of the terms with the final provider is prerequisite activities. One example of such an aggregator is our universal payment system Ecommerce Payments.

Dear sirs, as you can see, we have done everything to become the most convenient and profitable way for you to accept payments. We own our own processing center, cooperate with many banks, and have organized a “one-window system” for connecting third-party providers. In addition, since our motto is “Everything for Internet business,” we also provide legal and tax optimization services, as well as various consultations. Thanks to this, we are perhaps the most versatile online payment system in existence. We are always glad to see you, please contact us.

Today we will talk about electronic money And electronic payment systems(EPS) is another very important topic, without understanding and, accordingly, practical application of which it will be difficult to conduct a full-fledged discussion. It is simply necessary to use electronic money in different ways of working and earning money on the Internet, some types of investing, when making transactions, and in other cases, which I will consider on the pages of 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, world wide web Now every day it covers more and more spheres of human activity; accordingly, the need for convenient and fast payments between users, including those located in different countries. This is precisely the 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 all of their circulation occurs exclusively on the Internet. Electronic money can also be in different currencies, they can be exchanged for real money and vice versa (this operation is called input/output 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 it is in very wide circulation, and the scale of its use is constantly growing. Many offline enterprises have already begun to accept the currency of popular electronic payment systems for payment: with its help, for example, you can buy air and train tickets, pay utility bills, and top up accounts mobile operators, pay for the Internet and cable TV, etc.

Different countries may use different definitions of electronic money, stated in legislative acts. Most users of electronic money are attracted by their relative anonymity and the convenience of quickly making 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 operations with their electronic currency. Often electronic payment systems are part of the largest Internet corporations, one of the areas of their activity (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, and 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 is needed, that is, to the extent that EPS users deposit their real money to purchase electronic currency. The issuance of electronic money is usually regulated by legal regulations, so electronic payment systems that are registered and operate in a particular country must adhere to these regulations. However, this often does not actually happen, since electronic money is very difficult to track and legislation in this area remains imperfect.

Electronic payment systems make money from 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 are the “circulatory system” of 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, and some have not gone beyond the borders of their issuer.

Plays a very important role for the future user right choice electronic money systems. Every person needs an electronic payment system that will fully meet 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, operating since 2000. It is a structural division of the American company eBay, which specializes in conducting online auctions. Currently, the PayPal payment system operates in 203 countries around the world, although in some of them it is not possible to use the full functionality of EPS, it operates in 26 world currencies, and the number of its users is approaching 140 million.

In Russia and other CIS countries, PayPal has not yet become widespread, inferior to Russian payment systems, since there are no wide opportunities for replenishment, and especially withdrawal of funds. However, it is gradually developing here too; for example, since September 2013, withdrawal of Russian rubles from the system to accounts in Russian banks has become available, albeit with a fairly large commission. PayPal's main currency is the US dollar.

2. E-gold. A payment system that issues electronic money primarily in gold (based on the number of trinity ounces), as well as in other precious metals. Over the past few years, the e-gold system has become popular among Internet scammers 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. An electronic payment system created in 2007 and operating primarily in euros, dollars and gold. It has also become famous for its use in many HYIPs and financial pyramids, however, it is quite popular in global payments between individuals and business representatives, and is actively used to pay for goods and services on the Internet.

Some other electronic payment systems in the world can be noted: AlertPay, Google Wallet, Moneybookers, Elios Gold, e-Bullion, ePayService, etc.

Electronic payment systems of 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, the activities of WebMoney 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 rights of claim is carried out. The company itself was created in 1998 and declares its activities as “ international system settlements and environment for conducting network business.”

Today, there are about 25 million participants in the WebMoney system, 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), including equivalents of the currencies of the CIS countries, the 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. For payments, Yandex.Money uses the electronic equivalent of the Russian ruble. The system is designed to support Internet business and e-commerce primarily in the Russian Federation, although it is also in small 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.

Among other Russian EPS, one can highlight RBK Money, Unified 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 payment volumes, 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 participant, you will need to register in the system (this must only be done 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 capabilities you need and provide convenient and accessible ways for you to deposit and withdraw money.

The registration procedure is free in most cases. In some cases, online registration on the site will be enough, in others you will need to download and install specific application for work in a specific EPS. Such applications exist for both desktop 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 - ), you must give 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 top up your wallet using 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 must use your real data, otherwise you may have problems with withdrawing funds. In some cases, especially for large transactions, you will need to provide your passport data in scanned form.

All services of electronic payment systems are protected different ways security, but the user must also take care to protect himself from all kinds of scammers, of which there are always plenty on the Internet.

Carefully study the information on the website of the electronic payment system, follow all 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 its loss will negatively affect the state of your personal finances.

This was general introductory information about 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 again!

Hello, dear readers of the blog site. Electronic money is increasingly becoming part of our lives. This is connected primarily, which has now become one of the most necessary attributes of our lives.

Moreover, he has long since crossed the level when we only gained knowledge there. Now we live online - we communicate, buy, sell, pay for services, make friends, etc., etc. It is quite logical that in this environment their own systems of mutual payments arise, allowing them to move away from primitive barter.

On this moment There are already several dozen payment systems in Russia alone, and even more in the world. Of course, not all of them are well known, but the very fact that there is competition gives ordinary users electronic payments (all sorts of goodies to entice), which might not have existed in the absence of a fight for the client.

Of course, it will not be possible to cover all the players in one article (and there is still a wild excitement around them, which I wrote about in a separate publication), but we will definitely consider the most popular ones. At the end of the publication, I will also invite you to vote for the Internet currency that you personally prefer.

Three leading payment systems in Russia

It all started a very long time ago (mainly at the end of the last and beginning of this millennium). At that time, monetary relations began to actively develop on the Internet (e-commerce, etc.) and the only available form of payment was plastic cards. The emergence of Internet money options has made it possible to significantly simplify the process of paying and receiving payments via the network (without leaving home).

But not only on the Internet, because now various electronic wallets offer you to use those lying on them not only for any operations on the Internet, but also in real life. For example, a system linked to an account, with which you can pay for your purchases in real life (supermarket, boutique, gas stations and other places where cards are accepted for payment). In fact, many payment systems already offer similar services.

In Russia you can highlight 3 leading payment systems, but I think it’s unlikely to be possible to put them in their strict places. In each individual case, you will need to choose exactly according to your needs.

For example, Qiwi is truly a “people's” system and everyone who knows what payment terminals are works with it. At the same time, WebMoney is used by almost everyone who makes money in the Russian-speaking part of the RuNet. Both Yandex Money and other electronic wallets have their own audience. But first things first.

Qiwi payment system

If the main complaints about working with Qiwi (and many other systems) relate to the work of their technical support service, then in the WebMoney payment system the main problem is. Personally, I solved this problem for myself, which does not allow me to make a single payment or authorization on sites without confirming this action on my mobile phone (you receive a confirmation code in the form of SMS, or you put special application to the phone to generate it).

Also, the safety and security of this electronic money depends. There are several of them, and I wrote about some of them in some detail at one time:

You also need to understand that there are various Internet currencies that circulate within this system. Currencies, of course, are conditional (in fact, these are just title units), but are strictly tied to the official exchange rate of the real currencies coinciding with them (fiat money).

The main ones, of course, are dollars (WMZ) and rubles (WMR), but euros (WME), hryvnia (WMU), Belarusian rubles (WMB), etc. are also in circulation. In this regard, the need very often arises. Read about the most profitable ways to do this in the article below.

Electronic Yandex Money

Personally, this system attracts me because it can link a plastic card from Yandex to your wallet, so that you can then use it to pay in the store and in all other places where MasterCard is accepted. In this case, the account on the electronic wallet is equal to the balance on the card and no interest is charged for such use (a commission is charged only when withdrawing money from an ATM). In my opinion, this is a very convenient way to withdraw pennies earned on the Internet.

This payment system allows you to deposit and withdraw funds in a variety of ways, as well as pay for many services and goods. There is an application for mobile phone, which allows you to conveniently work with your electronic wallet without having to download a browser. In general, read about that in the article provided.

8 best electronic payment systems in the world

— once upon a time, the Payoneer Mastercard was the only acceptable way to withdraw funds earned by freelancers and stockers abroad. Enough has appeared now similar systems, but Payoneer (or Pioneer) still remains in great demand, because many bourgeois exchanges and sites for making money cooperate only with it.

The main feature of the system is to receive a branded card and withdraw money earned abroad from it through any ATM in the world. Although it is now possible to withdraw money from a Payoneer account directly to an account in a local bank and with a not very high commission percentage, many do not want to show their income to the bank and use the card, because it is not connected to a bank account (prepaid) and there are no problems there should not be any problems with the tax authorities only when using it.

Previously, withdrawing money from Adsense was quite inconvenient, but after connecting to Rapida everything became just fine (though only for residents of Russia). The fact is that in the Rapida system you can configure payment templates for the transit of electronic money from Adsense to any terminal options for cashing them out that are convenient for you. Moreover, the templates are executed automatically when a payment is received from Google’s contextual system.

Liqpay— Ukrainian payment system, the account in which is linked to the account in Privat Bank. It positions itself as an alternative to the world-famous PayPal and Moneybookers, but in reality this is, of course, far from the case. Working with electronic money is quite safe, and read about the rest at the link provided.

10 most popular cryptocurrencies in the world

Cryptocurrency in general is difficult to classify as a payment system, because due to the nature of this system, there cannot be owners or people managing (and even administering) this system. She is launched and she begins to live her own life, essentially not obeying anyone (all thanks to cryptography based on the great and terrible, which simply works wonders). This is its charm and, in a sense, its disadvantage.

It is also difficult to equate crypto-currency with electronic money, because there is not yet a developed network of services and goods that could be bought with crypto-money. Something is possible somewhere, but it is still in its infancy. But at the same time, speaking about electronic money, it is impossible not to plunge into the crypto world. Why?

Because cryptocurrency is an excellent tool for speculation, i.e. fast, often high-risk, but also very high earnings. Someone sells their home, and in a month or two doubles their capital. Some people play “small” and have a stable additional source of income. There is a rush of demand for cryptocurrency and it is becoming more expensive.

Greetings to all my regular readers, investors and guests of my blog! This article opens the “electronic money” section, and to begin with, I suggest you familiarize yourself with the concept of electronic money and find out what electronic payment systems (EPS) are.

I strongly advise you to study this article, because for us, as investors, this topic– this is actually the basis, because investments on the Internet are inextricably linked with electronic money.

In today's article we will discuss the following questions:

Most of us have long been using electronic payment systems when paying for various purchases and services on the Internet. EPS are also used to transfer funds to your friends and relatives around the world.

Payment using electronic money is currently one of the three most “favorite” payment methods. non-cash payments in people aged 12 to 55 years.

So, what is electronic money for?

• Well, firstly, most of us use electronic money when paying for various goods and services on the Internet;
• Secondly, we also use them to transfer funds to our friends, relatives, etc. around the world;
• And, of course, we Internet investors are interested in electronic money as a tool for replenishing and withdrawing funds in online investments.

Electronic money - what is it, when did it appear?

Electronic money is the currency that you and I use when paying or investing on the Internet. With the help of these virtual units, calculations are carried out - usually in real time.

This type of money is becoming increasingly popular, as it makes it possible to make payments between people not only different cities, but also in countries around the world.

In fact, ED can be equated to real money that is stored on our plastic cards or accounts.

Electronic money can be completely freely exchanged for real currency (for example, you can exchange dollars from your Perfect money wallet and withdraw it to a ruble or dollar plastic card at the current rate).

By the way, I recently wrote a detailed comparison of bank plastic cards, with which you can freely withdraw dollars from ATMs around the world: you can read this review

Additionally, I would like to draw your attention: do not confuse electronic money and funds on your plastic card or bank account - these are different concepts.

Payment systems - a brief excursion into the history of electronic money

In general, the term payment systems and electronic money first appeared in the 70s of the twentieth century, and for quite a long time the circulation of such money was very limited. In our time, the range of use has become much greater.

At the moment, for example, the lack of the possibility of paying with electronic money on the website of an online store is already perceived as bad form: after all, with the help of electronic units we can easily purchase a ticket for any type of transport, top up our mobile phone balance, pay for housing, and, of course, invest funds in order to receive passive income!

So, to summarize:

Electronic money –it's fast, reliable and easy to implement financial transactions online, for attachments, maintaining anonymity. The modern financial market is increasingly turning to the attractive conditions of Internet systems.

Electronic payment systems - principles of operation

EPS are companies that introduce their own electronic money into use and invest it in the development of innovative technologies. There are quite a lot of examples on the Internet of large companies that have created their own EPS, for example, Yandex.Money.

ED of one system can be exchanged for the currency of other payment systems at a certain rate with a certain commission for the transfer.

Yes, of course - all EPS that are registered in a certain country are required to comply with the law. However, financial transactions on the Internet are extremely difficult to track, so legislation is not yet strictly regulated.

Moreover, many EPS are officially registered offshore, which means they are not subject to regulation in other countries, which gives them certain advantages for their use.

How do EPS earn money?

The earnings of such systems are based on commissions charged for conducting transactions, exchange operations and other trading relationships between clients. In other words, EPS are the same banks, only on the Internet.

Advantages of using electronic money and electronic payment systems

• Work on conditions of anonymity - the ability to make payments and transfers without specifying personal data;
• Efficiency of transactions for transferring money, paying for services and purchasing goods;
• Low commission for payment: moreover, many EPS do not charge interest for payment at all, such as the ADVCash system;
• The most simplified procedure for creating an electronic invoice;
• High level of protection during operations;
• The ability to transfer funds to a bank account and to plastic cards, as well as instant replenishment of wallets.

Types of EPS

As I mentioned earlier, all EPS issue their own currency. Some of them are recognized throughout the world, while others operate only within a few countries.

That is why, before choosing a particular system, you need to clearly determine for what needs it will be used. Of course, no one limits you to one system: I personally have wallets open in most payment systems, and I actively use them.

Let's briefly go over the most popular systems(I have listed them in my priority order):

Perfect Money.

The undoubted leader of this review. I personally use it to participate in many investment projects.

The year of foundation of this system is 2007. Perfect Money is often used for financial transactions by both individuals and legal entities. This payment method is accepted in 99% of investment projects, which makes it very popular in the investment environment.

Perfect Money Finance Corp received an offshore license (Panama), so it is almost impossible to influence it in any way. More detailed review and how to create a wallet in this system is posted on my blog on this >>>

AdvCash.

The second most popular EPS for me personally.The system is relatively young, and its active development began only in 2014.

Initially, many investment projects did not use it as an opportunity to invest funds, but more and more often I see the opportunity to invest through this payment aggregator.

Moreover, the AdvCash service is constantly developing, and it is planned to release special program for IOS and Android. A huge advantage of this system is the ability to release bank card MasterCard, with which you can pay for purchases and withdraw cash in dollars in more than 200 countries around the world, including the CIS countries.

I also wrote a detailed article on this system, I recommend you read it.

Payeer.

It is also quite popular among investors online.This payment service started working back in 2012 and quickly gained popularity on the Internet among brokerage companies and electronic stores.

The company began active expansion online, including in the US and Europe, and as a result, the number of users is already more than 15 million.

The advantage of this system is the absence of mandatory identification, the presence of your own exchange points, and the ability to issue your own bank card, similar to AdvCash.

But I want to note that the commissions in Payeer are less humane than in AdvCash. You can learn more about the advantages and disadvantages of this system in my review on this >>>

OkPay.

Also a popular EPS, which is in demand among investors and is recognized by many investment projects. It was launched in 2009 (the system was registered in the British Virgin Islands). OkPay is also used for payments by both individuals and legal entities and is recognized in more than 200 countries around the world.

The system is easy to use, moreover, it was the first system among offshore wallets that offered its clients the issuance of a bank card. Personally, I actively used it before, despite the increased commission, but for a long time it was the only alternative for withdrawing dollars from an ATM.

But with the advent of AdvCash, I began to use this system less actively, although I periodically invest through it. I also wrote a review on OkPay, I recommend you read it >>>

PayPal.

It has been operating since March 2000 and is part of the structure of the Ebay company, through which goods are purchased online (online stores, individuals). The PayPal system is recognized in most countries of the world, although in some of them there are restrictions. This system is used by more than 140 million users; it allows transactions with 26 currencies.

In the CIS countries, this EPS is not very common, but development is still underway: since 2013, it has become possible to withdraw rubles to bank accounts and cards, albeit with a high commission.

I am registered in this system, but I use it exclusively for purchases on Ebay. If you plan to invest online, this system is not suitable for this in principle, so you don’t have to waste time registering.

WebMoney (WebMoney).

This EPS occupies a leading position both in the Russian Federation and in the CIS. From a legal point of view, WebMoney Transfer is not a payment system, because it does not issue electronic documents. However, this does not change the essence - this payment system is actively used by users, the number of which is more than 25 million. WebMoney was founded even earlier than PayPal - in 1998.

Some investment projects include this system to accepting payments, however, it is worth noting that in case of complaints about unfair work, the system quickly responds and blocks the user’s wallet. Competitors take advantage of this to block payments from investment projects, which leads to panic and negative reviews (the project does not pay, etc.) and early closure of the investment project.

I use it extremely rarely and only out of urgent necessity: I am personally irritated by the high percentage of commissions for transactions, as well as extortionate interest rates when withdrawing funds.

Yandex money

The second most popular EPS within the Russian Federation. The system was launched in 2002 and is part of the Yandex company structure. Transactions are carried out in ruble equivalent. Mainly used in the Russian Federation.

The system was created in collaboration with a foreign partner PayCash: as a result of this cooperation, Yandex Money LLC appeared.

In this system, I also have a wallet, but I try to use it to a minimum. The reasons are the same as WebMoney: extortionate commissions for transfers and withdrawals of funds. I rarely see this system in investment projects, apparently for the same reason as the situation with WebMoney - account blocking.

It is possible to order a bank card, but reviews on the Internet about its use are quite contradictory. I haven’t ordered one for myself, so I can’t express my opinion about using this card. Whether to use this system or not is up to you personally.

Qiwi.

Another popular EPS, launched in 2007. It operates in the following countries: Russia, Belarus, Moldova, Kazakhstan, America and a number of other countries.

The advantage of this system is a large number of machines through which you can top up your balance and transfer funds.

I have a wallet in this system, but a couple of years ago I was blocked from withdrawing funds. I never heard a clear explanation from support, and the blocking was eventually lifted, but an unpleasant aftertaste remained. Another disadvantage is the high interest rates when withdrawing funds from this wallet.

Finally

Before registering in a particular system, first decide for what purpose you plan to use it. If your goal is, then I recommend Perfect Money, AdvCash, Payeer and OkPay: after registration you will need to top up your wallet usingexchange offices (BestChange), and then move on to investing on the Internet.

When registering with EPS, I strongly recommend that you provide your real data, because:

• firstly, in most systems you simply cannot withdraw money without this;
• secondly, this will be proof that the wallet belongs to you - if attackers steal your password and hack the wallet.

I hope I was able to convey to you in as much detail as possible information about what electronic payment systems are and how to use them.

You also have the opportunity to find out where I invest my money: investment projects are presented in my portfolio using the links below: