The development of e-commerce and Internet earnings has led to the rapid development of electronic payment systems (EPS), which offer every user of the World Wide Web to use electronic money for various purposes.

At the moment, there are already several dozen payment systems in Russia alone, and even more in the world. Of course, not all of them are heard. Of course, it will not be possible to cover all the EPS, but we will consider the most popular ones.

Payment systems of Russia

In Russia, there are several leading payment systems. In each individual case, you 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.
Yandex Money and other electronic wallets have their own audience.

You can withdraw electronic money from Qiwi in different ways (through instant payment systems, to bank details or to payment cards), but in most of them you will be charged a certain percentage (commission).
But there is still a way to withdraw funds interest-free and quite convenient - order a QIWI Visa Plastic card from them, with which you can pay for purchases both on the Internet and in regular stores, and no commission will be charged for this.

These electronic money do not have such popularity outside the Internet (like Qiwi). Not so many users pay for communal services, but the bulk of the money earned in RuNet is received and withdrawn from this Internet payment system.

This system is attractive because you can link a plastic card to your wallet, so that you can then use it to pay in stores 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).
A very convenient way to withdraw your earnings on the Internet.

The main purpose of electronic money from mail.ru is to make online payments, for which the tariffs have been optimized - you will not be charged interest for entering and paying for goods in online stores. But for internal transfers, and even more so for withdrawals, a commission is provided (withdrawing money in real life through Mail.ru is generally not very profitable, compared to other payment systems).

In general, they are ideal for those who use them to pay for games on Mail.ru or any other services, and also receive transfers within the system.

More recently, Money Mail.ru was swallowed up by the insatiable QIWI.

International payment systems

PayPal is fiat electronic money, unlike many other payment systems. The purpose of creating this system was to ensure the security of payments from a card linked to an account. In this case, you do not need to fill out your card details, and also receive some guarantee from the system regarding the delivery of goods paid for via Paypal.

If the product was not delivered or it turned out to be of poor quality, then there is a very real possibility of returning the money by opening a dispute (within a month and a half after payment). Read more about how on our website.

This system also has its drawbacks, of course. In my opinion, there are very high interest rates for replenishing a wallet (compared to the usual RuNet payment giants), but in many cases it is still more profitable than using some other payment systems or schemes for withdrawing money from the Internet.
Read how to start one on our website.

Verification in the system is not required and you can completely receive, deposit and withdraw money from Perfect Money anonymously. But... If the system suspects that you are committing fraudulent actions, your wallet may be blocked.

Read more about it on our website.

OKPay, like Payeer or Perfect Money, allows operations to withdraw money from “pyramid schemes” or gambling. True, the limit on payments passing through an unverified account (without confirming your identity) is limited. Just like in Perfect Money, here you are paid as much as 3% for finding money in your account, which is a little unusual for electronic wallets.

The main application of Payza in Russia and RuNet may be to receive Internet money earned abroad, withdraw it or transfer it to another user of this system.

Read how to start one on our website.

You will learn the names of electronic money, which are most popular in Russia, how and where you can buy such means of payment, and what are the features of cashing them out.

Good afternoon, dear readers! With you is Denis Kuderin, editor-in-chief and part-time expert of HeatherBober magazine on financial topics.

I work remotely and receive my salary via the Internet, namely through online banking and through electronic payment systems (EPS). I have accounts in at least 5 of these services, and I use them more or less regularly. Electronic money is convenient, fast and reliable, provided that you use it wisely.

I will tell you what the pros and cons of electronic money are, how to manage them correctly, which wallets are preferable for domestic and which for international payments.

You will learn how profitable it is to cash out digital money, where the lowest commission is, and why you cannot put an equal sign between WMR and rubles.

1. What is electronic money and how did it appear?

It is useful to know about electronic money for everyone who intends to use or already uses money payments on the Internet. If you want to pay for the services of a provider, throw money at your phone, buy a bike in an online store, get paid for the work done by a designer, author, translator, payment systems will become your reliable assistant.

EPS has only one alternative - Internet banking. But not all service providers, customers and employers support financial settlements through a bank. For some it is expensive, for others it is unprofitable, and for others it is inconvenient. EDs provide additional freedom of action in this regard.

What is electronic money (ED) from a legal point of view? This is a kind of obligation assumed by the issuing organization. They represent the equivalent of real money stored on an online resource. This is part of the virtual financial market.

What is the level of reliability of cashless systems in comparison with banks? It will be difficult for a non-specialist to compare the degree of vulnerability of a personal Internet account in a bank and an account in an EPS.

The developers assure that your funds will be kept equally secure both in the bank and in virtual wallets. But a bank is still a bank, that is, a place, by definition, intended for storing money. And EPS is primarily a service for virtual payments and only then storage.

Hence the conclusion: storing large sums on electronic wallets is not the wisest step. Keep funds here for operating expenses and everyday payments. It's better to keep the rest in a bank account.

Historical information:

The need for remote electronic payments appeared almost immediately after the widespread spread of the Internet. The first full-fledged EPS appeared in 1997. In Russia it was a platform called CyberPlat, which allowed instant payments through secure channels.

The first online payment in the Russian Federation was carried out in 1998. In the same year, the WebMoney platform, which is still successfully operating today, went into operation. The date of the first transaction was November 1998. Now WebMoney Transfer has more than 36 million users around the world.

The legal regulation of the status of ED is regulated by the Federal Law on PS of 2016.

ED is the equivalent of real monetary units. They perform the same function as regular money and are legally taxed. Some services even issue plastic cards that have the same capabilities as traditional bank plastic.

Personally, I have a YandexMoney plastic card, which I use to successfully pay in supermarkets, coffee shops, cinemas and wherever there are acquiring machines.

The only disadvantage of this card is the 3% commission for cash withdrawals. But some banking products also require interest on withdrawals, so this is a relative minus.

Let's list the main advantages of ED:

1. Convenience– most payments and transfers are made in one click.
2. Reliability– if necessary, you set up confirmation of transactions via SMS: no one except you will know the code to carry out the operation.
3. Durability– money is stored in your wallet as long as you need it.
4. Liquidity– transfer virtual funds into real ones at any time.
5. Anonymity– if desired, the recipient and sender remain unknown.
6. Safety– all EPS use modern algorithms for protecting funds and transactions.
7. 24/7 service– services are automatic and work seven days a week.
8. Versatility– almost all banks, online stores and service sites accept electronic payments.
9. Anti-counterfeit protection– they will not transfer you a counterfeit bill electronically.
10. Portability and comfort when using.

Among the disadvantages of virtual coins are the presence of a commission for some operations, the risk of account hacking by attackers, and loss of access to the wallet if the authorization data is lost.

The last drawback can be easily eliminated if you go through full identification. For example, in YaD, for this you need to come to the organization’s office (or to the Euroset salon) with a passport and pay 50 rubles. After this, it will be easier to restore access if you lose your password and code word.

To use EPS, a person only needs access to the network, an ATM or a card issued by a payment system. But I have to warn you that not all countries accept electronic payments. When traveling abroad, it is wiser to use the international EPS Visa and MasterCard.

2. Ways to use electronic currency

The main area of ​​application of ED is settlements between users (individuals, companies, public organizations).

Payments are made instantly thanks to modern digital technologies. This distinguishes EPS from transactions with bank accounts, which are often delayed for several hours or even days.

Let's consider all the ways to use virtual money.

Method 1. Internet payments

This is the main use case – payments on the Internet for goods, services, work performed. Money from an electronic account is sent to other wallets, bank cards, accounts of organizations and individuals.

Payments are available around the clock. Pay when it’s convenient for you for purchases, housing and communal services, Internet providers, cellular operators, government services, traffic police fines, etc. All transactions are tracked and saved in the transaction history.

If required, you will receive a check by mail with details and payment date. Print it out and use it as proof of payment.

Method 2. ATMs

Terminals and ATMs are another popular tool for using digital money.

Using hardware, they top up accounts, pay for purchases, and receive cash.

Method 3. Credit cards

Some systems allow you to pay with credit funds when paying for purchases in stores, supermarkets, hotels and other places.

In addition, you have the right to pay off expenses from credit cards using electronic money.

Method 4. Bank checks

You transfer ED to a bank account, then withdraw funds from a bank or ATM.

Another option is to send electronic money using international EPS, the recipient receives the transfer at the bank. The method is not the fastest, but sometimes it is the only possible one.

3. What types of money are there on the Internet?

I have used all three EPS presented below and can reliably indicate the advantages and disadvantages of each service.

I would like to warn you in advance that these electronic documents are beneficial to use only for internal payments in the Russian Federation and neighboring countries. Make transactions with Europe, the USA and other countries through other services.

1) WebMoney

The oldest PS in Runet. It is noteworthy that it is used not only in the Russian Federation and neighboring countries, but also in some Western European countries.

WebMoney has several types of currencies:

• WMR – account in rubles;
• WMU – in hryvnias;
• WMZ – in dollars;
• WMB – in Belarusian rubles;
• WMX – in bitcoins.

There are even accounts in litecoins and gold. WebMoney bills are paid through the Keeper website or client, as well as through banks, exchange offices and other payment services.

The disadvantages are the same as those of other EPS: commissions, difficulties with transferring to cash. So, in Kazakhstan, in order to cash out WMR, you need to pay a commission to exchange offices from 10 to 30%.

Among the shortcomings that affected me personally is the complex and lengthy identification process. There are many steps and procedures required to obtain a personal certificate. Not everyone has the desire or time for such manipulations.

Another point is the difficulty of transferring Keeper (the client for working in the system) to another computer and recovering the password if it is lost.

Many also remember the situation with vague sanctions by companies several years ago - withdrawal of money from any WM accounts was unavailable for a long time. It was necessary to use complex withdrawal schemes from the account, with a loss of 5 to 10% of funds.

2) Yandex.Money

In the Russian Federation, this is perhaps the most popular platform for online transactions.

Three types of wallets are available to users:

• anonymous;
• nominal;
• identified.

They differ in the amounts that are allowed to be stored in the account, limits on payments and cash withdrawals.

When cashing out funds or transferring to a bank card, you will be charged a 3% commission.

3) Qiwi

A convenient and modern payment system with many terminals throughout Russia and wide possibilities. Your Qiwi account is linked to your phone number: to log in, you only need your number and password.

The service is convenient for those who are not particularly comfortable with the Internet, but use a telephone and terminals.

In addition to the above, I would like to draw your attention to the PayPal system - if you pay for purchases in foreign online stores or auction sites (for example, on AliExpress or EBay), then this service is ideal.

Service comparison table:

4. How and where you can buy electronic money

The easiest way to buy electronic money is where it is most often used, namely on the Internet. To purchase virtual money, you need to register on the website of the system of your choice and create a virtual wallet.

There are several replenishment options:

1. From a bank card.
2. In cash - through banks, salons of partner companies (for YandexMoney and Qiwi these are: Euroset, Svyaznoy, Megafon).
3. From a mobile phone account.
4. Through ATMs.
5. From wallets of other payment systems.
6. Through translation services – Unistream, Contact.
7. Through Russian Post and Rostelecom.

Find out how to purchase ED on the websites of payment companies and from telephone consultants.

Personally, I rarely use such an option as “Replenishment” for the reason that the inverse function – “Withdrawal” – is more relevant for me. But my friends assure that the most popular replenishment option is payment terminals. Transferring from a card is faster, but for this the system charges a commission of around 0.8-1%.

5. Features of cashing out

The main feature in this matter is obvious: 100 virtual rubles are not 100 real ones. That is, WMR is not the equivalent of RUR. This is a couple or three percent less. Different systems charge different commissions, and much depends on the method of cashing out.

Not all types of wallets and certificates provide cash withdrawal. For example, in WebMoney, cash withdrawal is available only to authenticated users. And the process itself is not available in all cities of the Russian Federation, but only in those where there is a WebMoney office.

It is much easier to withdraw money to a bank card and then cash it out at an ATM. Or get an EPS card and also cash it out at an ATM. It's quick and easy, but you will lose a certain amount - that's what payment companies make money on.

I rarely withdraw cash from my YandexMoney card, but as an experiment I did it at the nearest Sberbank ATM. I lost 3% from 1000 rubles, but now I can say with confidence that the withdrawal works.

It is much more expedient to use this card to pay for goods directly, by bank transfer. In this case, no interest is charged - neither in supermarkets nor in online stores.

As for the lowest commission for cashing out, users' opinions are divided. Some believe that WebMoney is more profitable, others believe that, taking into account all the extra charges, this system removes more than Poison.

I have practiced both output schemes. At the time of writing, the Yandex service is more convenient and slightly cheaper in this regard.

Watch a video on comparing virtual wallets:

6. Conclusion

Electronic money is convenient, fast and safe. The user is required to choose the right service according to his needs and follow the rules established in the system.

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

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

Electronic money (or in other words, virtual money) cannot be touched or put in a wallet, but it has the same value as physical money. And this is not surprising, because... In order for you to have electronic money on the Internet, you need to add real banknotes there to exchange for an electronic equivalent or receive them from someone by transfer, who in turn also deposited real banknotes, i.e. Electronic money on the Internet does not appear out of nowhere like in a fairy tale.

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

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

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

• goods and their delivery in online stores;
• mobile communications;
• buy tickets;
• book hotel rooms;
• pay for housing and communal services;
• pay fines.

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

History of electronic money

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

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

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

1. Yandex money.
2. Qiwi.
3. Webmoney

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

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

To create electronic money you must complete the following steps:

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

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

Advantages of electronic money

The main advantages of electronic money are:

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

Disadvantages of electronic money

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

1. Commission when withdrawing funds from your wallet to your bank account or card.
2. Commission for withdrawing electronic money from a payment system card.
3. If you lose your password, you lose access to your wallet, which will be difficult to recover.
4. It is possible that the wallet could be hacked by attackers and therefore lose money.

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

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

Main characteristics of electronic money:

the monetary value is recorded on an electronic device;

it can be used for a variety of payments;

payment is final.

Nevertheless, the issue of independently identifying electronic money as a separate type remains debatable, as does their definition, role in payment system and functions.

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

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

Calculations on the Internet. "Network" electronic money

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

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

electronic transfers between user accounts;

buy, sell and exchange electronic currencies:

pay for services (Internet access, cellular communications, hosting, apartment, etc.);

transfer funds to a credit or debit card.

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

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

WMZ - dollar wallets;

WMR - ruble wallets;

WME - wallets for storing euros;

WMU - wallets for storing Ukrainian hryvnia.

The WebMoney Transfer payment system allows you to:

carry out financial transactions and pay for goods (services) on the Internet;

pay for the services of mobile operators, Internet and television providers, pay for subscriptions to the media;

exchange WebMoney title units for other electronic currencies at a favorable rate;

make payments by email, use your mobile phone as a wallet;

owners of online stores accept payments for goods on their website.

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

There are several ways to replenish your WM wallet:

by bank transfer (including through Sberbank of the Russian Federation);

postal transfer;

using the Western Union system;

by exchanging rubles or currency for WM at an authorized bank or exchange office;

by receiving WM from any of the system participants in exchange for services, goods or in exchange for cash;

using a prepaid WM card;

through the E-Gold system.

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

Main features of the RUpay payment system:

making electronic transfers between user accounts;

buy, sell and exchange electronic currencies with a minimum commission;

make payments to other electronic payment systems: WebMoney, PayPal, E-gold, etc.;

accept payments on your website in more than 20 ways;

receive funds from the system account at the nearest ATM;

manage your account from any computer connected to the Internet."

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

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

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

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

internationality - regardless of place of residence, any user has the opportunity to open an account in e-gold:

anonymity - when opening an account, there are no mandatory requirements for indicating the user’s real personal data;

ease and intuitiveness - the interface is intuitive and user-friendly;

no additional software installation required;

versatility - the widespread use of this payment system allows it to be used for almost any financial transaction.

You can enter money into the system in two ways: receive a transfer from another participant or transfer money in any currency to the E-gold system using the mechanism described on the website via bank transfer.

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

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

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

send payments (Send Money): transfer any amount from your personal account. In this case, the recipient of the payment can be either another PayPal user or an outsider;

execute a request to receive payment (Money Request). Using this type of service, the user can send letters to his debtors containing a request for payment (issue an invoice for payment);

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

use auction trading tools (Auction Tools). The payment system offers two types of services: 1) automatic distribution of requests to receive payment (Automatic Payment Request); 2) auction winners can make payments directly from the website where the auction is held (Instant Purchase for Auctions);

carry out financial transactions using a mobile phone (Mobile Payments);

make simultaneous payments to a large number of users (Batch Pay);

carry out daily transfer of funds to a bank account (Auto-Sweep).

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

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

installation of additional software is not required for operation;

The Moneybookers user account number is the email address;

the minimum transfer amount to Moneybookers is 1 euro cent (or the equivalent in another currency);

the ability to automatically send funds on a schedule without user participation;

the system commission is 1% of the payment amount and is deducted from the sender.

1.Digital money. Concept of electronic money Digital (hereinafter referred to as electronic) money completely simulates real money. At the same time, the issuing organization - the issuer - issues their electronic analogues, called differently in different systems (for example, coupons). Next, they are purchased by users, who use them to pay for purchases, and then the seller redeems them from the issuer. When issued, each monetary unit is certified by an electronic seal, which is verified by the issuing structure before redemption. One of the features of physical money is its anonymity, that is, it does not indicate who used it and when. Some systems, by analogy, allow the buyer to receive electronic cash in such a way that the connection between him and the money cannot be determined. This is done using a blind signature scheme. It is also worth noting that when using electronic money, there is no need for authentication, since the system is based on the release of money into circulation before its use. Below is the payment scheme using digital money. The buyer exchanges real money for electronic money in advance. The client can store cash in two ways, which is determined by the system used: On the computer’s hard drive. On smart cards. Different systems offer different exchange schemes. Some open special accounts to which funds from the buyer’s account are transferred in exchange for electronic bills. Some banks may issue electronic cash themselves. Moreover, it is issued only at the request of the client, followed by its transfer to the computer or card of this client and the withdrawal of the cash equivalent from his account. When implementing a blind signature, the buyer himself creates electronic bills, sends them to the bank, where, when real money arrives in the account, they are certified by a seal and sent back to the client. Along with the convenience of such storage, it also has disadvantages. Damage to a disk or smart card results in irreparable loss of electronic money. The buyer transfers electronic money for the purchase to the seller’s server. The money is presented to the issuer, who verifies its authenticity. If the electronic bills are genuine, the seller’s account is increased by the purchase amount, and the goods or service are provided to the buyer.
One of the important distinguishing features of electronic money is the ability to make micropayments. This is due to the fact that the denomination of the banknotes may not correspond to real coins (for example, 37 kopecks). Both banks and non-banking organizations can issue electronic cash. However, a unified system for converting different types of electronic money has not yet been developed. Therefore, only the issuers themselves can redeem the electronic cash they issued. In addition, the use of such money from non-financial structures is not guaranteed by the state. However, the low transaction cost makes electronic cash an attractive tool for online payments. Credit systems Internet credit systems are analogues of conventional systems that work with credit cards. The difference is that all transactions are conducted over the Internet, and as a result, the need for additional security and authentication measures. The general payment scheme in such a system is shown in the figure. The following are involved in making payments via the Internet using credit cards: Buyer. A client with a computer with a Web browser and Internet access. Issuing bank. The buyer's bank account is located here. The issuing bank issues cards and is the guarantor of the client’s financial obligations. Sellers. Sellers are understood as E-Commerce servers where catalogs of goods and services are maintained and customer purchase orders are accepted. Acquiring banks. Banks serving sellers. Each seller has a single bank in which he keeps his current account. Internet payment system. Electronic components that act as intermediaries between other participants. Traditional payment system. A set of financial and technological means for servicing cards of this type. Among the main tasks solved by the payment system is ensuring the use of cards as a means of payment for goods and services, using banking services, conducting mutual offsets, etc. Participants in the payment system are individuals and legal entities united through the use of credit cards. Payment system processing center. An organization that provides information and technological interaction between participants in the traditional payment system. Settlement bank of the payment system. A credit organization that carries out mutual settlements between payment system participants on behalf of the processing center.
The buyer in the electronic store creates a basket of goods and selects the payment method “credit card”. Next, the credit card parameters (number, owner's name, expiration date) must be transferred to the Internet payment system for further authorization. This can be done in two ways: through the store, that is, the card parameters are entered directly on the store’s website, after which they are transferred to the Internet payment system (2a); on the payment system server (2b). The advantages of the second way are obvious. In this case, information about the cards does not remain in the store, and, accordingly, the risk of receiving them by third parties or being deceived by the seller is reduced. In both cases, when transferring credit card details, there is still a possibility of them being intercepted by attackers on the network. To prevent this, data is encrypted during transmission. Encryption, naturally, reduces the possibility of data interception on the network, so it is advisable to carry out communications between buyer/seller, seller/Internet payment system, buyer/Internet payment system using secure protocols. The most common of them today is the SSL (Secure Sockets Layer) protocol. It is based on an asymmetric public key encryption scheme, and the RSA algorithm is used as the encryption scheme. Due to the technical and licensing features of this algorithm, it is considered less reliable, so the SET (Secure Electronic Transaction) standard for secure electronic transactions is now being gradually introduced, designed to eventually replace SSL when processing transactions related to payments for credit card purchases on the Internet. Among the advantages of the new standard are increased security, including the ability to authenticate all participants in transactions. Its disadvantages are technological difficulties and high cost. The Internet payment system transmits the authorization request to the traditional payment system. The next step depends on whether the issuing bank maintains an online database of accounts. If there is a database, the processing center sends the issuing bank a request for card authorization (4b) and then (4a) receives its result. If there is no such database, then the processing center itself stores information about the status of cardholders’ accounts, stop lists and fulfills authorization requests. This information is regularly updated by the issuing banks. The authorization result is transmitted to the Internet payment system. The store receives the authorization result. The buyer receives the authorization result through the store (7a) or directly from the Internet payment system (7b). If the authorization result is positive, the store provides the service or ships the product (8a); the processing center transmits information about the completed transaction to the settlement bank (8b). Money from the buyer's account with the issuing bank is transferred through the settlement bank to the store's account with the acquiring bank. In most cases, special software is required to make such payments. It can be supplied to the buyer (called an electronic wallet), the seller and his servicing bank. For example, consider the WebMoney Transfer electronic payment system.

4. Popularity of digital money. Development prospects According to some analysts, electronic payment methods will soon completely replace cash and checks from the market, since they represent a more convenient way to pay for goods and services. According to ABA/Dove estimates, electronic payments may soon replace cash and checks, since today every second purchase in a store is made using electronic means of payment. Cash remains the main means of payment in traditional stores for only 33% of shoppers. While the majority of online purchases are made with credit cards, nearly half of respondents use checks and money orders for e-commerce, and a quarter of virtual shoppers use P2P payments. Two-thirds of consumers pay at least one monthly bill electronically, including credit/debit cards, direct payments, or online banking. Analysts believe that online bill payment will reach significant volumes by 2003 as the majority of users begin to use or increase their use of this payment option. At the same time, the use of “paper” payments will be significantly reduced - 21% of respondents said that they intend to stop paying their bills by check. At the same time, Yankee Group analysts note that 8.7% of American consumers now pay their bills online, up from 5.1% last year. Marketing efforts are starting to pay off: 29% of consumers have already expressed interest in using electronic bill payment systems (EBPP), and 14.9% cite time savings as a primary motivator. However, experts warn that banks will face competition from financial service providers in this area, given that a provider that provides users with a convenient and simple interface will be able to retain them for a long time. Growth in “Business to consumer” e-commerce turnover in Russia, million dollars (according to The Economist, Boston Consulting Group):
Growth of e-commerce in the “Business to consumer” sector, billion dollars (according to eMarketer):
Share of e-commerce in US GDP (GDP) (according to eMarketer):

Active Internet audience in Russia according to ROCIT, million people:
Since their formation on the Russian market, exchanges and trading platforms have been using modern technologies, creating systems that are unique in their characteristics almost from scratch, trying to cover the entire market, all regions of the Russian Federation. Developing in line with advanced global trends, organized e-commerce is becoming increasingly attractive in the global market. Prerequisites have emerged for the rapprochement and connection of trading platforms both within Russia and abroad. Today, information technologies determine the face of the global financial market. World financial markets are becoming increasingly global, and Russia is moving in line with this process. The challenge of the time is the internationalization of the world economy, which today acts as a globally integrated economic system. Our country is about to take an important step - to join the World Trade Organization (WTO). A necessary condition for joining the WTO is Russia's integration into the international financial market. Therefore, speaking about the prospects for the development of the Russian market, one of the main stages can be identified as integration into the infrastructure of the world capital market. This work has already begun. Electronic technologies are developing rapidly. Today it is difficult to imagine our life without the Internet. Over the past few years, the popularity of trading company shares via the Internet has grown rapidly around the world. Individual investors have the opportunity to enter into transactions essentially without leaving home. In 1999, the development of Internet trading on the Russian stock market began. The total volume of transactions via the Internet on the Russian market is constantly growing, and according to some estimates, already in 2001 it amounted to about 40% of the total turnover of the stock market. For example, in December 2001, already about 47% of trading volume and about 70% of transactions on the MICEX stock market were concluded via the Internet. Trading via the Internet is today the easiest and most convenient access for private investors in the financial markets. With the spread of Internet trading, the number of small-volume transactions began to increase. In other words, client activity in the stock market and the share of client transactions in total turnover are growing at a faster pace. It is interesting to note that the leaders in the introduction and promotion of Internet trading on the Russian stock market were not large, but dynamic brokerage companies, which are now consistently among the top ten market participants in terms of turnover. At the same time, large brokerage companies and banks began to develop the new service much later. Today's realities are such that it is not the “big” company that wins, but the “fast” company. Having started on the stock market for a number of reasons, Internet trading is now confidently developing in other sectors of the financial market: government securities; currency; urgent. In the future, the development of Internet trading will be determined by the following main trends. First of all, both the range of markets and traded instruments offered within the framework of Internet trading systems, as well as the service offered and the range of additional services for clients based on their full automation, will expand. We will see a closer interconnection within the framework of one Internet system of the functions of banking systems, Internet trading and depository and back-office service systems. In addition, the process of expanding analytical and information support for clients based on integration with information and analytical Internet systems developed by information agencies will continue more actively. Given the low level of development of telecommunication networks, especially in the regions of Russia, of course, one of the priority areas of development will be improving the quality of work and improving the consumer properties of Internet trading systems. The solution to this problem lies not only in the area of ​​improving the applied hardware and software of Internet trading systems, but also in the area of ​​creating new generation systems that can significantly expand the technological capabilities of customer service and improve the quality of their work. A very important factor influencing the development of Internet business in financial markets in the very near future, with the advent of the appropriate regulatory framework, will undoubtedly be the need for the mandatory use of certified information security software and electronic digital signatures in remote access systems via the Internet. On January 10, 2002, President of the Russian Federation V.V. Putin signed the Federal Law “On Electronic Digital Signature”, aimed at ensuring legal conditions for the use of electronic digital signatures in electronic documents, subject to which an electronic digital signature in an electronic document is recognized as equivalent to a handwritten signature in a document on on paper. With the advent of Internet technologies, a real need arose to connect the disparate technological links of the customer service process into a single chain. Investors can now use automated systems to monitor the entire investment process and manage their assets in real time. This approach requires constant modernization of software products and all systems for various functional purposes with the possibility of their information interconnection in real time or their integration into single multifunctional software and hardware complexes. Conclusion A superficial analysis of Internet technologies for business, an integral part of which are online payment systems, allows us to draw the following conclusions: 1. Issuers of digital money are systems that organize Internet transactions. 2. Systems for issuing digital money are of at least two types: those that issue electronic cash immediately upon receipt of real money in the bank account of the system and those that issue only when and for the period of payment. 3. Digital money is money issued backed by real money. 4. The turnover rate of digital money is the highest today. 5. Traditional credit and debit cards issued by banks for remote account access are not digital money as such. Even if the open card account is multi-currency, it is not directly related to digital money, since it is opened in any base currency. And its multi-currency nature is expressed in the fact that when paying with a plastic card, it is possible to instantly convert the base currency into the payment currency. 6. Non-cash money also cannot be directly called digital money, despite the fact that its medium is electronic. Since their analogue exists in cash form. 7. Digital money allows you to make micropayments and, when a sufficient amount is accumulated, convert them into real money.

List of information sources: 1. Official website of the WebMoney Transfer payment system – http://www.webmoney.ru 2. Official website of the analytical agency RosBusinessConsulting – http://www.rbc.ru 3. Internet resource – http://www.i2r.ru 4 . Website of the PayWell payment system - http://www.paywell.ru 5. “Banks and banking systems” member of the International Academy of Informatization, member of the scientific and expert council of the Committee on Economic Policy and Entrepreneurship of the State Duma of the Russian Federation V. Yurovitsky - http://www.yur.ru 6. Ozone online store - http://www.ozone.ru 7. “Where does the money go” member of the International Academy of Informatization member of the scientific expert council of the Committee on Economic Policy and entrepreneurship of the State Duma of the Russian Federation V. Yurovitsky - http://www.yur.ru 8. Information site "Electronic money. Payment systems on the Internet" - http://www.pay-system.info 9. Official information site "Business Technologies on the Internet", 1997-2006, Internet Payment Systems Group - "Internet Payment Systems" - http://emoney.ru/menu.asp 10. Official information site "Business", - section: Business from and to. - 2008, http://business.rin.ru

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Electronic money is a virtual currency that is equivalent to regular cash or non-cash funds and does not require opening a bank account.

In fact, this is money, the circulation of which occurs not in the form of paper bills, but through the introduction of computer technology and a modern communication system into the sphere of financial settlements.

At first glance, electronic money looks like non-cash payments, but this is not entirely true. Non-cash funds were originally familiar monetary units that a person, for example, deposited in a bank account. After which they turned into his working capital within the banking system.

Electronic money is initially a form of money whose storage is the Internet. They can be used by a person to pay for goods on the Internet or withdrawn to a bank card for cash withdrawal or non-cash payments. One electronic monetary unit is equal to a fiat monetary amount.

Flaws

Now the fly in the ointment.

• Not everywhere you can pay with this currency.
• There is usually a fee for transfers to wallets of other systems.
• Internet addiction: no Internet - you can’t use it.
• Electronic currency is not regulated by the government.
• Limitation on the size of transfers, cash withdrawals, etc.

Now the issue of using electronic money is relevant. Business is increasingly conducted via the Internet, and you can’t live without such currency.

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