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2010 Operating Report

  1. Financial Performance
  2. Technological base
  3. Payment acceptance network
  4. Client base
  5. Providers
  6. Money transfers
  7. Terminal business
  8. Technilogical and financial innovations
  9. Administrative and financial management
  10. Regional development

Financial Performance

In 2010, the total turnover of the CyberPlat® payment system comprised about $5.5 billion. CyberPlat® collects almost 25% of the entire revenue of the major cellular communication operators in Russia. It is the leading partner of Beeline, MTS and MegaFon by the volume of accepted subscriber payments.

According to statistics as of December, 2010, 78.8% of turnover of CyberPlat® falls within the payments accepted from the subscribers of mobile network operators, 3.7% - from Internet and IP-telephony users, 3.5% are payments for housing and public utilities, 1.6% are payments for fixed-line communications, 1.7% - payments from subscribers of commercial television operators, and 10.7% are the retail loan repayments, money transfers, merchandise payments, payments for services of security alarm systems, traffic police fines and other.

CyberPlat®, the first Russian electronic payment system, was established in 1997. The first online payment was effected to the benefit of Garant-Park company on March 18, 1998, and the first payment in favour of a cellular communications operator – Beeline - was effected on August 12, 1998. For 13 years of operation in the electronic payment market, CyberPlat® has been showing a dynamic and stable growth of the payment acceptance network, the number of providers in which favour the payments are accepted, as well as its key business performance indicators as a whole.

Technological base

By the results of a complex monitoring of its largest partners in accepting payments in 2010, the largest mobile network operator MTS recognized CyberPlat® as the most reliable processing system.

In order to improve the mechanism of settlements with clients, MTS — the leading Russian telecommunications operator — carries out a continuous monitoring of the payment systems’ performance. As part of monitoring, specialists from the center of expertise make round-the-clock test payments in favour of MTS through different payment systems.

In determining the degree of reliability of payment systems, the experts take into account such indicators of performance as the rapidity of transactions, the number and duration of the system malfunctions for a certain time interval. By all the above-mentioned criteria, the CyberPlat® payment system is recognized as the best one.

In 2010, the CyberPlat® payment system continued to improve the technological base of complex financial transactions. As a result of the latest upgrading of the technological platform of the system, its productivity exceeded the record 1,300 transactions per second, which provides more than a ten-fold margin with respect to the current system’s peak operating load levels.

Therefore, under the uniformly distributed load with maximum productivity, CyberPlat® system is capable of processing over 40 billion transactions per year.

Such unprecedented productivity is complemented by absolute safety of financial transactions. While making one transaction, the system performs up to 16 operations, authenticated with an electronic digital signature and made with the use of secure methods of transmitting data via Internet channels, including checking of the availability of clients’ telephone numbers or personal accounts in the billing systems of service providers, identification and authorization of payment acceptance outlets, and other operations.

This technology ensures absolute security of financial transactions and minimizes the number of erroneous payments. For the 13 years of operation, there has not been a single case of hacking a transaction in the CyberPlat ® system.

By such criteria as reliability and failure-free operation, the CyberPlat® system also has no equals in the Russian market of electronic payments. The capabilities of CyberPlat® significantly outrun the most rigid technical requirements of the payment acceptance market by all parameters - the fault tolerance indicator of the system exceeds that of the closest competitors several times. Such high indicators of the system’s reliability are determined by several factors.

Firstly, the CyberPlat® payment system is based on two GRID-connected and geographically dispersed processing centers. Such architecture of the payment system’s operation provides high failure tolerance of CyberPlat® and its independence from the majority of force majeure circumstances.

Secondly, the CyberPlat® payment system places the highest demands on the software which guarantees high quality and performance of the system as a whole.

Thirdly, the CyberPlat® payment system has been successfully operating for 13 years. During that time, it has been debugged and optimized; all of its major modules have been completed and smoothed.

Payment acceptance network

In 2010, CyberPlat® payment system was building up its leadership by the scope of its international global payment acceptance network which comprised 480,000 outlets by the beginning of 2011, having added 60,000 new payment acceptance outlets.

The number of payment acceptance outlets in the Russian Federation and the CIS connected to the CyberPlat® payment system exceeded 310,000. The unique density of coverage in Russia and CIS countries makes carrying out of payments convenient and comfortable for users of CyberPlat® and saves them much time.

The cost of processing a payment in a retail chain is considerably lower than in the banking system: the payment is accepted at a regular cash-register and the cashier, apart from accepting payments, maintains the main operations of the trading company. This enables acceptance and processing of even very small payments effecting of which by banks is loss-making due to higher costs of the banking transactions. Time consumption for payments acceptance via CyberPlat® network is considerably lower than in bank branches. Implementation of such technologies as “Change to the phone” allows additional client service acceleration and queue reduction in trading companies. CyberPlat® company complements the banking payment system in Russia and saves it from a great number of economically unprofitable operations.

Client base

Steady and dynamic growth of business became possible due to connection to CyberPlat® of new networks of payment terminals, trading and dealer companies, as well as branches, offices and ATM networks of numerous credit institutions.

Banks

In 2010, the CyberPlat® payment system continued to develop active cooperation with the leading Russian banks - the number of credit institutions, members of the CyberPlat® system, increased by 50 and comprised 230 banks by the end of the accounting period.

The largest banks, that started collaboration with the CyberPlat® payment system in 2010, were the Moscow Bank of Sberbank of Russia and Zapsibkombank. Thus, at the end of 2010, payment acceptance was enabled through more than a thousand self-service payment kiosks (terminals) of the Moscow Bank of Sberbank of Russia. As early as in summer 2010, the network of more than 400 Zapsibkombank’s ATMs started online payment acceptance via the CyberPlat® payment system. Payment acceptance capabilities were also integrated in “The Mobile Bank” system of Zapsibkombank.

The scope of collaboration between CyberPlat® payment system and its traditional partners has also expanded. For example, features of the CyberPlat® payment system were integrated in Alfa-Bank’s Internet-bank system “Alfa-click” and in the Mobile-bank “Alfa-mobile”. This allowed to substantially increase the list of payment recipients and made these instruments even more appealing for the clients of one of the leading banks in Russia.

A large project was realized jointly with Russian Standard Bank CJSC. The CyberPlat® payment system served as integrator and technological partner in the project for organization of payment acceptance in the network of almost 2,000 self-service terminals belonging to Russian Standard Bank and located in Euroset mobile shops in the entire territory of the Russian Federation. Thus, practically in every Euroset shop, the clients are offered an opportunity to make online payments quickly and without queues, including payments in favour of Russian Standard Bank that are made to repay loans, and refill deposit and card accounts.

In the accounting period, the CyberPlat® payment system was strengthening business with its partners - the largest retail banks in the country: Bank of Moscow, Rosselhozbank, TransCreditBank, Promsvyazbank, Bank Trust, Sobinbank, Russ-Bank, SMP Bank (Bank Northern Sea Route), Sudostroitelny Bank and many other banks.

Retail and cash-in terminal networks

The leading position of the CyberPlat® payment system is associated with permanent improvement of the quality of its services provided to its clients. In the accounting period, the CyberPlat® payment system continued its fruitful co-operation with the largest Russian retail networks – Euroset, Svyasnoy, ION, the retail network of MTS, chains of electronics stores Eldorado, Bely Veter, terminal networks Elecsnet, Platforma, UNACT, Novoplat and many others.

Partners of the CyberPlat® payment system primarily are the large companies with steadily growing turnover and a high level of technological and corporative culture – whether they are retail and terminal networks or companies, specializing in providing such services as mobile communications, commercial television, telecommunication services, as well as housing and utility and power supply companies, and many others.

Providers

In 2010, the CyberPlat® payment system introduced new opportunities in the payment acceptance market and increased the number of service providers registered in the system by more than 100% — from 700 to 1,500.

In the accounting period, all branches of Mosoblgaz company, dozens of businesses in the segment of housing and public utilities, power supply companies, large regional providers of cable TV and the Internet, and many other companies became members of the CyberPlat® payment system.

Citizens of Russia and those CIS countries, where the CyberPlat® payment system operates, have already got used to paying practically at any place for the services provided by operators of mobile and fixed-line communications, commercial television, Internet-providers, banks and satellite security systems. It is also possible to use the CyberPlat® payment system for fast and comfortable payment, without any queues, for utility services and for replenishment of bank accounts with any banks in the territory of the Russian Federation, as well as for payment for virtually all goods and services permitted by the law.

Capabilities in receiving payments from individuals in favour of any providers of goods and services have been seriously expanded after changes in the legislation which came into force in the beginning of 2010. This created conditions for the transfer of small regular payments from bank branches to retail businesses and networks of payment terminals which are partners of CyberPlat®.

In view of changes in the legislation, experts of the CyberPlat® payment system have developed a number of products and services that allow maximum use of the new capabilities.

New product — Banking provider

One of these services is the Banking Provider gateway which allows partners of the payment system to act as agents of Commercial Bank PLATINA (the settlement bank of the CyberPlat® system) and arrange acceptance of payments in favour of regional and local providers of housing and utility services, power supply, cable TV, Internet access, as well as payments for doorphones, child daycare centres, parking lots, and different kinds of tax payments. The requisites of such payment recipients are verified by relevant services of CyberPlat® and are registered in the system.

Dealers can also add to the system new providers from among the most popular and in demand providers in the given city or region. All new providers registered in the system become concurrently available to all dealers of CyberPlat®. Every dealer can choose those providers, payments for whose benefit are the most in demand by potential clients.

Bank account replenishment and loan repayment

Manifold opportunities for the growth of turnovers is also enabled by the available to all dealers “Multibanking credit gateway” through which payment acceptance is arranged in favour of any bank in the territory of the Russian Federation – for replenishment of deposits and card accounts, including those made to repay loans.

Payments by free requisites

Another service — Payments By Free Requisites — allows to effect payments for goods, works, services, taxes and fees, as well as for the replenishment of bank accounts through the cashiers of sales outlets and self-service payment terminals connected to the CyberPlat® payment system — given that the payer knows the banking details of the payment recipient.

In order to make a Payment By Free Requisites one only needs to know the banking details of the provider or institution — the payment recipient. This service is very easy to use - one should select the type of payment, fill in the recipient’s banking details and confirm the operation.

Payments By Free Requisites are available not only in the payment acceptance system CyberPlat® but also for the users of "Payment Book CyberPlat". This service provides the feature of saving details for such payments, which simplifies further operations reducing them to adjustment of the amount, if required.

Payments to Banking Providers in favour of any banks through the “Interbank Gateway”, and Payments By Free Requisites in the CyberPlat® payment acceptance network are an excellent alternative to payments at bank branches. Citizens get rid of the necessity to stand in queues in the banks and obtain an opportunity of prompt payment for any legally permitted services in the retail business. Thus, from now on, any payment in favour of any legal recipient of funds can be made within less than 10 minutes.

These capacities have been realized in all client software of CyberPlat® — in Payment modules for cashiers and personal computers, and in the software for self-service terminals.

Project for accepting utility payments through Euroset

In 2010, CyberPlat® payment system and Euroset network of cell phones and electronics shops implemented a project for payments for housing and utility services in Moscow and Saint Petersburg. As a result, the clients have been provided with absolutely unprecedented level of convenience and speed of servicing while making all types of regular payments due to the use of the barcode technology. This channel of accepting utility bills is capable of making a serious competition to traditional methods of making payments through Sberbank of Russia and Russian Post.

In order to make a payment, it is enough to show the receipt with a barcode to a cashier at a Euroset store. The payment procedure will take less than 5 minutes. The amount is credited to the account of housing and communal services companies within 2 days. Currently, the described technology allows to pay for utilities, electric power, landline communication, and long-distance calls in Moscow and Saint Petersburg. It is planned to expand this project to all million-plus cities in Russia.

Payments in favour of traffic police (GIBDD)

In the accounting period, the payment acceptance network of CyberPlat® implemented the possibility of accepting payments in favour of Russian traffic police (GIBDD) in the entire territory of the Russian Federation. As a result, citizens obtained an opportunity of making payments in favour of GIBDD agencies not only at the bank branches but also in 310,000 payment acceptance outlets of the CyberPlat® payment system – without any queues, quickly and comfortably.

For example, almost three thousand cell phones and electronics shops working under the brand MTS and located in cities throughout the Russian Federation, in the accounting period, began to accept payments of fines for violation of traffic rules. At the same time, any MTS shop located in any locality in Russia offers an opportunity of paying fines issued by any territorial unit of GIBDD (Russian traffic police).

In order to pay a fine, the client gives to the cashier their name, middle name, and the last name, as well as the OKATO code and the tax payer ID number (INN) of the GIBDD unit that registered the fine, as well as number and date of action. Then the client pays the fine amount to the cashier and gets a receipt for the effected payment.

As a result of introducing a new service, the Russian citizens will obtain an opportunity to pay the GIBDD fines without queues, quickly and comfortably in the nearby payment acceptance outlets. And the state will increase budget revenues due to increased collectability of fines - according to the State Automobile Inspectorate authorities, today this indicator, depending on the region, is within the range of 30-45%. Additional revenues of the budget will allow for more effective solution of the major social problems of the society and the state.

Federal Treasury Project

In 2010, CyberPlat® payment system and PLATINA Bank, the system’s settlement bank, became members of the project of the Federal Treasury for accepting payments from individuals towards payment of federal penalty charges, state duties, and dues and fees.

The project of the Federal Treasury is being implemented in accordance with the resolution of the Government Commission on implementation of information technologies into activities of state bodies and bodies of local self government. Its focus is optimization of the electronic technology of payment by individuals for state duties, penalty charges (including fines issued by the Russian traffic police (GIBDD)), and dues and fees. The payment recipients are such government institutions as the Federal Tax Service (FNS), the Ministry of the Internal Affairs (MVD), and the Federal Migration Service (FMS).

Upon implementing the pilot project of the Federal Treasury in four regions of the country, the next stage is planned — deployment of the all-federal system of electronic payments in favour of all state and municipal structures. CyberPlat® — the largest in Russia and the CIS countries by the scale of client service network payment system — will become an important part thereof.

Project for the Pension Fund of the Russian Federation

Another major project of the CyberPlat® payment system in 2010 was the project for payment acceptance for accrual to citizens’ personal retirement accounts.

The reform of the pension system in the Russian Federation has provided the citizens with an opportunity to form the cumulative part of their retirement pension individually. The enumeration of additional contributions to the personal account increases the size of pension payments and many individuals actively use this feature.

The government stimulates this as well — the State pension co-financing program has been in place since January 1, 2009: one part of contributions to the cumulative part of the pension is paid by individuals and another part — by the government. Currently, the number of citizens participating in the Program is getting close to 4 million people.

Many people participate in programs of building the cumulative part of their pension that are offered by Non-state pension funds, which also results in necessity of regular payments to retirement accounts.

It is for these citizens that the CyberPlat® payment system has realized the possibility of making payments to individual personal retirement accounts.

The possibility of replenishing retirement accounts through the payment acceptance network of CyberPlat, counting more than 310,000 service outlets, contributes to raising the citizens’ interest for participation in cumulative retirement programmes and stimulates the development of the pension reform in the Russian Federation.

VISA virtual cards

In the accounting year, in the network of the CyberPlat® payment system, there began distribution of VISA virtual cards of PLATINA Bank, the settlement bank of the payment system.

The holders of VISA virtual cards can use them to pay for services of popular worldwide network services of Skype, iTunes and Google, to make purchases through the systems eBay, PayPal, and in numerous online stores such as 'amazon.com', as well as to pay for computer games — PlayStation, World of Warcraft and other. Using a VISA virtual card one can buy tickets through the websites of air companies and travel agencies, as well as purchase railway tickets through the website of the Russian Railways ("RZhD").

VISA virtual cards are in high demand by the category of the population which holds and actively uses regular bank cards but quite reasonably considers that payments through the Internet are transactions with a high degree of risk.

This card will allow users who are not holders of regular bank cards to make payment transactions through the Internet. Those are citizens who have no bank account, as well as young people under the age of 16 years old who are legally restricted in the possibility of obtaining regular credit cards. At the same time, it is young people who constitute a significant part of the Internet users and need to make small but regular payments through the Internet.

The new product is of high interest to the partners of the CyberPlat® payment system - the popularity of virtual cards for payments through the Internet rapidly increases, along with expanding of the range of goods and services offered in the global network.

Money transfers

2010 was the year of a large-scale use of Money Transfer System Integrator (MTSI) — a unique product developed by the CyberPlat® experts — in the money transfer market.

The use of MTSI greatly, i.e. tenfold, increases the effectiveness of banks’ activity in the field of money transfers due to sharp cost reduction along with expanding their client base. For example, the costs of a bank operating three money transfer systems and changing over to the Integrator will be reduced three times and, thus, the client coverage will be increased more than three times. Introduction of MTSI is a unique opportunity for banks and other credit institutions to cover the maximum of the money transfer market at minimal costs.

MTSI has been successfully operated and maintained in Russia since April, 2008 and, by the end of 2010, allowed sending transfers through nine systems: UNIStream, Anelik, Bystraya Pochta (Fast Mail), Leader, InterExpress, AsiaExpress, Allure, and the two major international money transfer systems. Several other money transfer systems are being connected.

For an effective entry into the extremely profitable market of money transfers, it is necessary to cover all potential clients wherever possible. Since none of the money transfer systems has a market share equal to more than 20% in any of the CIS countries, then, for the full coverage of the clientele, it is necessary to cooperate with all large money transfer systems — according to calculations made by CyberPlat® experts, not less than with nine systems.

In order to work with nine money transfer systems without using the MTSI, any bank would have to do the following:

  • conclude and maintain 9 contracts with money transfer systems;
  • maintain the necessary level of balances of 9 correspondent accounts with the settlement banks of these systems or allocate 9 deposits to operate them;
  • purchase 9 servers;
  • install 9 payment interfaces (gateways) – by the number of systems;
  • install 9 different and quite complex software packages – by the number of systems;
  • and, most importantly, teach the tellers to operate 9 interfaces simultaneously, which is simply impossible – in practice, even an experienced specialist will make a great number of mistakes while operating more than three systems.

Having implemented the MTSI solutions of CyberPlat®, any bank will be enabled to do the following:

  • operate all money transfer systems under a single agreement;
  • maintain only one correspondent account for operating all money transfer systems;
  • use only one server;
  • install only one software package;
  • create only one easy-to-develop technological gateway;
  • obtain a new high-yielding and marketable service;
  • expand the client base due to the new service.

As of beginning of 2011, 61 banks – partners of the CyberPlat® payment system has already signed agreements for the use of MTSI to serve the clients on money transfer transactions, while another 57 agreements with banks were being negotiated.

In 2010, one of the key banks – partners of the CyberPlat® payment system – Russian Standard Bank – was actively expanding transactions in the field of money transfers with the use of MTSI. In 2010, the capabilities of the service of MTSI allowing to simultaneously operate a number of money transfer systems were complimented by connection of the systems Allure, Bystraya Pochta (Fast Mail), and Moneygram®.

MTSI enables banks that have implemented this tool to operate an unlimited number of money transfer systems using a single interface. MTSI can be installed in branches, operating cash desks, Internet-Bank-Client system, ATMs and payment terminals.

An MTSI version for payment terminals and ATMs allows clients to use these devices for transferring funds any time at their convenience after a single registration at a bank branch. This way the bank branches are relieved from the queues.

MTSI is easily integrated with the “Client-Bank” systems and provides bank clients with an opportunity to send money transfers using their home, office or portable computer. Implementation of MTSI instantly enhances the geography of money transfers and results in a sharp and significant growth of the bank’s client base.

Terminal business

A great number of payment terminal networks, as they develop and enlarge, prefer to operate a payment system which does not have a terminal network of its own and hence cannot be a competitor to their business a priori. For this particular reason, in 2010 many payment terminal networks, operating through other payment systems, changed over to taking the service from CyberPlat®.

The clients that use the CyberPlat® software have an opportunity to choose the service providers in whose favour they can accept payments. In this case, the CyberPlat® payment system, unlike its competitors, does not impose upon its clients any servicing or services which they do not need.

One of the key advantages of the Cyberplat® payment system’s software for terminals, which the company updated and improved in 2010, is its versatility, and simplicity of installation and running of the said software. Availability of public codes to the developed programs is the CyberPlat® software’s distinctive feature which attracts major clients.

The CyberPlat® software is widely used by the operators of terminal networks, because unlike the software of competing systems, they allow any modifications with due respect to the specificity of their use and their location, and offer the operators an opportunity of promoting their own and not an outside brand, thus, without imposing any unnecessary financial products upon them.

The withdrawal from the concept of software development within the company which created the product, and transition to the classical mode of open initial code (Open Source) have been stipulated by growth of popularity and the scale of using the terminals software developed by the CyberPlat® experts. The important advantage of the new product over internal projects is its faster development due to constant cooperation of different groups of developers among themselves and with the community of Open Source products’ users.

If necessary, the open codes allow adjusting software applications to the requirements of large networks, as well as adjusting CyberPlat® applications for their integration into billing systems, business management systems and client accounting systems. The access to initial codes of programs makes CyberPlat® solutions more flexible and allows them to be entirely integrated with business processes of partners.

Besides, the software for the payment terminals developed by CyberPlat® experts enables the payment system’s dealers, at their will, to arrange for connection of any local service providers, e.g. local or regional Internet and cable TV providers, housing and utility companies, child daycare centres, schools, etc. Such opportunity not only ensures additional income but also increases the popular appeal of CyberPlat’s sales network due to the wide range of services rendered.

Technilogical and financial innovations

CyberPlat® payment system has developed a number of revolutionary products and services for the banking segment and large retail networks which allows to increase the profitability and competitive edge of their business.

Remote Banking Channel

Remote Banking Channel (RBC or “KUB”) is a system of super cheap bank branches which can be established and maintained not only by the banks but by any merchant. Placement of each such office will cost only $8,000, while moving it to another location — $200—$400. Investments at the rate of $5,000,000 allow to deploy more than 600 banking service outlets which can be placed in the most profitable locations — at shopping malls and supermarkets, sports clubs and gas filling stations — anywhere, where there is a flow of potential clients. RBC ensures acceptance of various groups of payments with use of the barcode technology based on the CyberPlat® payment system and allows to sell the entire range of banking products and services currently existing in the market.

Internet Bank-Client for Banks

The CyberPlat® payment system has developed the system Internet-Bank-Client for Banks (IBCB) — an effective financial instrument within which banks-members are offered to make mutual settlements in the real-time mode. In this case, the cost of one payment makes only 1 rubles, which is 7 times cheaper than payments thorough the Interregional Centre of Informatization of the Central Bank of Russia.

Payment Book

Payment Book CyberPlat is a financial service of a “single window” offering its users a convenient opportunity to make regular payments via various distribution channels. The service ensures creation of a list of standard payments, storage of the history of payments, printing out of receipts, and absolute safety of transactions. Payment Book is distributed in the form of an independent programme module and can be easily used by the banks as a simple solution for Internet-banking under its own trademark. The same solution can be used as the basis for development and implementation of services of the “Mobile wallet” class by service providers – for instance, by mobile network operators, Internet and cable TV providers. The retailers and networks of payment terminals connected to the CyberPlat® system can also effectively use this service and earn both on connecting new clients of the Payment Book and on its replenishment.

The business scheme of the project provides the most favourable conditions for the partners of the CyberPlat® payment system in terms of creation and distribution of commission fees.

The dealers that are connected to the use of the new service will benefit twice:

  • Firstly, they earn on operations of replenishing the Payment Book and have an opportunity to freely determine their own (external) commission for these payments.
  • Secondly, by registering a new user of this service, the dealer gets 30% of operating income generated by the client’s payments from their personal Payment Book. This income consists of commission fees of providers in which favour the payments are made (internal commission). Thus, having once registered a client, the dealer has a part in the income from their payments through the personal Payment Book during 10 years after registration.

Anyone who has registered their personal Payment Book at www.plat.ru, or using terminals or cashiers at sales outlets of the partners of the CyberPlat® payment system can become a client of this convenient service.

Having replenished their Payment Book account, the users get an opportunity of using the web-interface to make payments in favour of a wide range of service providers - cellular and fixed-line communications, cable and satellite television, Internet providers, public utility companies (altogether more than 1,500 providers). In this case, all payments due to debit from the Payment Book account are made without a surcharge.

The Payment Book account can be replenished through the terminals and cash registers at sales outlets of those partners of CyberPlat®, who are connected to the new service. The Payment Book saves the details of regularly made payments, which allows performing operations on personal accounts replenishment and repayment of the accumulated arrears in a matter of seconds. Saving history of performed operations not only will allow users to control the current expenses, but also to plan their family budget.

The important advantage of the new service is that it is possible to register in the system new payment recipients such as local cellular communications operators, cable television providers or housing and utility companies.

Administrative and financial management

Business activity of the CyberPlat® payment system is licensed by such governmental bodies as Federal Security Service of Russia (FSB) and Federal Service for Oversight of communications, information technology and mass communications.

The certificate of the leading auditing company “KPMG Limited” which performed the operational audit of CyberPlat OJSC proves the compliance of CyberPlat’s internal control system with the international standard SAS 70, Type I developed by the American Institute of Certified Public Accountants (AICPA).

Besides, CyberPlat OJSC has a certificate of conformity of the management quality to the international standard ISO 9001:2008 — a series of international standards adopted as national standards in more than 140 countries worldwide.

Over the period of several years, the financial performance of the company has been audited in accordance with the International Accounting Standards by the leading Russian auditing company BDO UNICON. This proves the status of the CyberPlat® system as of a reliable financial partner and ensures transparency of the CyberPlat® payment system’s activity, which favorably distinguishes it from among its competitors.

Regional development

In 2010, CyberPlat® successfully developed and expanded its business in the territory of Kazakhstan, the Ukraine and Moldova within the scope of the full scale international expansion program.

Historically, CyberPlat® is the first payment system in Kazakhstan. The subsidiary company in Kazakhstan – CyberPlat-Kazakhstan LLP – was established as early as on September 15, 2005. The first payments were effected through the system in April, 2006. For the past five years of the CyberPlat® presence in Kazakhstan, a powerful and advanced payment infrastructure was developed.

In is notable that, as in Russia the first effected payment in the market was to a cellular communications operator Beeline, so in Kazakhstan subscribers of one of the largest mobile network operators, Kar-Tel (Beeline Kazakhstan), were the first able to refill their mobile phone accounts in CyberPlat-Kazakhstan payment acceptance network. CyberPlat® not only created the market of online payments in Kazakhstan, but actively developed it for the following five years.

Citizens of Kazakhstan quickly appraised all benefits of the new service – on the go instantaneous payments for mobile or fixed-line communications, and Internet and cable TV that are often made along with other purchases within seconds.

By the beginning of 2011, the dealer network of the CyberPlat® system in Kazakhstan exceeded 13,000 payment acceptance outlets. Its base in comprised by mobile shops, retail electronics stores, shopping malls, gas filling stations and networks of self service payment kiosks (terminals). One of the most important partners of the CyberPlat® system is the national post network Kazpochta JSC - mutual cooperation has being developing for the whole past five years.

One of the joint projects is implementation of the newest service for money transfers - MTSI (Money Transfer Systems Integrator) - in the post offices of Kazakhstan. Developed by CyberPlat® experts, MTSI allows Kazpochta operators work through the single interface with eight money transfer systems and perform money transfers almost all over the world with minimal client’s expenses.

Successful development of the CyberPlat® payment infrastructure means that citizens of Kazakhstan are now capable to perform convenient payments for different services in the nearby payment acceptance outlets. This fact is of significant importance due to expansion of the range of payment recipients – along with payments for mobile and fixed-line communications, cable TV and Internet, it is already possible to make payments for power supply services in Kazakhstan through the CyberPlat® payment acceptance system. In the nearest future, it will be possible to make payments for housing utility services and repay loans.

The CyberPlat® payment system’s business in the territory of the Ukraine has been rapidly developing within the constraints of the global international expansion program. As of the end of 2010, the CyberPlat’s payment acceptance network in the Ukraine consisted of more than 3,500 outlets and their number is constantly increasing. Mobile shop networks Mobilochka, Allo, Euroset, Evant, chains of stores Eldorado, Stells and others are among the largest partners of the CyberPlat® payment system in the Ukraine.

There was a real revolution in the financial market in 2010. Legislative changes resulted in creation of the real, based on implemented and approved technologies, background for active relocation of the major part of payments from banking to retail. Business entities connected to our payment system will increasingly accumulate small regular payments of citizens for the whole range of services. Utility services, communications, power and gas supply and many other services are already available for payment almost in every nearby store. The same refers to payments credited to bank accounts. At the same time, there is a technological revolution which allows to maximally automatize and accelerate such payments at the retailers. As a result, there will be formed a new financial mode, which will be extremely comfortable for citizens; for traditional utility service providers and government establishments; as well as for new economy enterprises – mobile network operators, Internet and cable TV providers and other innovative companies,” — stated Andrey Gribov, President & CEO, CyberPlat OJSC.

 
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