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March 19, 2008

CyberPlat® accepts payments for using the GLONASS global navigation system

Through the payment outlets served by Cyberplat®, it has become possible to make payments for using hand and automobile navigators of the GLONASS global navigation system.

The priority trend of development of the Russian national global navigation satellite system, GLONASS, is forming its customer segment. In the nearest future, the GLONASS technologies will enter the mass market and will be available for the population.

Localization and route determination by means of hand and automobile navigation devices are expected to be the fundamental trend of the GLONASS usage by the population. The fastest development of commercial utilization of this system will be in this segment, as well as in the segment of ensuring the vehicle operation safety (route control, protection from theft, etc).

Naturally, commercial utilization suggests the necessity to receive payments for the rendered services. In order to organize these payments, the GLONASS system has connected to CyberPlat® — the largest in Russia electronic payment system which has the greatest number of payment outlets in the country. The network of CyberPlat® payment outlets counts over 115 000 points which are directly connected to the system. Combined with the sub-dealer outlets the system comprises 160 000 points, and that totally covers the territory of Russia, and includes the outlets placed in some CIS countries.

Such wide coverage allows the users of the navigation system GLONASS to make payments for its services in any convenient location with no lines, fast and comfortably.

CyberPlat® consistently and continuously endeavors to support the high technologies in Russia. Just like the Internet and mobile telecommunication, the GLONASS technologies will soon become a new kind of mass network services. We believe that, by that time, the system should have a formed infrastructure of interaction with users, and first of all — the payment acceptance infrastructure” — General Director of the CyberPlat® Company, Andrey Gribov remarked.

CYBERPLAT OJSC is the leading Russian Internet company offering its services in the e-commerce segment, including payment processing and secure on-line document interchange. The company’s product CyberPlat®, the universal multibank integrated internet-payment system, is the absolute leader in the payment acceptance market. Currently, the CyberPlat® cash acceptance network consists of over 100 000 points of sale, accepting cash payments for the benefit of leading telecommunication service providers, commercial television and numerous other service providers nation-wide, including Beeline, MTS, Megafon, Tele2, NTV-Plus and many others. The total turnover of the system amounted to 120.7 billion rubles (or 4.74 billion US dollars) in 2007. The CyberPlat® electronic payment processing system is the member of GSM Association. BDO Unicom is the official auditor of CyberPlat®.

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