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December 31, 2008

CyberPlat® starts a new “change to top up” project using a bar-code card

The CyberPlat® payment system is implementing a new product which is unique for the Russian market of electronic payments - “change to top up mobile phones” by means of a barcode card.

While paying for purchases at a cash desk of a retail chain, the customer gives to the cashier a card where his/her mobile phone number is coded and asks to transfer the change amount to his/her personal account with the settlement system of the Mobile Network Operator. The cashier scans the bar-code, effects the payment online and gives the customer a receipt. For the purpose of the project implementation, the CyberPlat® payment system has developed a special processing solution which is integrated with the software for cash registers used in the retail chains.

The use of the bar-code card considerably simplifies and quickens the process of effecting payment transactions. This technology reduces the time of servicing the customers which is quite crucial for retail chains with heavy customer traffic. A considerable time saving in effecting the transactions makes it attractive as for the customers, so for the retail chains.

The pilot project on depositation of change to the mobile phone accounts has been started by the CyberPlat® payment system jointly with the network of supermarkets “Ostrov” (Island). MTS subscribers in Moscow, Moscow region and Tula can now direct the cashier to transfer the change amount to their mobile phone accounts in 24 supermarkets of the “Ostrov” network. The addresses of the “Ostrov” network stores can be found at www.octrov.ru.

In order to reduce the time of effecting the payment, for better convenience and to reduce the labour costs, the CyberPlat® payment system uses the bar-code technology. The telephone number of a subscriber is transformed into a bar-code which is then placed on a special plastic card, sheet of paper, mobile phone screen or any other carrier. Therewith, in order for the cashier to effect the payment, it is enough to hold the card or, for instance, the mobile phone screen against the same scanner which is used for reading the bar-codes of the merchandise.

Anyone interested can print out the bar-code upon entering his/her mobile phone number on the website of the CyberPlat® payment system at http://card.cyberplat.ru/barcode.

The “change to top up” project brings many advantages to every settlement participant.

1. The customers no longer need to “tip” the cashiers and overload their wallets and purses with a big number of coins. Therewith, the main advantage the customers get is their time saving. The process of payment for the mobile phone using the bar-code card becomes fast, convenient and comfortable for the payers.


2. The trading enterprise begins earning on the “change” process receiving its additional income in form of a commission fee for accepting payments and cuts the costs by eliminating the need for ordering and receiving metal money in the bank. Besides, it is expected that implementation of such a project will also reduce the circulation of banknotes of small denomination such as 10 rubles and 50 roubles.


3. The cashiers get rid of their “headache” caused by having to deal with the coins and small banknotes. The very process of “giving change” becomes faster which leads to the increase of the number of customers serviced by a single cash desk.

The total turnover of the store depends to a wide extend on the traffic of the customers who drop by on a daily basis. The implementation of the project on depositation of the “change to top up” at the cash desks of the trading enterprise makes it attractive for the potential customers and increases their loyalty to the retailer. All of that finally leads to the increase in the trade receipts and revenue of the retail store.

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CYBERPLAT OJSC is the leading Russian Internet company offering its services in the e-commerce segment, including payment processing and secure online document interchange. The company’s product CyberPlat®, the versatile multibanking integrated internet-payment system, is the absolute leader in the payment acceptance market. Currently, the CyberPlat® cash acceptance network consists of approximately 370,000 points of sale worldwide, accepting cash payments for the benefit of the leading telecommunication service providers, commercial television and numerous service providers, including Beeline, MTS, MegaFon, Tele2, NTV-Plus and many others. The total turnover of the system comprised 120.7 billion rubles (or 4.74 billion US dollars) in 2007. The CyberPlat® electronic payment processing system is the member of GSM World Association. BDO Unicon is the official auditor of CyberPlat®.

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