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February 15, 2011

Money Transfer System Integrator by CyberPlat® enters retail

The unique product CyberPlat® which has been used only by the bank clients will soon be available at the cashiers of retail outlets, in mobile shops, pharmacies, and gas filling stations, as well as at the cash-in payment terminals connected to the CyberPlat® payment system.

The customers will be able to choose one money transfer system out of several systems that are most popular in Russia and the CIS countries. Such possibility is ensured by the unparalleled in the world product of the CyberPlat® payment system.

The service enabling to work with many money transfer systems through a “single window” was originally developed to be used in the banking segment. Now, it will be used by the other partners of the payment system – retail outlets, mobile shops, and operators of terminal networks.

Money Transfer System Integrator (MTSI) has been long and successfully used by the Russian banks. Today, it also enables remittances through retail networks, including these systems: Unistream, Leader, Bystraya Pochta (“Fast Post”), Anelik, InterExpress, Allure, Asia-Express. Another eight money transfer systems will be added to them this year.

The product was developed with regard to the fact that none of the money transfer systems has a market share of more than 20% and it is necessary to work with all major money transfer systems for the full coverage. The choice of a particular system by a customer depends either on the geography of the transfer (networks of different money transfer systems have different coverage), or on the size of the transfer fee (different rates for different systems).

For the purpose of expanding the use of this unique product, CyberPlat® experts have adjusted the Money Transfer System Integrator (MTSI) to be used at the cashiers of retail outlets, in mobile shops and in cash-in payment terminals. The widespread implementation of MTSI in the networks of CyberPlat® payment system’s partners will make sending of money transfers a comfortable and convenient operation, and will ensure a new level of customer service quality in the close proximity outlets.

Special versions of the Money Transfer System Integrator (MTSI) for cash registers, personal computers and payment terminals are currently offered by the CyberPlat® payment system to its partners to increase the turnover and profitability of their businesses. No financial or significant organizational expenses are required to start accepting money transfers – it is enough to update the existing software remotely - depending on the type of the equipment used.

Our product has no parallel in the world - it works effectively with banks and dramatically increases the volume of the sent money transfers. In view of high demand for this service, we have adjusted the product for the retail market, and made it more affordable for customers. Henceforth, any citizen can send money literally on the move - in a store while making purchases or in a mobile shop while topping up their subscriber's account,” — stated Mr. Andrey Gribov, President & CEO, CyberPlat OJSC.

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