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March 15, 2018

CyberPlat® for Russia: 20 years ago the company started the e-payment market

Twenty years ago today, on March 18, 1998, electronic payment system CyberPlat® processed Russia’s first internet payment. Thanks to its professionalism and strategic perspective on the market, CyberPlat® team created Russia’s first integrated multibank system and electronic settlement market, one of the most high-tech sectors in the Russian economy. Thanks to the company’s payment solutions, Russia has become global leader by the micropayment infrastructure’s availability and geographical distribution while having the lowest prices.

In terms of novelty and relevancy of its solutions, CyberPlat® is on a par with international IT giants, acclaimed leaders of the global market. Throughout 20 years CyberPlat® has been of the world leaders in financial transaction processing and remains unmatched in terms of reliability, performance, and protection of its services, as well as in terms of the payment network scale. As of today number of CyberPlat® payment acceptance points in Russia is severalfold higher than all country’s bank branches combined. CyberPlat® was Russia’s first to build a widespread, accessible, and effective financial infrastructure for a large scale of payments to various providers of goods and services. In 20 years the electronic payment system has processed over 12 billion transactions — one and a half time more than the entire Earth population and nearly eighty (80) times more than the population of Russia. Pioneering company’s vigorous development pace in e-finance induced innovative technological breakthrough in that field.

Having substantially complemented country’s banking system, e-payments system has become a part of Russia’s strategic IT infrastructure. CyberPlat® network deployed all across Russia from Kaliningrad all the way to Vladivostok helps the population to make quick, convenient, and low-cost small payments. Ubiquitous availability of the CyberPlat® technologies has helped to lay the foundation for the country’s innovative economy, remove limited use of modern digital services for the public, and neutralize «digital inequality» throughout Russia. CyberPlat® continues to lead in technological advancement and IT security of payment services. Highest performance, reliability, fail-safety, and continuity of the electronic payment system are complemented with absolute security of transactions; in 20 years of operation there was not a single breach.

Pioneering fintech solutions with the focus on innovations, constantly expanded product line in electronic settlements, absolute financial transparency of payment transactions have all ensured high business efficiency and sustainability in various economic situations for CyberPlat®. Periods of economic crises in Russia demonstrated high competitiveness of the company’s solutions and became an incentive for creation and successful development of new multifunctional payment products.

Interest towards high-tech services of CyberPlat® among representatives of various business segments has been on the stable rise. The payment system partners include leading banks of Russia, Kazakhstan, and CIS, federal and regional retail chains, tech companies with consistent financial figures and high level of corporate management. CyberPlat’s need for novel solutions developed by Russian specialists has substantially grown amid international sanctions when use of home-made technologies became one of the top priorities in the country’s economy policy. The payment system’s new partners include major holding and financial structures as well as state-owned companies and organizations.

In Russia — and in the world, too — no more than a mere handful of companies managed to become founders and pioneers in high-tech markets. For two decades back-to-back, including times of turbulence in the country’s economy, CyberPlat® has been substantially moving forward offering new highly competitive tech solutions on the payment services market. Our partners can have sustainable growth offering their customers sought-after financial services based on domestically developed high-quality products while seeing substantial income growth in their business. The philosophy of the advancing development of CyberPlat®, wide range of electronic services, flexible and efficient solutions, convenient and secure use of the system have always been and remain to be the backbone of current and future success of Russia’s electronic settlement market success,» highlights CEO of the CyberPlat® electronic payment system, Andrey Gribov.

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