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January 23, 2020

CyberPlat presented a book on the modern payment infrastructure of Russia

CyberPlat® announces the release of the book «CyberPlat® Technologies: The Basis of the Global Infrastructure of the New Economy.» The founding company of the Russian market of electronic settlements in its publication described more than 20 years of experience in the development of payment technologies, talked about the development of new payment instruments and the creation of a financial infrastructure in the country that is as accessible as possible for wide sections of the population.

The electronic version of the book is available at the links:

At one time, banks were created to store large amounts of money. Therefore, banks have fortified walls, armored doors, are serviced by highly qualified and, accordingly, highly paid personnel, and also use the best technical achievements to ensure the safety of money. As a result, the cost of a transaction for accepting cash and making a payment is usually at least $ 1.

The knowledge economy has created many commercial enterprises (for example, providing communication services) that serve tens of millions of subscribers. These enterprises collect a very large number of small payments. Making such small payments for banks is not profitable.

However, to receive such amounts do not need high degrees of protection. It’s quite safe to collect payments of several US dollars through the cash registers of ordinary retail chains (communication shops, supermarkets, pharmacies, gas stations), which is much cheaper.

The CyberPlat system was the first in Russia that, at the turn of the millennium, responded to the challenges of modern times by creating a technology for receiving payments from retail chains. By 2010, CyberPlat® had the largest payment acceptance network in Russia.

CyberPlat offered the market an innovative solution that allowed providers to reduce the cost of replenishment of accounts, and to owners of payment acceptance points — to make a profit even with a minimum payment amount. Unlike retail banking, the procedure for accepting payments in the amount of several US dollars does not require such a high degree of security, therefore, small payments are quite safe to accept at cash desks in communication stores, supermarkets, pharmacies, gas stations. Thus, CyberPlat® technologies allowed expanding the payment infrastructure of small payments on a large scale through retail chains, which, in turn, significantly reduced the cost of receiving cash and making payments.

Already today, individuals make regular small payments — for communications, the Internet, cable TV — often through retail chains. In addition, other transactions, such as paying off bank loans and replenishing bank accounts, paying traffic fines and taxes, sending remittances, paying rent and paying utility bills, also move to retail with changes in legislation.

With the development of banking technologies — Internet banking and mobile banking — payments began to be made through electronic banking channels. And here CyberPlat became an innovator of financial technologies, ensuring efficient and safe payments from banks to service providers. Currently, more than 250 banks, including all systemically important banks of Russia, use the payment gateways of the CyberPlat system.

Thanks to CyberPlat, the new high-tech economy has received an effective channel for collecting money for services, and the residents of Russia have been able to fully use modern digital services. In turn, the development of micropayment technologies and the formation of a new large-scale infrastructure have accelerated the growth of high-tech sectors of the new economy.

A professional author’s analysis of the development of the domestic market of electronic payments and an objective assessment of its features make reading necessary for understanding modern trends both in the financial industry and in the economy as a whole. Particular attention is paid to products developed by Russian specialists for the stable functioning of the financial system of the Russian Federation under the conditions of sanctions by Western countries.

Students, graduates of financial and IT departments, developers of information and telecommunication systems, and experts in the field of information security learn a lot of useful information from the book. The CyberPlat solutions presented in the book are of applied nature and can be used as a technological basis for the implementation of pilot innovative developments.

I am sure that the experience of CyberPlat®, accumulated over more than two decades, and concentrated on the pages of this publication, is useful to all market participants who form the basis for the technological development of the new economy. Our book will be valuable and interesting not only to «veterans» of the financial market: we recommend reading it to young entrepreneurs who create startups in the segment of electronic payments, "emphasizes Andrey Gribov, Director General.

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