News Releases

2022202120202019201820172016201520142013201220112010200920082007200620052004

Back to News List

August 3, 2005

CyberPlat®'s OJSC turnover in the first half of 2005 exceeds $ 400 million.

CyberPlat®'s leadership in the payment collection market is consolidated by an unprecedented $401 million turnover in the first half of 2005

CyberPlat®'s turnover in the first half of 2005 reached $ 401 million, while the total turnover for 2004 was a mere $ 459 million.

In May 2005 CyberPlat®'s cumulative payment reception turnover exceeded $1 billion. This happened just as CyberPlat® entered a new stage of corporate development characterized by a rapid increase in the payment collection turnover and the number of clients.

The total number of CyberPlat® outlets increased almost twofold in comparison with December 2004 and exceeded 7600. There was a substantial increase in the number of operators whose payments are receipted. Thus instant topping up of their accounts via CyberPlat® is now available to all the subscribers of Megafon-Sineria, Megafon-North Caucasus, MOTIV and Comcor-TV.

The universal multi bank payment system CyberPlat® was created in 1997 and has now become the undisputed leader in the Russian payment collection market. The first online payment for Vympelcom was processed in August 1998.

One of CyberPlat®"'s special features is the online processing of transactions, however if the provider's billing system freezes the clients can opt to have their payments accumulate until the operator's billing system is brought back up.

Today CyberPlat® has 33 online payment gateways to the billing systems of different service providers. In this way CyberPlat® provides access to the mass market and ensures a reliable financial link between operators and their subscribers.

Cyberplat®'s partners are primarily large companies with steadily increasing turnovers and a high level of corporate and engineering culture, whether they are retail chains or mobile service providers or sat and cable TV networks or ISP's. Thus in the first half of 2005 CyberPlat® partnered up with Russia's largest pharmacy chain 36.6. Saint Petersburg based payment reception network Petroelectrosbyt, Murmansksvyaz subsidiary of North West Telecom, MTS's exclusive dealer/retail network Novitel and the Polaris computer retail chain.

In the first half of 2005 CyberPlat® continued its partnership relations with such market leaders as the federal retail chains Svyaznoi, DIXIS, Euronet, Mobile Center, Ultra Star, Beta Link, ION, Teleforum, Tzifrograd, the Grossmart supermarket chain, the Ostrov supermarket chain, the Mir and Belyi Veter electronic appliances retail chains, the Jackpot chain of Moscow casinos, the Sibneft chain of filling stations, the Parnet network of electronic terminals , the 36.6 pharmacy chain, the Murmansk subsidiary of North West Telecom and many others.

Up to day and easy to use technologies, high security of transactions ensured by the use of electronic signatures, comfortable financial conditions that include the use of future receipted payments as collateral for business loans, all of these make CyberPlat® a most attractive partner for Russia's leading companies interested in payment reception as an additional service to be offered to their clients. Thus in the first half of 2005 the following companies joined CyberPlat®: Khanty-Mansiysk Bank OJSC, Stroircredit Bank, SDM-Bank, Urals Financial House, Gasenergobank, Trust Republican Bank and others.

The number of federal postal offices that take CyberPlat® payments also increased. At present over 300 federal postal offices take CyberPlat® payments across Russia. It is planned to increase this number 10 times by the end of 2005.

The steadily increasing turnover and quality of service make CyberPlat® a market leader in its sector. Thus in the first half o 2005 MTS and Vympelcom acknowledged that CyberPlat® is their largest payment collection partner.

One important edge that CyberPlat® has over the competition is that it uses a variety of technological solutions of taking payments.

Payments can be collected:
• By an operator (for example at a dealer company),working on a computer connected to the Internet who makes the payment transaction through the CyberPlat® payment reception web portal;
• By a cashier using an automated cash register (say in a large retail store): in this scenario the CyberPlat® payment system is accessed via the store's server;
• By ATM's, POS and other terminals. Thus, retail chains such as Grossmart and Ostrov use cash registers, the Jackpot casino chain use a customized solution based on their corporate network. Other dealer chains ("Svyaznoy, DIXIS, Euronet, Mobile Center, Beta Link etc) use the web portal, electronic appliances retail chains Mir, Belyi Veter and the Sibneft filling stations all use a PC based solution, while small dealers and sub dealers primarily use light configurations based on Excel and GPRS.

The system keeps track of all transactions irrespective of which particular mode is used to access it, while total payment statistics are available to the administrators of the dealer companies online on the CyberPlat® web site.

Another competitive advantage is the use of the two stage method of making a payment transaction. In this method every transaction is authorized prior to being executed. The authorization is done by queering the billing system of the service provider to check whether it actually has the account that the client wants to make a payment into. This querying is done online. Only after a confirmation is received from the provider's billing system can the transaction be executed. Some competitors don't use the two stage principle which results in large numbers of errors and as a consequence an equally large number of customer complaints.

CyberPlat® is a closed payment system. The difference from an open type system is that in CyberPlat® all participants of a transaction (the subscriber, the provider and the dealer/agent who takes the payment) are known beforehand. An outlet operator cannot withdraw money from the system as the only type of transaction supported by it is from an outlet to a provider and eventually money always gets added to a subscriber's account.

The use of digital electronic signatures eliminates the risk of fraud and rules out any controversy as to the origin of transactions in the operators' billing systems. In CyberPlat® all payment collection transactions use electronic signatures.

2022202120202019201820172016201520142013201220112010200920082007200620052004