Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

eMoney 2011 in Russia: New stage and new opportunities

421 views

Published on

This is presentation from 2012 Russian eMoney Association meeting. You may find there some notes on statistics as well. More resent stats will be available soon

Published in: Economy & Finance, Business
  • Be the first to comment

eMoney 2011 in Russia: New stage and new opportunities

  1. 1. 10 April 2012 Press-conference Russian Electronic Money Association E-Money 2011 (& 1Q 2012): New Stage and New Opportunities Victor Dostov President Not to be cited without proper reference
  2. 2. For payment system in England “Bloody  Sunday”  was  the  main  event  of  1125
  3. 3. Fight for Genuine Money In 1125 Henry I summoned the mint-men who had to prove their integrity. Not  all  kept  their  limbs…
  4. 4. Customs became softer in 2011: Law  “On  National  Payment  System”
  5. 5. 29 September 2011 • Coming into force 29 September 2011 • All Operators to become credit institutions 30 June 2012 • Registration of Payment system Operators • Processing centers to become domestic 29 December 2012 • Payments are subject to chargebacks
  6. 6. 1. Trends and Developments 2. Figures
  7. 7. Law  “On  National  Payment  System” Next important date is 29 September 2012. Text is satisfactory, yet it still has technical ambiguities and few errors Scope of regulation turned out to be wider than expected: integrators, exchange services, gift certificates, etc.
  8. 8. Law  “On  National  Payment  System” First results are positive: big players and foreign businesses are coming to the market. Some legal arrangements were formalised. Coming into force is gradual Long-term  costs  of  ‘banking’  regulation  is  yet  unclear.
  9. 9. Law  “On  National  Payment  System” Audit of banking regulation Review of Regulation on cashless settlements, Regulation on issuing bank cards and transaction made with payment cards, Requirements on service continuity Since 2013: Payment System Operators, unconditioned chargebacks
  10. 10. Latest debates: - Future of the pre-paid cards
  11. 11. 1. Simplified CDD • Non face-to-face CDD is long overdue 2. CDD performed by agents • Applicable for certain type of transaction 3. Thresholds • Threshold of 15 000 RUR is extended to e-money and similar products. 4. New FATF Recommendations (February 2012) 5. Working Group on simplified CDD in AML/CFT Authority Customer Due Diligence 2.0
  12. 12. What did we expect? E-Purses volume, bln. RUR: 40 →    70 →    140(?) 2009 2010 2011 (forecast)
  13. 13. What happened? • Lots of developments – from soaring growth in mobile commerce to payments for state services
  14. 14. Top-ups, bln. RUR 70  →  125 Results of 2011
  15. 15. Number of active wallets, mln. 30  →  34 Results of 2011
  16. 16. What do Customers pay for?
  17. 17. Number of payments Online games, entertainment, social networks, lotteries (38%) Professional Web- services (3%) Telecoms: Internet and mobile accounts (36%) Financial instruments (11%) Digital goods and coupons (8%) Physical goods (1%) Payments to the budget (1%) Utilities and housing maintenance services (1%)
  18. 18. Value of payments Financial instruments (57%) Digital goods and coupons (7%) Professional Web- services (5%) Utilities and housing maintenance services (1%) Physical goods (1%) Payments to the budget (1%) Telecoms: Internet and mobile accounts (11%) Online games, entertainment, social networks, lotteries (17%)
  19. 19. Not to be cited without proper reference. For more information on reproduction rights or other inquiries, please, contact: shoust@npaed.ru

×