Electronic means of payment is a modern technology that allows you to pay for goods and services without using cash. Electronic wallets and bank cards are the most common types of ESP. What are electronic means of payment and what applies to them, we will describe below.
Bank cards
There are three main types of bank cards - credit, debit and prepaid. Access to a bank account that stores personal money or money issued by a bank on credit is provided either by debit or credit cards.
A prepaid card is essentially an electronic wallet. You can use it without opening a bank account. Prepaid cards are issued by credit institutions, which is different from bonus and gift cards issued by gas stations or shops.
The share of payments using electronic means of payment is increasing from year to year: in 2009, out of 100 payments, only 21 were made using bankcards, for 2017 - already 71 payments.
Electronic wallets
Only a credit organization - an operator of electronic money is engaged in providing electronic wallets and making payments.
Electronic money is not placed in a deposit, no interest is accrued on their balance, they are not subject to insurance in accordance with the provisions of the law on deposit insurance. In addition, a credit institution does not have the right to provide its customers with electronic money on credit.
Electronic wallets allow not only to store money, but also to make payments, pay for services and goods, withdraw money in cash or to a bank account. Settlements by electronic means of payment are made instantly; most systems carry out settlements in different currencies.
How to start an electronic wallet: choosing an EMF
Registration of an electronic wallet is carried out in several stages. The first is the choice of an electronic money operator. The list of operating EMF operators is presented on the website of the Bank of Russia.
The EMF operator is obliged to provide full information about tariffs, terms of use and transfer of funds before concluding an agreement with the client.
The terms of the agreement are published on the website of the banking organization, the screens of payment terminals and ATMs. It is worth considering that the bank may regard certain actions as consent to the conclusion of an agreement. For example, the firsttransaction made with a prepaid card.
If the rules for using an electronic wallet are violated, the bank may suspend or completely stop using it.
Purposes of using the wallet
Select the currency for the electronic means of payment - it can be rubles or foreign currency.
Anonymous e-wallet is suitable for small expenses that do not require an identification procedure - the provision of identity documents. To register it, it is enough to indicate the minimum amount of data on the website of the credit institution. Such a wallet allows you to store only rubles and has a limit on the maximum withdrawal amount per month.
Non-personal wallets with simplified identification require a certain amount of information to be provided to the bank in exchange for enhanced usage.
A personalized wallet provides maximum opportunities: the maximum amount is 600 thousand rubles, there are no restrictions on transfers per month. To issue a personalized wallet, full identification is required and the provision of originals or copies of documents certified by a notary.
Rules for money transfer and withdrawal
If the owner of the electronic means of payment is an individual, then he can transfer funds to individual entrepreneurs, legal entities or individuals. The procedure is carried out in accordance with the establishedthe law limits and after passing the simplified identification. Transfers from legal entities to individuals can also be made in accordance with the limits specified in the law, but electronic money transfers to other legal entities are prohibited.
Withdrawal of finances using different types of electronic means of payment is also possible. Individuals can transfer currency to a bank account and receive cash. Legal entities can only withdraw to a bank account.
ESP Terms of Service
Rules for the use of electronic means of payment are regulated by the current legislation:
- ESP can be used by individuals, legal entities and individual entrepreneurs.
- Access to the ESP opens after the conclusion of an agreement with a credit institution.
- In case of violation of the terms of the public offer or agreement, the credit institution has the right to temporarily terminate the wallet or completely close it.
- A credit organization is obliged to inform the client about all transactions made using the ESP. The contract specifies how messages will be received.
- If you have problems with your e-wallet, you must report them to the credit institution within two days. If this has not been done, then the bank may refuse to return the funds. A credit institution that has not responded to customer reports of illegal payments is required to refund the full amount within 30 days after the application was submitted.
What iscorporate electronic means of payment
Electronic wallet is a means of payment provided by the operator without opening an account. The most popular are Qiwi, Yandex. Money, Webmoney. With the help of such wallets, you can pay with electronic money with counterparties.
When creating a corporate wallet, an agreement is concluded with an electronic money operator. The operator issues keys and an access code to the wallet. You can deposit and withdraw money only by contacting your bank account.
The closing or opening of a corporate wallet is reported to the tax office within 7 business days. If the owner of the electronic means of payment did not do this, then he faces a fine.
ESP assignment
The main purpose of electronic means of payment is the rapid transmission of payment instructions. ESPs greatly simplify the processing of information on banking transactions and reduce the cost of the procedure.
Other appointments can rightly be called benefits:
- Convenience. It is more convenient for the buyer to handle payment cards than with a large amount of cash. However, do not forget that the ESP does not have the official status of legal tender.
- A plastic card can act as a virtual store of funds.
- If the card is lost or stolen, the owner can save money by blocking it.
How to transfer money to Yandex. Money
Yandex. Money is one of the most popular electronic means of payment. There are several ways to replenish the wallet entered in the system:
- From bank cards of any credit institutions.
- From the balance of a mobile phone linked to the Yandex wallet.
- Through cash replenishment points in settlements.
- Via Internet banking, provided that the user is a client of the bank providing the service.
- Transfers by Russian Post, Unistream, CONTACT.
- From bank account.
- Via Qiwi or WebMoney systems.
- Processing loans in microfinance institutions.
Another option for replenishing a wallet in the Yandex. Money system is linking to a bank card and crediting money from it.
Future ESP
Providing services paid for using electronic means of payment is a profitable and very attractive line of business for credit and financial institutions. However, when using them, it is necessary to take into account various nuances that will help to avoid legal risks. But this is by no means the only reason why experts spend a lot of time analyzing the tracking and regulation of remittances. The shortcomings in the regulatory legal acts not only constrain, but also determine the further direction of development of individual payment instruments and systems. The importance of remittance regulation analysis is likely to increase in the near future.
In this regard, the key to the successful development of both the industry as a whole and each of its participants is the knowledge of the technical aspects,features and legal framework on the basis of which the use of electronic means of payment and the transfer of funds. Understanding all the nuances guarantees the safety of the user's financial resources and the correctness of the transfers.
