At the moment, progress has stepped far. Settlements have long been made not only in cash, but also by card, as well as online through electronic payment systems. The list of these services is regularly updated.
Currently, online investments and payments are developed, which cannot do without electronic money. During the birth of e-commerce (early 90s), it became clear that traditional financial products were not suitable for electronic payments. This is how the existing online payment systems appeared. The list and features of each of them are presented below.
Working principle
Such systems function differently. Basically, the founders of such services create their own electronic currency. They call them original, since it is illegal to use "money" in the name. However, it is important to understand that beautiful terms indicate the absence of any financial guarantees and deposit insurance.
Everything is on the conscience of the founders who value their reputation. In fact, this is a portal where participants register and transactions are carried out. Each depositor has a personal account and an electronica wallet that records the amount of money in his account.
Some services even have their own exchange offices for issuing cash.
Advantages and disadvantages
Electronic payment systems have a considerable list of advantages.
- Instant transactions (transfer of funds, payment for online purchases, conversion).
- Low fees (due to high competition).
- Anonymity (a big plus for those who work semi-legally).
- Funds can be transferred to any bank account.
- More secure (than cash).
- Very handy for remote workers to get paid.
- Ability to pay utility bills, telephone, Internet.
Payment systems also have a list of shortcomings.
- The main drawback is that the accounts are not completely legal.
- Not all purchases can be paid for with electronic money.
- The cash-to-cash service is expensive.
- Due to the lack of legal control, you can often encounter scammers (on free hosting, such sites are created in 5 minutes, so you should check the service for authenticity).
To check the EPS for authenticity, it is enough to find out if large financial structures cooperate with this service (Sberbank of Russia, Alfa-Bank).
List of payment systems in Russia
Basicservices operating on the territory of the Russian Federation:
- "Yandex. Money" is one of the most popular settlement systems in Russia. It can be used to make many payments. In particular, payment for paid games and other Internet services, utilities, telephone, purchases in online stores. It is also used for money transfers.
- Arsenal Pay is the payment system of the Primorsky Territory of the country. This is another reliable service for transferring funds and making payments. The service does not charge hidden fees.
- MIR (NSPK) is a Russian payment system founded by the Central Bank. The system guarantees the safety and absence of interruptions in work when conducting various financial transactions in Russia.
There are also other Russian and international payment systems listed below:
- WebMoney is the most popular international service. A separate guarantor works with different currencies. Users have a unique WMID number to use their personal account.
- PayPal is another worldwide system. Its feature: all calculations are made in real money.
- QIWI (QIWI) is the world leader among instant payment systems.
