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CYBERPLAT® payment system

Platina was among the first Russian Banks to practice the most advanced internet technologies. In March 1998, an information technology support system of cashless transactions for e-commerce with real money in real time - CyberPlat® - was introduced to the market of banking services. CyberPlat® has been working for 11 years to date and it is a smoothly running and debugged system. The main business line of the company today is organization of online payment acceptance for services of leading mobile providers. The dealer company receiving money from customers guarantees instant top-up of their personal accounts in the operator billing system. CyberCheck electronic documents circulation (interchange) technology, that is used during that process, is characterized not only by the highest speed (the duration of electronic payment process through the system is less than two seconds), but also high security which is guaranteed by the mandatory use of electronic digital signatures on both sides.

Optimization of expenses incurred upon services proceeds collection is becoming of vital importance for service providers as the customer base grows. CyberPlat® system allows making payment collection more efficient, therefore the number of companies using CyberPlat® has been dynamically growing throughout the entire period the company operates in the market.

Nowadays, CyberPlat® payment system has integrated payment gateways to more than 300 service providers including leading mobile and fixed-line communications operators, operators of satellite and cable TV, housing and utilities companies, etc.

A novel payment method known as B2B (4C) was devised for transaction processing; this method combines the existing schemes of intercorporate Internet payments with electronic payments of individual customers. The significant advantage of this new technology is independence from payment acceptance mechanism. Payments may be made through:

  • Operator (dealer, for example), that uses Internet-connected computer and makes payments through the website of CyberPlat® payment system;
  • Cashier, using automated teller machines (for example, in a large retail chain store). In this case, the interaction with CyberPlat® payment system will be via the trading company's server;
  • ATMs, POS-terminals, special cash-in terminal or other hardware.

At the beginning of 2009, CyberPlat® payment acceptance network numbered more than 400,000 outlets. Among the contractors of CyberPlat® payment system are federal networks of mobile communications: "Euroset", "Svyaznoy", "ION", MTS monobrand network, "Ostrov" supermarkets network, "Eldorado" electronic stores, "Mir", "Beliy Veter", "Lukoil" petrol stations, "GazpromNeft", "Elecsnet" and Parnet" payment terminals network, as well as banks such as "Bank of Moscow", "Stroykreditbank", "Promsvyazbank", "SDM-bank", "Russian Agricultural Bank" ("Rosselkhozbank"), etc. Since autumn 2004, a joint payment acceptance project with Russian Post has been executed in its branches numbering about 40,000 locations all over the country. Currently, post offices accept payments in 58 regions of Russia.

Payment acceptance is beneficial for outlets because of the following reasons:

1. More customers, higher turnover
At present, in Russia the number of active mobile communication subscribers is higher than the number of fixed-line telephony subscribers which is equal 160.3 million people by the expert estimate. The number of subscribers is rapidly growing. Each of them has to top up their account every month. Providing payment services for mobile subscribers, a business will get more customers and increase its turnover by 10 or even 40 per cent.

2. Additional earnings
Trading companies get commission for each payment acceptance transaction. The commission fee is charged online. Establishing and maintaining accounts in Platina Bank are free.

3. Crediting against payment acceptance
To increase the payment acceptance turnover, Platina Bank - the settlement bank of CyberPlat® payment system - offers a revolving line of credit against cash payments at a soft lending rate.

4. Expanding the range of services - strengthening customer loyalty
Customers receive a quality service - online top-up of their personal accounts. Increased range of available services implies an increase in customer loyalty to the company. At the same time, the company does not bear any costs for the introduction of the new service.

Payments for provider services may now also be done using a special terminals network which was created by the Bank last year and which is developing dynamically. Speed, convenience and the ability to conduct 24/7 operations, regardless of operating hours of outlets, are among the main advantages of making payments via terminals.

Services associated with informational and technological support for payment acceptance are the part of the company's global strategy to develop secure electronic document interchange and electronic means of payment, including payments in the e-commerce field.

Participation in e-commerce provides advantages to both sides - the customer and the seller. Customers can buy any commodity or get any service, offered by millions of electronic shops and internet companies all over the world, without leaving their house and right from their home computer. They have almost unlimited choice of products and save their money, because they can find the desired product at the lowest price. Payments for services over the Internet can significantly save your time, because it eliminates the need to visit providers' offices. Companies that sell goods or services, receive the following benefits by transferring their business processes to the Internet:

  1. customer service costs are reduced significantly;
  2. there are possibilities for creating new forms of servicing;
  3. possibility of new forms of service emerge;
  4. payment process for goods and services is simplified for customers;
  5. “heavy customers” are attracted (the most well-to-do part of population who do not have time to travel to service company offices);
  6. customer loyalty to the company increases and new customers from rival companies are attracted;
  7. customer base is expanded by attracting clients from other cities, regions and countries.

Currently, there are four instruments in CyberPlat® payment system that really work and are applied in the Internet environment:

  • "Business-to-Business" solution, based on the use of secure document interchange;
  • "Internet Banking" solution – money orders – Bank-Client in the Internet;
  • "Business-to-Consumer" solution, based on the authorization of credit cards through the payment server;
  • Solutions for banks, allowing them to become the system’s partner and provide their customers with online payments services "Agent", "Financial Agent - Bank".

The secure document interchange scheme of CyberPlat® payment system is aimed at corporate customers and provides the possibility of organizing settlements with dealers, distributors and among regional offices of the company. The described payment scheme B2B (4C) and activities in organizing acceptance of payments to cellular operators are historically based on this technology.

CyberPlat® technology also includes elements of remote account management (Internet Banking). Clients registered in CyberPlat® and holding accounts in Platina Bank have the possibility to control their accounts over the Internet by receiving statements and creating orders for transfer of funds. CyberPlat® payment system guarantees that the person or organization that created a payment order or received an account statement is indeed the account holder. The Bank has been successfully applying this technology to automate the remote work of workstations and to organize their interaction with the Automated banking system via the Internet.

Solutions for participating banks include the use of secure document interchange to make purchases in Internet shops of CyberPlat® payment system from customers' accounts with participating banks. The safety of transmitted confidential information and user identification, while forming the payment order or viewing the account statement, are supported by the software that is provided to every customer free of charge. The payment server is used to pay for goods and services bought in Internet shops with the use of international and Russian plastic cards VISA, MasterCard, Diners Club, JCB, American Express, Union Card and etc.

There are more than 200 Internet shops connected to CyberPlat® payment system. These shops offer their customers more than 1.5 million items of goods. Among them are such popular Internet shops as: