Trends in the development of Perfect Money payment system
Author: admin | Filed under: FinanceIn Western scientific literature the idea of “electronic money” or “electronic cash” was brought up by David Choum (Doctor of Science, University of California at Berkeley) in the late 1970’s, when there were first digital signature systems and digital mails on the basis of information security systems with two types of keys – public and individual.
Since 2006, Perfect Money as the representative of electronic commerce has being developed and now it plays big role in this sphere. The number of services and products that one can pay using electronic payment systems increases very quickly. This has led to a large number of different payment systems, some of them do not exist any more and others become more popular (and Perfect Money is among such companies).
The time of Russian payment systems’ birth one can consider the beginning of 1998. It was 1998, when payment system Pay Cash appeared on the market of money transfer in Russia. About a year later the most popular and reliable payment system WebMoney of present time started its work.
In the middle of 2002, another very important event has happened: was made an agreement between the payment system PayCash and the largest search system of Russian Internet segment – Yandex. Due to this treatment a new universal payment system Yandex.Money was created.
The end of 2002 was marked by another important event – the occurrence of Russia – Ukraine’s payment system RUpay.
Finally in 2006 a system known as Perfect Money appeared on the market. From the first days of the existence it showed the seriousness of its intentions and plans and with each passing day the number of its customers only increases.
At the moment, the main prospects for the development of electronic money systems are mainly related to mobile commerce, local small payments, as well as integration into the universal personal financial services. In addition, promoting the electronic money to the market of the retail services provided by banks can also play an important role. Spreading of electronic currency usage is connected with different factors where some of them accelerate its development and other limit it. They influence on achievement of maximum effectiveness, including profitability, operationability, usage comfort, reliability and security. The factors affecting on e-currency systems’ development are connected on the one hand with the degree of interest of emitters, customers, and retail (services) firms which use electronic money and the other one hand – with special organization’s monitoring for development of such systems.
Following factors can be the main incentives of Perfect Money development: the level of income from fees collected from holders of electronic money and trade (service) firms for services related to providing an ability to make electronic money transfers; the level of income from investments which are the maintenance of electronic money.
However, one of the main factors is an ability of consumers and retail (service) companies to adopt a new paradigm in the field of retail payments based on new information technologies.
Another important factor determining the development of Perfect Money is connected with control of special organizations for the development of such send money online. Methods of these systems’ control differ greatly in USA and Europe, region where payment systems have the biggest development: in Europe there is rather strict control, in the USA – non-interference in the beginning, what weans self-regulation with rather good development of money market as basis. In this aspect Perfect Money has examples of development, because it is officially registered in Panama, but represented only by its office in Switzerland.
Summing up the discussion of trends in the development of Perfect Money, one can say that this company has good chances to become a world leader.
Tags: money, money transfer
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