What is electronic money. The best payment systems, electronic money and cryptocurrencies

Everything in this world is constantly changing, and of course money changes. People are gradually switching to electronic currency. But not everyone knows what electronic money is and how to use it. Many people think that electronic money is ordinary paper money that is simply used to pay for Internet services. In fact, electronic money is virtual, conventionally invented banknotes that have the force of real paper money.

Where does electronic money come from?
Like any money, electronic money needs to be earned. The Internet is an unlimited source of earning electronic real money. Everyone earns their money in their own way, someone writes articles to order, someone plays poker, someone sells shampoo or candles, someone plays on the stock exchange.

What can you buy with electronic money?
Almost everything. On the Internet you can buy a house, apartment, car, or just a pack of pasta with home delivery. If we talk about the Russian-language Internet, then we mainly use electronic money buy electronic equipment, cell phones, books, jewelry and cosmetics. In the West, many people have stopped going to regular stores altogether. Since it is more convenient to buy in virtual stores than in regular ones. A person simply goes to the website of the store he needs, searches for the required product, compares prices with other stores, and then orders home delivery. The convenience is that, firstly, a person saves his time. For example, you can choose a sofa during your lunch break, after work, by this time, the sofa will have already been delivered to the buyer’s home, and you can already relax on the new furniture.
Secondly, no one puts pressure on the buyer or tries to push him an unnecessary product. That is, no sales consultant will get on your nerves with his attempts to sell stale goods. Thirdly, any product, even a handkerchief, can be ordered for home delivery. In the USA, for example, many electronic stores offer free delivery throughout the country. In our electronic stores, it is very expensive. The delivery cost consists of the weight of the goods, the commission for work and the distance to the buyer. So, for example, if you buy the cheapest shampoo on OZON.RU for 100 rubles, then its delivery, say, to Nizhny Novgorod, will cost 250 rubles. That is, 2.5 times more expensive than the product itself. Of course, if the owners of online stores do not figure out how to reduce delivery costs, then it is unlikely that online shopping will be in great demand in Russia.

How to use electronic money?
There are special computer programs for working with electronic money. The program is very popular in Russia WEB MONEY. The so-called e-wallet download from the site of the same name, install on your home computer, create wallets in the desired currency (rubles, dollars, euros, etc.), and then you can use your money. The program is easy to use, although it has security flaws cash.

How to convert electronic money into real rubles.
In order to convert electronic currency into paper currency, you need to come to the exchange office with your passport, having previously sent electronic payment and your secret password for the exchange office wallet. At the exchange office, after you show your passport and indicate your secret password(you come up with this password and only you know it) the cashier will give you your legitimate real paper money, but will only charge a commission for services, approximately 4% of the amount.

Advantages of electronic money.
You can top up the balance of your cell phone with electronic money without leaving your home, and without any commission. You can use electronic money to pay for the Internet, utility bills, any goods that are sold in online stores. Electronic money saves time, and sometimes some online stores offer discounts when paying with electronic money.

Economists believe that electronic money is the future. Since they are the ones that allow us to avoid queues at the bank, at the post office, in the store, and therefore save the most precious thing - our time.

Most active Internet users use electronic money to pay for goods and services online. Payments using electronic money are instant, and they are a good alternative to bank cards and accounts. Most novice Internet users have heard about electronic money, but have a very superficial understanding of it. However, as you master the computer and the World Wide Web, sooner or later, a moment will arise when you need to make a payment online.

In this article we will talk about what electronic money is, the history of its origin, how to start it, its advantages and disadvantages.

Electronic money (or in other words, virtual money) cannot be touched or put in a wallet, but it has the same value as physical money. And this is not surprising, because... In order for you to have electronic money on the Internet, you need to add real banknotes there to exchange for an electronic equivalent or receive them from someone by transfer, who in turn also deposited real banknotes, i.e. Electronic money on the Internet does not appear out of nowhere like in a fairy tale.

Virtual funds can be compared to a bank card to which your salary was transferred. You cannot touch the money, but you can pay with it or transfer it from card to card using online banking via a computer or smartphone.

To accept, store and make payments with virtual money, you must have an account in a payment system that handles electronic money. There are a large number of payment systems on the Internet, both foreign and Russian. They do not issue money like the Central Bank, but simply provide operational services for a small commission percentage.

Here is a small list of what you can pay with virtual funds:

goods and their delivery in online stores;
mobile communications;
buy tickets;
book hotel rooms;
pay for housing and communal services;
pay fines.

And in general, any goods or services sold via the Internet can be paid for with electronic money.

History of electronic money

The official history of electronic money dates back to 1993, when European central banks drew attention to the growth of electronic payments on the Internet and initiated a study of this phenomenon. In 1994, according to the results of the study, electronic financial transactions online. And since 1996, the central banks of the Big Ten countries began to carry out financial monitoring of electronic money in countries with a developed Internet.

On the territory of Russia, electronic money has been used for the first time since the mid-90s of the last century, gradually increasing turnover and actively developing. By 1998, the first electronic payment system (EPS) Webmoney appeared in Russia, carrying out transactions in all major currencies.

On at the moment The most common electronic payment systems in Russia are:

Yandex money.
Qiwi.
Webmoney

Payments from the above systems are accepted by all online stores in Russia

To pay for goods and services with electronic money, you need to open an account, or a so-called “wallet,” in one of the EPS (electronic payment systems) that you are going to use.

To create electronic money you must complete the following steps:

Register in the selected electronic payment system and receive an account number, the so-called “wallet”.
Identify yourself. Without personal identification, the use of EPS is possible only with restrictions.
Enter the required amount in real money into your wallet in any way (through a terminal, communication shops, online banking, from a bank card, etc.) that is available for this payment system.

Registration and further work should not cause any problems with your wallet, you just need to follow step by step instructions payment system.

Advantages of electronic money

The main advantages of electronic money are:

Instant payment for goods and services at any time of the day using a computer or smartphone. Each payment system has an application for a mobile device.
Quick transfer of funds to relatives and friends.
Quick replenishment of your wallet with a minimal commission or no commission at all, depending on the replenishment method.
Easy to use and create an account.
All popular payment systems issue virtual or real map, from which you can make payments online without fear of exposing your main salary or credit card. And in the case of receiving a physical plastic card from the payment system, you can pay with it in ordinary stores or withdraw money from it that was transferred to you in the system.

Disadvantages of electronic money

Along with undeniable advantages virtual money also has a number of disadvantages.

Commission when withdrawing funds from your wallet to your bank account or card.
Commission for withdrawing electronic money from a payment system card.
If you lose your password, you lose access to your wallet, which will be difficult to recover.
It is possible that the wallet could be hacked by attackers and therefore lose money.

Do not forget about the payment system, and also do not allow your password to become known to anyone, otherwise you may lose all the funds in your electronic wallet. When registering a wallet, come up with one that will be impossible to match.

In addition, despite the serious measures taken by payment systems to protect user funds, the possibility of wallet hacking cannot be completely ruled out. Therefore, do not constantly store large amounts in your EPS account.

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Hello! Igor Zuevich is in touch, and today we’ll talk about money on the Internet. No, not about how to earn it, but about what electronic money is and how to use it.

It cannot be considered as a way to preserve accumulated funds. Payment systems will not pay you interest, and your money is subject to certain risks.

To date, the activities of payment systems are not fully regulated by law. If you lose money, you can sue the company founder and recover the lost amounts from him.

But you won’t be able to receive compensation from the state; it can only be paid in the event of loss of bank deposits.

Which payment system to choose?

In order to use virtual funds, you must select a payment system. It's not difficult at all.

The electronic payment system is selected taking into account the following criteria:

Convenient and simple interface for the user;
Possibility of round-the-clock replenishment of the wallet and withdrawal of funds to bank card;
Some experience in the functioning of the payment system on the Internet market;
The popularity of the payment system on the Internet, is it used for payments in which you plan to order goods;
High degree of protection against unauthorized use of funds in the electronic wallet by third parties.

Popular payment systems

The most popular electronic payment systems on the Internet are:

Webmoney- has a high degree of protection. Allows you to pay for goods and services via the Internet, ensuring the security of payments. For people far from the Internet, the system is difficult to understand. Unfortunately, there are interruptions in the system, and sometimes you will have to wait. Be prepared for the fact that almost every expense transaction is accompanied by a commission;

Yandex.money will allow you to instantly implement money transfers, pay for purchases. The system has low commissions for transactions, which gives it an advantage over its competitors. The disadvantage of the system is the very expensive withdrawal of funds;

Qiwi, CyberPlat, RBK Money less common among Runet users. Each system has advantages and disadvantages, which you can learn about by becoming a user of the system. We recommend trusting your money to market leaders.

PayPal the largest electronic payment system, which is gradually gaining popularity in RuNet. Only a month ago it became possible to withdraw funds to a card account opened in a Russian bank, although the payment acceptance function has been available to Russian users for two years, since 2011.

You can open currency or ruble electronic wallets. The exchange between virtual money vaults is simplified as much as possible and takes no more than 5 minutes.

How not to make a mistake when choosing an electronic money system?

Disadvantages electronic wallets Today the risks are quite high.

You may encounter the following risks when using electronic money:

Financial losses. May occur in case of transfer of identification data or interception of SMS passwords. Bankruptcy of the payment system can also trigger loss of funds;
Impossibility of payment at a specific point in time;
Lack of legislation regulating the activities of payment systems;
Holes in the security system of electronic wallets open up opportunities for advanced hackers to steal your money;
Additional costs associated with the payment of commissions;
The difficulty of restoring access to an electronic wallet due to its loss.

But, despite the shortcomings as such, you will appreciate the benefits of using electronic money.

How to top up your online wallet?

Deposit money into your virtual wallet you can do it in two main ways:

Cash through payment terminals;
In cash or non-cash through banking institutions.

Withdrawal of funds from electronic wallet

If you need to turn electronic money into real money, you can use special services. About 10 sites work with each payment system. So, for example, to withdraw funds from WebMoney, you can use the wmtocard or inchange services. The commission for transferring money to a plastic card can range from 2 to 5 percent. All calculations are made within 5 minutes.

Benefits of electronic wallets

Very often you can hear the question: “what are the benefits of electronic money?” The main benefit is the efficiency and ease of payments. Although, some advanced users manage to make money by exchanging electronic money between various types wallets and payment systems.

Mutual aid societies also appear on the RuNet, the purpose of which is to provide borrowed funds to other participants in the system for a certain fee.

Electronic payment systems in Russia provide alternative sources of payments. Many financiers argue that in the future electronic money will replace real money.

Whether this is so, we will find out after a while, but for now we carefully select a payment system and join modern systems calculation. When making payments, we pay attention to security; we do not store passwords in wallets and passports.

As you can see, if you generally know how everything related to electronic money works, then using it in your calculations via the Internet will not be difficult at all. As always, the main thing is to act correctly and you will succeed. It is better to act together and under the supervision of those people who already have experience and results. Come to our programs and earn more at the same time!

With you,
- Igor Zuevich.

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Term electronic money(and also electronic cash, or digital cash) refers to transactions of funds carried out through electronic communications. Electronic money can be a debit or a credit. Digital cash can be a form of currency, and to start using it, you need to convert some amount of regular money into digital money. This conversion is similar to purchasing foreign currency.

Electronic money:

are not money, but are either checks or gift certificates, or other similar means of payment (depending on the legal model of the system and legal restrictions).
can be issued by banks, non-profit organizations, or other organizations.

The fundamental difference between electronic money and ordinary non-cash funds: electronic money is a means of payment issued by an organization (money surrogate), while ordinary money (cash or non-cash) is issued by the central state bank of a particular country.

The term electronic money is often used inaccurately to refer to a wide range of payment instruments based on innovative technical solutions in the field of retail payments.

Digital Cash

Digital cash is electronic money that will be issued by the states themselves.

Market of electronic money systems in Russia

2012: Yandex.Money rules the market

2011: Law 161-FZ "On the national payment system"

On September 29, 2011, Federal Law No. 161-FZ “On the National Payment System” of June 27, 2011 became key for the industry, which established the definition of electronic money (EMF) and established key requirements for the transfer of EMF, as well as electronic money operators. If earlier activities were regulated by many laws and individual articles in various laws, then the law “On the National Payment System” has become a single regulatory document for the entire electronic payment industry.

2012

The identification system for users of electronic wallets can be tightened. This was stated in November 2012 by the head of the Bureau of Special Technical Events (BSTM) of the Russian Ministry of Internal Affairs, Alexey Moshkov. According to Alexey Moshkov, the use of anonymous payment systems greatly facilitates the activities of fraudsters, since in some cases the personification of the holder of a virtual wallet is difficult or impossible.

“Criminals use anonymous payment systems to collect and cash out funds, distribute and confuse financial flows. In addition, such virtual wallets are used for the anonymous purchase of prohibited goods and internal payments between members of criminal groups.”

Legal and economic status of electronic money

From a legal point of view, electronic money is a perpetual monetary obligation of the issuer to bearer in electronic form, the issue (issue) of which is carried out by the issuer both after receipt of funds in an amount not less than the volume of obligations assumed, and in the form of a loan provided. The circulation of electronic money is carried out by assigning the right of claim to the issuer and gives rise to the latter’s obligations to fulfill monetary obligations in the amount presented by electronic money. Accounting for monetary obligations is carried out electronically on a special device. In terms of their material form, electronic money represents information in electronic form that is at the disposal of the owner and stored on a special device, usually a hard drive. personal computer or microprocessor card, and which can be transferred from one device to another using telecommunication lines and other electronic means transmission of information.

In an economic sense, electronic money is a payment instrument that, depending on the implementation scheme, has the properties of both traditional cash and traditional payment instruments (bank cards, checks, etc.): similar to cash is the ability to make payments without banking system, with traditional payment instruments - the ability to make cashless payments through accounts opened with credit institutions.

Types and classification of electronic money

There are 2 types of electronic money:

Issued in electronic form payment certificates or checks. These certificates have a specific denomination, are stored in encrypted form, and are signed with the electronic signature of the issuer. During settlements, certificates are transferred from one participant in the system to another, while the transfer itself may occur outside the framework of the issuer’s payment system.
Entries on current account system participant. Calculations are made by debiting a certain number of payment units from one account and depositing them into another account within the payment system of the electronic money issuer.

Electronic money schemes:

which implement technology for transferring information electronically about monetary obligations issuer from the device of one holder to the device of another holder. These include Mondex (developed by Mondex International, owned 51% by MasterCard and 49% by the largest banks and financial institutions around the world) and the eCash network product from Digicash.

Among the world's well-known electronic money operators are:

Unlike ordinary non-cash money, electronic money

Most Internet users actively use virtual payment systems. Electronic money is suitable for instant payment transactions in the system from your wallet and replaces bank cards or accounts for many. There are a large number of Russian and foreign online systems, with which you can easily pay for purchases, receive transfers, etc. Before you start using virtual money, it is worth studying in detail the features of different services.

What is electronic money

Not every Russian is familiar with the concept of virtual money and the possibilities for using it. It is worth noting that this type of replacement of rubles or foreign currency differs from coins and banknotes in that their owner stores them on a separate “virtual” resource. Electronic money is the obligations that the issuing organization undertakes in the form of funds at the user’s disposal, stored on an online resource. This segment is part of the virtual payment systems market.

The definition refers to a transaction carried out through digital communications. The user's virtual money can be a debit or a credit. They are not traditional money in a common currency, but are means of payment, certificates or checks (this may depend on the rules of the law and the specific EPS). The functions of settlement instruments do not differ from coins or banknotes issued by the Central Bank.

Characteristic

Modern monetary systems perceive such means of payment as money that is not subject to exchange, has a credit basis, is used for settlements, circulation, accumulation, and has a certain level of reliability. Virtual money has the following characteristics:

fixed cost within the EPS;
the ability to use for various payment transactions, which are considered final after implementation.

Properties

Virtual money has properties based on traditional and relatively new ones:

portability;
liquidity;
divisibility;
versatility;
durability;
convenience;
anonymity;
safety.

Story

The phenomenon of virtual money began to be studied by financial organizations since 1993. Initially, prepaid plastic cards were considered electronic means of payment. As a result of the analysis, virtual cash acquired legal status in 1994. While studying the technological schemes for using prepaid cards, banks decided that the spread of such payment systems would require constant monitoring of their development and changes. This is necessary to maintain the integrity of the products.

Since 1993, the active development of virtual money began, not only based on smart cards, but also based on networks. Three years later, European central banks decided to monitor EPS different countries peace. After this, analyzing the development of virtual money became a traditional process. Initially, monitoring data was confidential, but since 2000 it has been opened general access. At the moment, residents of 37 countries constantly or periodically use virtual money.

Digital money in Russia

On the territory of the Russian Federation for 13 years, online money has developed from magnetic plastic cards, which were issued by individual organizations, up to global internet systems Already in 1993, Russians began to use the first similar funds. The first mentions in the press of money based on smart cards date back to approximately the same period. Until 1999, payment systems were actively developing, displacing banking products from the market. In the 2000s, network-based electronic money began to be used.

Types of electronic money

As a rule, the following classifications apply to any virtual money:

Access method: smart card/network based.
Access level: anonymous/personalized.
Government influence on digital money: fiat/non-fiat.

The most popular payment systems in Russia are:

Yandex Money;
MoneyMail;
QIWI;
Skrill (formerly MoneyBookers);
WebMoney;
Rapida;
RBK Money;
PayPal;
Mondex,
"One Wallet";
Z-Payment;
Liqpay;
NETELLER;
PayCash;
EasyPay.

Based on smart cards

This variety digital money are plastic media with a microprocessor on which is recorded the equivalent of the cost paid by the client to the original issuing organization in advance. Cards are issued by banks or non-banking organizations. Using plastic, the client can pay for purchases and services at all points of acceptance of such a payment instrument. Cards are issued multi-purpose or branded (telephone, for example). The tool is suitable for making a payment transaction or withdrawing funds through an ATM.

Among the variety of plastic cards, there are two types: debit (for storing one’s own funds, savings, payments) and credit (the owner of the plastic card spends money within a certain limit, which will then be required to be reimbursed to the issuing organization). A popular option for digital cash based on smart cards are products of the VisaCash and Mondex payment systems.

Network based

To use this cash option, the user needs to install a special program on their smartphone or computer. Money is suitable for purchases in online stores, virtual casinos, games and other transactions. They are multi-purpose and are accepted not only by issuing organizations, but also by other companies. Among the most famous network-based electronic payment systems are: Yandex.Money, Webmoney, Cybercash, Rupay. This type services have a high level of security.

Fiat and non-fiat money

There is another classification of virtual money. They are divided into fiat and non-fiat. The first type includes the monetary units of a specific country, expressed in the national currency. The issue, circulation, cashing and conversion of fiat money is ensured by state legislation. The second option is a currency issued by a non-state payment system. Government authorities of different countries control the issuance and circulation of non-fiat money to a certain extent. This option refers to a type of credit money.

Legal status

Since September 2011, electronic payment systems have been controlled federal law No. 161. It reflects all the requirements for issuing organizations and conducting monetary transactions. Previously, this industry was controlled by different laws, but with the entry into force of the draft “On the National Payment System”, it became a single document regulating the relations of the parties.

From a legal point of view, electronic money is a perpetual obligation of the issuer to users of payment systems. The issue of funds is carried out as a credit limit or amount of obligations. The circulation of virtual money is carried out by assigning the right of claim to the issuer. Accounting is carried out using a special software or electronic devices. As for the material form of virtual money, it represents information that is available to users around the clock.

The economic status of virtual money is a payment instrument that has the properties of traditional means or payment instruments, depending on the chosen method of implementation. With cash virtual currency united by the fact that users can carry out calculations without using banking systems. Electronic funds are similar to traditional payment instruments in that the client can transfer an amount or make a payment without opening an account with a financial institution.

Electronic money and forms of its use

As a rule, electronic funds are used in online business. They consider this payment instrument as one of the forms of market economy. Using virtual money, you can make payments between clients and companies, while avoiding large quantity unnecessary expenses or loss of time. Due to the technical component, electronic payments are carried out instantly, which distinguishes this method from banking transactions.

Internet payments

One of the reasons why Russians are starting to use electronic money systems is the ability to instantly make payments via the Internet. The service is available around the clock. You can send money to any other accounts using the details of organizations, individuals, other wallets, in the form of payments for housing and communal services or cellular communication and so on. All transactions are saved by the system and tracked. Instead of the traditional client signature, an electronic digital signature is used - the most reliable way protection of user funds.

Credit cards

Another option for using virtual funds is credit cards. Using a physical plastic medium, the owner of an electronic wallet can spend virtual savings when paying for purchases in supermarkets, hotels and anywhere where bank cards are accepted. However, in this case, it is important not to transfer personal data to third parties so as not to lose money. It is especially dangerous to save details of such cards in online stores.

ATMs

Quick service terminals and ATMs are another convenient way using your virtual savings. To receive cash, you need to issue a online map with bank details, but without physical media. It is issued instantly and allows you not only to receive cash through ATMs, but also to pay for purchases online. Using bank terminals, users can not only withdraw money from virtual wallets, but also replenish online accounts.

Bank checks

To get cash from financial institutions, you can consider using electronic savings such as issuing bank checks. There are several ways in this case:

Transfer of funds to a bank account with subsequent withdrawal.
Transfer of virtual savings to a bank that will exchange them for cash.
Sending electronic money using an international payment system with the possibility of receiving it at any bank.

How electronic payment systems work

Each system has its own operating principles. As a rule, the founders of such non-bank payment services introduce their digital currency (bitcoin, DigiCash, webmoney, letters of credit, certificates, E-Gold). The fact is that it is illegal to count electronic funds in rubles or dollars. In fact, users can only hope that the EPS cares about its reputation, because there are no legal guarantees at all.

The operating principles of different payment systems are similar. The founders issue their own currency, after which a cloud financial structure is organized, which includes the following:

Official Internet a portal through which transactions on user accounts and registration of new participants are carried out.
Electronic wallets with data on how much a specific client has.
Online terminals or gateways through which user wallets are replenished.
Some payment systems create their own network of ATMs or exchange offices.
It is imperative that the EPS must establish cooperation with a financial institution through which the conversion of real money into electronic money will be carried out.

Opening a wallet

To create online wallet, the user needs to fill out a form indicating personal information and phone number. It is worth noting that initially the client receives anonymous access to payments in the system, so passport data is often not checked. However, to move to more high level To gain access to all features of the system, you must pass identification. Additionally, you can link your bank card to your wallet. This option is not provided by the PayPal service, but the service is available in the Yandex.Money or WebMoney payment systems.

The procedure for using the electronic drive includes next steps:

Registration in the selected system.
Installing a special program on a PC (for example, WebMoney Keeper and others).
Creating a virtual wallet or several at once (currency analogues).
Account replenishment.

How to withdraw funds

If it is easy to carry out incoming and outgoing transactions with electronic wallets directly through the website, then cashing out existing money requires the help of a financial institution or the presence of an ATM. Withdrawal of funds is made to an account, card or mobile client according to details. In addition, the use of payment acceptance points is allowed. In this case, the user must transfer money to his wallet and receive a password for cashing out.

As a rule, to withdraw funds from an electronic wallet, a client needs:

Have an account in EPS.
Know how to use it correctly special programs.
Obtain a sufficient certificate in advance (for example, formal or personal; certain types exist for servicing legal entities).
Have the required amount in your account, taking into account the commission.

Cashing out

Modern users who do not know how to withdraw money from an electronic wallet can use one of the methods below:

Transfer through a financial institution with conversion into the equivalent of the desired currency if necessary.
Return of unused funds through EPS.
Translation legal entity physical.
A standing payment order issued by the issuing organization.
Through the guarantee.ru service.
Send an instant transfer to yourself / another person.
Using exchange offices.

Advantages and Disadvantages

The use of online systems has its advantages and disadvantages. Before you open a virtual wallet, you should familiarize yourself with them. Among the most important advantages are the following:

the ability to make payments around the clock from any country in the world;
instant transactions;
ease of use of systems;
no need to stand in lines;
high degree of protection against counterfeiting;
portability of virtual money;
no risk of loss appearance banknotes for long-term storage of savings;
complete absence of the human factor (all payments reach the addressee).

Among the disadvantages of using EPS, it is worth noting the following:

there are commissions for transactions;
there is a risk of wallet hacking and theft of savings;
loss of funds due to loss of data for authorization in the system;
lack of control over the activities of the EPS by state services.