In the opinion of many experts, electronic money and payments with the use of it is one of the most topical subjects in modern business. In a short perspective, they can considerably change the system of payments in the world.
The keynote subject of the current conference is the focus of attention of the world’s online business. However with regard to a number of directions, there are more questions than answers. The key factors determining the growth of this market segment, in the opinion of experts, are the development of technologies and the formation of a harmonious legal environment.
As Alexei Kolychev, Commercial Director of the eCom21 partner QIWI Group, notes, “At present, the e-commerce market is one of the most interesting industries from the viewpoint of development prospects. The modern world requires simplicity and safety of payments from financial services that allow the payer not to bother about the technical side of payment processes: the source and sufficiency of funds, regularity of payments, lending. The solution to this task is tackled by many companies from different sectors of the market, and hence new technologies regularly appear. However, they are not allow talk of it being a considerable technological breakthrough.
In the opinion of Mr Kolychev, the current increasing popularity of electronic money is causing optimism regarding the future of this industry, “Owing to the increase in penetration of broadband internet and the appearance of a big number of inexpensive smartphones, e-commerce in general, and electronic wallets as a payment method in particular, receive wide-scale recognition. Undoubtedly, user training programmes are required and this is primarily related to the general financial awareness of the population. But the growing life standards of a modern man stimulate industry development, make offline companies open their representative offices online and appeal to legislators to more thoroughly elaborate a legislative base for its regulation.”
The insufficient level of technological development is also regarded as one of the most significant impediments by Victor Stepanov, Technical Director of RBK Money, who will make a report at eCom21.
“At present there are no technologies allowing electronic money to be used sufficiently flexibly for exchange and payments. Likewise, there is no uniform payment card where different electronic money, as well as dollars and euros, can be kept. As soon as tools appear that allow electronic money to be converted into any other means of payment easily, a breakthrough in the industry development will take place.”
Alexei Kolychev from QIWI Group highly evaluates the Riga conference on e-commerce, “eCom21 is an excellent platform for communicating with colleagues and partners, discussing cases and developing joint solutions. At present the topical tasks of the industry are the creation of maximally convenient services of connection and interaction by means of payment systems of suppliers and clients. How can electronic means of payment be integrated into a platform of an online store maximally fast and conveniently? How can regular payments be simplified for the user, while at the same time be made transparent for the supplier?”
These and other topical issues of electronic money development and usage will be discussed at the eCom21 conference in Riga on 13-14 November. The conference organiser is Rietumu Bank. The general partner of the forum is ECommPay – international provider of payment solutions.
Eleonora Gailisha Mass Media and Public Relations
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