Electronic payment system Perfect Money. General information
Having got used to the system of credit cards, we received such a technical novelty as electronic payment systems. Now on the market of electronic finances there is a big amount of companies, one of them is Perfect Money. Electronic currency is an improved variant of credit card, where instead of cash dispense one use home computer or laptop and instead of credit card – certificate files or at least login and password (it depends on payment system). To determine what “electronic money” is, we will cite Artem Genkin, the doctor of Russian Federation government financial academy, the author of the book “Private money: history and modernity”. Electronic money, as he consider, is some kind of information transferring by different ways of electronic communication and which is used like denominations and coins in payments as in Internet, as offline. There are several synonyms – “digital money”, digital currency”, “electronic currency” and so on. Such companies as Perfect Money provide its electronic money with some advantages in comparing with traditional money. Transfers and payments in electronic payment systems have such features as instantaneousness (it takes only several seconds), anonymity (but not in all systems), rather small commission (like in usual banks), security (it is very difficult or even impossible to forge electronic money in spite of usual currency), partition (any amount bigger than determine minimum of an e-system can be divided into several parts). And still despite of obvious perspectives there is no in Russia any legislative rules for electronic money companies like for example Perfect Money. Until now one will not be able to find any mention about them in domestic laws. In this case electronic currency has not determined status. And until there would not be any clearness in this question, electronic payment systems on our market will have to look for such work methods which would satisfier all modern laws and standards and could be explained by traditional legal terms.
Perfect Money work principles are similar to methods of using credits cards:
- To fill up one’s account it is necessary to go to a bank irrespective of what one will use credit card or electronic account. But electronic accounts can be filled up by pre-paid cards, post transfers or in office of a company created this or that system.
- Using electronic account, like besides with credit cards too, one can receive money from other clients of a system. For this one must transfer money from one card and/or electronic account to another. Double sided transfers like card-account, account-account are also possible.
- To get cash from an account is as easy as from usual card. One can send it to his/her card and get it in nearest cash dispense, send it by post transfer or using Western Union.
- Both services are on the same security level. A credit card user is a potential victim of criminals who “work” near cash dispenses. And if one uses electronic payment systems there is a risk to be plundered by virtual thief.
- To manage common account or e-money account one use special terminals: for credit card is it cash dispenses and for on-line currency it are some computer programs. Cash dispenses are easy in use and computers are comfortable. So electronic currency differs not so much from credit card and it is more comfortable in use – cash dispense is at home. But this cash dispense is only single-sided and to get cash one would go to a bank or office. Ad on the other hand usual cash dispenses can not transfer money from one card to another, to make this transfer one need to go to a bank. One will have to do it until computer systems will be allowed to make money emission. Payment system market in our country consists of several big companies. These systems’ structures differ and that is why they get profit from different resources. Speaking about Perfect Money we can say that soon it will be among the best companies in this sphere.
