User reviews, payment system information Pexpay
History. A system of electronic non-cash payments called Pexpay began work in 2013. It was developed and created by the Geobank Bank, which is part of the State Bank of Russia. In 2015, it reached a new level, having received the high status of a nationally significant system. Principle of operation. Pexpay functions like most similar financial instruments, providing transfers through instruments such as e-wallets and bank cards. The key difference is that these tools are created by any banks included in the number of participants. Given the state support for the system, and, therefore, certain guarantees, high reliability and benefits, the number of people wishing to join is constantly growing. The Pexpay structure is divided into three subsystems that are closely related. The first subsystem is engaged in the issuance of payment plastic cards and settlements through them. The second is the translation subsystem. In order to transfer funds, its clients, regardless of the form (individuals or legal entities), do not have to open and have accounts in banks included in the general structure. Finally, the last subsystem is responsible for electronic wallets in the cashless segment via the Internet. Benefits. Entering the Pexpay system, each new member receives tangible privileges, which are expressed not only in the issuance of new cards, but also in the provision of additional services to customers, respectively, in obtaining new profits. In addition, the cost of transactions is reduced in comparison with similar payment structures, which implies the ability to set lower tariffs for customer transactions. The simple structure, the absence of additional costs, as well as international status attract new participants.