Pay Ring company took part in the creative business Forum
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Anonymous electronic wallets have been banned from replenishing with cash in Russia
Amendments to the law "On the national payment system" entered into force in Russia. Now, if the person who is replenishing a wallet has not been identified, the transaction will be possible only from the bank account. The restrictions also made it impossible to replenish transport cards with cash where they are implemented in the form of an electronic wallet. However, officiaries assure that most of the users will not notice this restriction. read
"Square" payment service revenue from bitcoin transactions grew to 600%
Payment service "Square Inc" reported that at the second quarter the company's revenue was 1.92 billion $, which is 64% more than a year earlier. The company noted that its Cash App for money transfers showed an increase for 167% till 281 million $. Proceeds in bitcoin operations was 875 million $ in the second quarter. read
Citizens have invested over 1.7 trillion roubles into the stock market in the first half of the year
According to the National association of stock market participants (NASMP), the volume of funds received from citizens to brokerage accounts during the first six months of 2020 amounted to about 1.5 trillion roubles, including 50 billion roubles on individual brokerage investment. Most of the clients (75%) came to the stock market through distance channels. read
Banks launch money transfers from companies to citizens by phone number
The first b2c-operation was carried out by the "Russian Standard" Bank and VTB, which transferred borrowed funds from the micro-finance organisation "Mikroklad" to its clients. The new function can be used for any type of transfers from companies to individuals. For a b2c transfer, the client does not need complex details, it is enough to tell the mobile phone number to which his account is connected in the bank that is a member of the FPS. read