PayCash

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2016-07-19 00:00:00:

The PayCash electronic payment service is the brainchild of three companies: the Aerodynamic Services Corporation, the Tavrichesky banking organization and the Alkor financial group.

With the help of a payment card, users can conduct fast, safe and profitable payment transactions. The system maintains the confidentiality of payments, however, in case of unforeseen or disputable situations, the fact of a transaction can be easily proved.

PayCash is based on the traditional technology of electronic cash, the author of which is David Chaum. Electronic cash (digital cash) is used for settlements on the Internet and is a coin or banknote that looks like a file. Virtual cash is issued by both banks and non-banking financial institutions.

The PayCash server allows you to carry out intra-system transactions, store money in a virtual account, exchange currencies, withdraw money to wallets opened in third-party services or to bank accounts, and more. Payment is characterized by a high degree of reliability and security.

As a result of various studies (social, financial), it was found that this Internet payment service occupies a leading position in the banking market of the planet. The year 2000 was marked by the fact that the payment system was awarded the National Intel Internet Prize. The company's activities were highly appreciated by Bruce Schneier, a professional in the field of monetary cryptography.

Enormous investments were made in the development of the service. To date, PayCash is expanding its geographical expansion: the services of the Russian server are used both in the states of the European Union and in the United States of America. The payment system also works in neighboring countries.

EPS is in partnership with large companies in various fields of activity: banks, TV channels and Internet providers, mobile operators, housing and communal services, and so on.

PayCash payment system: main features

The PayCash service has some features that other companies that offer electronic payment services cannot boast of.

Safety. Customers can be calm about the safety of their savings and personal data. The payment system uses stable cryptographic protocols, for example, RSA (they have a key length of more than 1020 bits). Such protective mechanisms as special signatures are also used - blind and electronic digital. They ensure the security of electronic accounts, private data, payment procedures.
Complete privacy. The confidentiality of users is ensured by the technology of "blind" signature. Outsiders will not be able to collect or analyze the personal and payment information of the owner of the electronic wallet.
High speed of transactions. During the day, about 150 thousand operations can go through the service even with very low computer power. Payments are made at lightning speed.
Electronic circulation of documents. This service allows you to expand the rights of customers. With its help, users can sign documents (contracts, contracts, and more) and exchange them on the server. Electronic digital signatures are used to sign agreements. Documents are stored in accounts.
Ease of use. Transactions in the PayCash payment system are fully automated. The account holder makes a minimum of effort to carry out banking operations. When working in the EPS will not require special education or special skills. All that a user should have is a computer device, access to the World Wide Web and an e-wallet (the program can be downloaded for free on the official website of the service).
Price availability. Accounts that were registered by individuals are discussed free of charge. Commission fees are quite acceptable for citizens of various categories. The service cost is also available for organizations: the commission for financial transactions will be only 1-2%.
Lossless payments. PayCash practices so-called micropayments without losses up to 0.001 kopecks. This allows the development of various areas of virtual trade.
Freedom of action with digital cash. Users of the system can dispose of electronic cash at their discretion. With cryptocurrencies, you can perform the following actions:

use electronic money without opening an account with a banking organization;
withdraw cash from a payment card and save it in an e-wallet on a home or work computer, or on a removable media;
pay with cryptocurrency for goods purchased in virtual stores;
provide loans to other users of the payment service;
carry out conversion operations;
make payments privately.

Uninterrupted work. In the event that the server fails or the Internet connection is interrupted during the payment transaction, none of the parties will suffer.
Multicurrency. The system supports a huge number of various currencies, including electronic payment units.
Multibanking. The service cooperates with most large financial institutions.
Interstate payments. Payment allows you to make payments between residents of different countries. This expands the opportunities for the development of a trading enterprise.

Service tariffs

To register with PayCash, people do not have to pay a penny (free registration is available for both ordinary users and businesses and organizations). You will also not have to pay a commission fee for replenishing your account (only the price for the services of the organization that carries out the transfer - the postal service or the bank).

When conducting a transaction, the amount of the commission fee will be 1-2% (the cost of the operation will depend on the technology of connecting an electronic wallet). The recipient pays the commission. Withdrawing money from the payment system also implies a commission fee (1%) + the price for the transfer from the agent organization.

Currency conversion

The PayCash service offers a wide range of digital cash conversion operations. There are several ways to buy e-currency:

from "live money" (carried out in the ground branches of the company);
from "live money" through a payment courier (can be called at home);
in branches of Sberbank and other financial organizations;
conversion by means of transfers through postal services or telegraph;
using scratch cards from EPS PayCash;
through transfers through various electronic payment systems.

You can exchange cryptocurrency for fiat money in the following way:

exchange for cash in the branches of the payment service;
exchange for cash by contacting the services of the PayCash courier service (a specialist can be called to your home);
money transfers through various banks;
using the services of the postal service;
through EPS;
by purchasing a bank debit card.

This electronic payment system cooperates with large Russian banking companies and processing centers. Together with them, PayCash is working on the creation and implementation of online gateways, thanks to which the payment system can be integrated with traditional financial technologies, including virtual banks. These gateways will help clients of processing and banking organizations to quickly carry out all kinds of procedures with their savings (instant deposit or withdrawal of money).

At the dawn of this century, the system began to offer services related to transactions between states. Account holders can freely transfer their money between countries such as the United States of America, Latvia, Ukraine, Russia. This service has already been connected by all large virtual trade enterprises.

PayCash electronic payment service partners

PayCash was created with the cooperation of several companies: Aerodynamic Equipment Corporation, Association for Economic Interaction, Academy of Regional Problems of Informatics and Management, and others.

Half of the assets of the company "Aerodynamic equipment" belongs to the state. The corporation is engaged in the sale of military equipment. In 2001, the company's management announced that it was going to invest in PayCash and transferred $10 million.

The American company Cyphermint, Inc. is also a partner of the payment service. Cooperation agreements have been signed with major banks and virtual money transfer services.