Money of Online
QIWI Bank - 49%
Money of Online — one of market leaders of electronic trading in Russia and the CIS. Using service Money of Online any company doing business on the Internet (online store, an online game or other Internet service) can quickly adjust receiving any payments from users within one agreement. The client pays through that payment system to which he got used, and the company receives money for the account on the diagram, convenient for it. Everything, Money of Online is included by more than 60 payment methods for clients. At the moment Money of Online is connected to service more than 2000 online projects, including such companies as Kassir.ru, Vigoda.ru, Avito.ru, Wargaming.net, RuTaobao.com and many others.
Our command services more than 2000 online stores, online games and the Internet of services. The company achieved carrying out for the partners about 20 million financial transactions monthly.
The aggregator Money of Online underwent certification of Payment Card Industry Data Security Standard (PCI DSS) and conforms to the standards of security of the industry of payment cards founded by international payment systems of Visa, MasterCard, American Express, JCB and Discover.
The structure of the company contains 9 divisions working in such countries as Russia, Ukraine, Belarus, Kazakhstan, Georgia, Moldova, Romania, Cyprus and BVO. The company continues to develop actively and plans opening of representations and in other countries.
For 2012 the company doubled the turnovers, increased the customer base by 70% of percent and signed agreements with more than 20 new Russian and international payment systems. Growth of turnovers of the company considerably outstripped growth of the market which in 2012 grew by 26%. The company opened the representation in the USA and began to cooperate with such international payment systems as PayPal, EcoCard, SafetyPay, WireCard Bank, Boleto and others. The company aims to provide to the clients the most wide choice of payment services.
Specialists Money of Online in 2012 developed the new bilateral integration solution for the companies which are engaged in e-commerce – GSG (Global Service Gateway). Using the product GSG payment systems can connect tens of thousands of service providers through a uniform payment gateway. The new solution allows payment systems which are partners of Dengm Online company, to accept payments not only from the users, but also through other payment systems worldwide.
For 2012 the Money of Online company became the payment service provider for such known companies as the broker FOREX MMCIS, network of sports clubs Fitness House, the cosmetic brand of Faberlic, KupiVIP online store, the website of discounts "Выгода.ру", the exchange of remote work Free-lance.ru, the largest publisher of computer games of Buk, large Russian hosting provider Majordomo, the portal about employment of Rosrabot, social network "Fotostrana" and many others.
In 2012 Qiwi acquired 49% of shares " money.online " for $2 million. Then the option for the redemption of the remained 51% was concluded. This transaction can take place in the second half of 2017. The price of a controlling stake of target company will be determined as 51% of a sevenfold indicator of EBITDA (a profit before taxes, percent on the credits and depreciation expenses) which will receive " money.online " for the financial year which is coming to an end on April 1, 2017.
But, according to the forecast business plan " money.online " both at the time of purchase, and for current date, the Qiwi estimates fair value of the option which is available for it at zero and classifies it as "out of money". So the realization value of the option will acquire a controlling stake above its fair assessment, and therefore economic sense is not present. Besides, this company has a risk of receiving tax claims, and on the matter there can be a negative outcome, said in documents of Qiwi.
Aggregators like " money.online " significantly facilitate activity of small Internet sellers, explains a source in the e-commerce market. If connection to such payment systems as Chronopay, "Assist" and Cyberplat demands from online stores of opening of the special account and takes a lot of time, then the aggregator itself is connected to the above-mentioned systems, registering shops into the account.
Before Visa and MasterCard were skeptical about activity of aggregators, but now they permitted them to work, though exposed for this purpose a number of restrictions. According to the interlocutor of CNews, in work about " money.online " Bank of Moscow revealed violation of one of such restrictions: the payment fact for benefit of Internet casino was detected. At the same time the Chronopay system via which " money.online " it is connected to Bank of Moscow supported bank in the matter.