KoronaPay

2020: Start of service

On May 27, 2020 it became known of entry of Zolotaya Korona into the European market. For this purpose the Russian money transfer system started the KoronaPay service available in 31 countries  — in all European Union and also in Great Britain, Norway, Iceland and Liechtenstein.

Within service a transfer is made from  debit or  credit cards Visa, Mastercard and  Maestro which are released European banks. By May 27, 2020 only transfers in euro are implemented, it is in the future going to add pounds sterling, U.S. dollars, rubles and also currencies of the European countries and the CIS.

Zolotaya Korona entered the European market

Besides, Zolotaya Korona intends to expand a range of services, available to users of KoronaPay in  Europe: the prepaid card issue, issue of e-wallets and payment acceptance for  services.

 According to the company executive Gleb Kozlov, start of service in  May, 2020 and a pandemic of a coronavirus of COVID-19  is an accidental coincidence.  Did not begin to change the name KoronaPay as "a brand recognizable, and  the pandemic will end sooner or later", Kozlov in a conversation with RBC noted.

KoronaPay expects to occupy 50% of the market of online translations from Europe to the CIS in two-three years. For this purpose the company set the zero transaction commissions and also the minimum spread for currency conversion.

The zero commissions and the minimum spread will be in the first phase which can last long enough. We  would like to earn not from money transfers, and from additional services and services which we will be able to provide later (e-wallets, payment of services, etc.)  — Kozlov explained.

The experts polled by RBC note that the company should compete with traditional players, for example, Western Union and the financial technical-companies. According to them, the zero commission can increase its competitiveness in the European market.^[1]

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