Golden Crown

The main activity of the Golden Crown is organizational and technological support for the functioning of a group of retail payment services of its own design on the basis of a universal processing platform. As part of its product line, Zolotaya Korona provides operating, payment clearing, settlement services to credit institutions of the Russian Federation and the CIS, as well as non-bank organizations that take part in the provision of payment services to the population.

In addition, Golden Crown provides technology outsourcing services, providing operating services to organizations promoting products under their own brands in the financial market.

Performance indicators

2022: Revenue growth by 18.2% to RUB 3.7 billion

In 2022, the Golden Crown earned 3.7 billion rubles in revenue, which is 18.2% more than a year ago at 3.2 billion rubles. The net profit of the payment system during this time fell by 30.5% and amounted to 900 million rubles. Such data were published in mid-March 2023.

According to Interfax, citing the Golden Crown reports, the company's cost of sales in 2023 increased by 16.8% to 2.7 billion rubles. (2.3 billion a year earlier). Accounts payable in 2022 increased by 22.5% - to 303.6 million rubles from 247.8 million rubles in 2021.

Revenue of the "Golden Crown" rose by 18.2%

In 2022, several events took place, which were noted by the press service of the Golden Crown. Thus, the company launched an official channel and a chat bot in, Telegram began to carry out money transfers in, Thailand introduced a money transfer service from the Russian Federation to cards. PEOPLE'S REPUBLIC OF CHINA

In March 2023, the Golden Crown tightened the conditions for cross-border transfers, suspending the sending of money abroad from cards of Russian banks that fell under sanctions. The company noted that they are forced to be guided by the requirements of partners paying transfers in other countries, settlement banks and their own compliance division.

Zolotaya Korona is a fast money transfer service without opening an account that provides services in Russia, the CIS countries, the European Union and a number of other countries. By the end of 2022, the network numbered more than 58 thousand points in 52 countries of the world.^[1]

2021: Record remittances

In 2021, individuals made 29 million remittances through the Golden Crown system. The total amount of transfers amounted to 886 billion rubles - this is the historical annual maximum of funds transferred through the Golden Crown. The result of 2021 exceeded the indicators of 2020 by 15.5% (767 billion rubles) and by 4% - 2019 (852 billion rubles).

2018: Turnover growth of 9%

In 2018, with the help of the Golden Crown - Money Transfers service, individuals made over 39 million transactions totaling 856 billion rubles. Compared to 2017, the increase in the number of transactions was 5%, and in turnover - 9%. The average transfer amount was 21.8 thousand rubles, according to the Golden Crown on February 4, 2019. Read more here.

History

2023: DDoS attacks up to 10 Gbps

At the end of August 2023, the Golden Crown money transfer system (KoronaPay) was subjected to a massive DDoS attack. Information about this began to spread on shadow forums and specialized Telegram chats.

Experts from ServicePipe, which protects digital assets, confirmed to Kommersant a cyber attack on the Golden Crown, which caused failures in its work. According to the commercial director of ServicePipe Danila Chezhin, the responsibility for the attack was claimed by the "IT Army of Ukraine." The volume of such attacks can reach 10 Gbps, however, most likely, this incident was less powerful, added to ServicePipe.

At the end of August 2023, the Golden Crown money transfer system (KoronaPay) was subjected to a massive DDoS attack

Calls to attack the company, as a rule, lead to a massive DDoS attack, which happened to the payment system, "one of the sources told the publication.

DDoS attacks are aimed at interrupting the work of the attacked services, said Andrei Dugin, head of the MTS RED Cybersecurity Services Center. According to him, if the client wants to pay now, and the system does not work, he will not wait for it to restore work, but simply pay through another system and, possibly, then switch to it.

Fyodor Muzalevsky, director of the technical department of RTM Group, an expert in the field of information security and computer forensics, says that as a result of a DDoS attack, customer losses are unlikely, and an inoperable service is only episodic, because it is problematic to attack the entire Golden Crown. Several nodes attack, there are interruptions in transfers on individual nodes, that is, we see only delays in the transfer of funds. The estimated recovery time for significant payment systems is in hours, which is several hours, less than ten usually.

These are primarily reputational losses, which indicate that the system is not too stable. But in general, this will alienate some customers and no more. Perhaps the regulator's sanctions will arise, since there is a regulatory recovery time that the payment system should show after the attack, the expert believes.[2]

2022: Restrictions in Sweden due to corona logo

The Russian system of money transfers "Golden Crown" in January 2022 faced business restrictions in Europe. Sweden considered its logo an exploitation of monarchical heraldry. The decision affects only one country.

2021: Cooperation with MoneyGram to serve Russians

In March 2021, MoneyGram announced the termination of direct service to individuals in Russia. It is expected that the only officially registered foreign money transfer system in the Russian Federation will leave the country. From March 1, 2021, receiving cash transfers in Russia will be available only in branches of partner banks (more than 5,000 branches) of the Golden Crown payment system. Read more here.

2020

Low output in Russia

Payment card issue dynamics in Russia

Entering the European market

On May 27, 2020, it became known about the entry of the Golden Crown into the European market. To do this, the Russian money transfer system has launched the KoronaPay service. Read more here.

2019

Opening of service points in London and Essex

On July 18, 2019, the Golden Crown payment services system announced the expansion of its infrastructure in the UK: service points appeared in London and Essex.

Money transfers to the UK can be made at the offices of all partner banks of the Golden Crown payment services system from the CIS countries and Georgia.

The tariff for making money transfers to the UK from all bank sending points is 1% regardless of the amount. In addition, there is a special offer - "Tariff 0%" for currency transfers with conversion at the rate of the money transfer operator RNKO "Payment Center" (LLC) at the time of the transaction.

The currency for issuing Golden Crown remittances in the UK is euro, US dollars and Russian rubles. The list of available currencies must be specified in the points of issue.

As of July 2019, the service infrastructure of the Golden Crown payment services system has over 50 thousand points in 35 countries of the world.

Launch of money transfers in Lithuania

Another country in the EU zone has appeared on the card of international money transfers "Golden Crown" (KoronaPay brand) - since June 2019, the service has become available in Lithuania. Zolotaya Korona remittances are issued and sent in Lithuania by BP Remit Limited.

The tariff for money transfers to Lithuania is 1%, regardless of the amount of the transfer. In addition, there is a special offer - "Tariff 0%" for transfers with conversion at the rate of RNKO "Payment Center" (LLC) at the time of the transaction. The currency of issuing money transfers "Golden Crown" in Lithuania is euro.

Sending transfers is available at branches of participating banks of the Golden Crown payment system in Russia. You can find a convenient point for sending, as well as for receiving, using the service point map.

As of July 2, 2019, the service infrastructure of the Golden Crown - Money Transfers service has over 60 thousand points in 36 countries of the world.

2018: Money transfers to Estonia launched

In the service of instant money transfers "Golden Crown" (in the markets of non-CIS is represented by the Koronapay brand) Estonia has become available as a direction of transfers. Money transfers to Estonia can be made at the offices of all banks participating in the payment system in Russia, the Golden Crown reported on August 15, 2018.

Issuing and sending money transfers "Golden Crown" in the capital of Estonia Tallinn is carried out by the system partner financial company PayHub AS.

The tariff for money transfers in the Russia-Estonia corridor is 1%, regardless of the amount of the transfer. In addition, there is a special offer - "Tariff 0%" for currency transfers with conversion at the system rate at the time of the transaction. The currency of issuing money transfers "Golden Crown" in Estonia is euro.

As of August 2018, the service infrastructure of the Golden Crown - Money Transfers service has over 60 thousand points in 36 countries of the world.

2017

Turnover growth 5%

• In 2017, with the help of the Golden Crown - Money Transfers service, individuals made over 37 million transactions totaling 785 billion rubles. Compared to 2016, the increase in turnover was 5%.
• In 2017, 56 financial organizations from Russia, Latvia, Azerbaijan, Georgia, Belarus, Kazakhstan, Kyrgyzstan became participants in the Golden Crown - Money Transfers service . The total service network has grown over the year by more than 12 thousand points and totals 61.5 thousand points.
• In 2017, the geography of the service was also actively expanding. Latvia, Ireland, Serbia and Macedonia have joined the list of countries in which Golden Crown remittances are available.
• In 2017, Zolotaya Korona continued to develop online services, expanding its product line with the card2card secure online transfer service: transactions are possible between cards of Visa, Mastercard and Mir payment systems of any Russian bank. The ability to make online transfers "Golden Crown" in card2cash format through the website and using mobile applications in 2017 was received by cardholders of Kazakhstan banks. In addition, the interface of the Golden Crown - Money Transfers mobile application has been replenished with versions in Kyrgyz, Uzbek, Kazakh and Tajik languages.
• In 2017, the Bank of Russia conducted another assessment of the socially significant payment system "Golden Crown" for compliance with the international standard "Principles for Financial Market Infrastructures" (IFR). The assessment confirmed the results of the previous assessment of the Golden Crown payment system on a high level of compliance with the principles for IFRs.
• In 2017, the National Bank of the Republic of Kazakhstan recognized the Golden Crown payment system as significant. Zolotaya Korona has become one of three and the only Russian payment system to receive such status in Kazakhstan.
• In 2017, the international credit rating service S&P Global Ratings increased the long-term credit rating of RNKO Payment Center (LLC), which is the settlement center of the Golden Crown payment system, for obligations in foreign and national currencies from BB- to BB. The forecast for changes in ratings is "Stable." The company's short-term rating is confirmed at "B." S&P Global Ratings experts note that the increase in RNKO "Payment Center" ratings reflects stable financial indicators in the remittance segment.

PC "Golden Crown" is connected to the MirAccept platform

On August 15, Zolotaya Korona announced the connection of a processing center (part of the CFT Group of Companies) using the MirAccept 2.0 protocol of the National Payment Card System (NSPK), which protects payments on the Internet.

The MirAccept 2.0 protocol is a proprietary development of the NSPK and is implemented on the EMVCo specification. Its fundamental feature is that in addition to traditional methods of authenticating users by codes from SMS messages and push notifications, MirAccept 2.0 will allow the use of external authentication based on biometric data, graphic key or the issuer's mobile bank.

As part of the project to connect the Zolotaya Korona PC to the MirAccept platform using the MirAccept 2.0 protocol, CFT developed software, conducted vendor testing, as well as inter-host testing of online shopping operations using Mir cards.

Comprehensive testing confirmed the full compliance of the technical parameters and settings of the processing center with the requirements of the NSPK to support the MirAccept 2.0 protocol and the readiness of the Zolotaya Korona PC to organize Internet acquiring of cards of the Mir payment system.

The Golden Crown Processing Center offers banks a wide range of opportunities for issuing payment systems cards: Mir, UnionPay, Golden Crown, local card products, as well as the multifunctional service Self-Service Network Management for acquiring network management (ATMs, payment terminals, POS terminals).

2016

Turnover growth 12%

In 2016, with the help of the Golden Crown - Money Transfers service, individuals made over 34 million transactions totaling 745 billion rubles. Compared to 2015, the increase in turnover was 12%.

In 2016, 66 credit institutions from,,, Moldova, became participants Russia Azerbaijan Georgia in the Golden Crown - Money Transfers service. Tajikistan The total service network currently exceeds 49 thousand points.

In 2016, the geography of the service was also actively expanding. Among the countries in which the Golden Crown remittances are available are:,,, states European Union Italy Spain France Belgium, Austria, Portugal and, Romania as well as Vietnam, Egypt, Jordan and the UAE. To date, Golden Crown remittances are available in 32 countries around the world.

In 2016, the Golden Crown introduced the online translation service to the market. Instant cash transfer from a bank card for cash in the entire payment system infrastructure can be used both through the website and using mobile applications for devices with Android and iOS operating systems.

Data for Kazakhstan

According to the National Bank of the Republic of Kazakhstan (NB RK), the largest volume of both incoming and outgoing money transfers in October 2016 fell on the Golden Crown system. In October 2016, more than 200 thousand transactions worth 38 million tenge were sent from Kazakhstan abroad through various systems. Among 14 international systems, the Golden Crown is confidently in the lead, whose share is 41, 2% of the amount of all sent money transfers outside Kazakhstan. Compared to October 2015, this figure increased by 7.2%. In the same period, individuals sent 22, 7 million tenge to Kazakhstan from abroad. Over 10 million tenge (45.8% of the total) of which was transferred through the Golden Crown, which also provides the system with the first place in the ranking.

The Zolotaya Korona money transfer service has been operating in Kazakhstan since 2008, the partner network exceeds 1.2 thousand service points throughout the republic. The service participants are 18 leading credit institutions in the country. In October 2016, Tsesnabank joined the Golden Crown system, which is one of the TOP-3 leading financial organizations in Kazakhstan in terms of assets.

The Golden Crown Processing Center is certified for the release and maintenance of Mir cards

In the summer of 2016, certification testing of the Golden Crown processing center for issuing and acquiring cards of the Mir payment system was completed as part of the certification of one of the participants who joined the Mir PS. The Golden Crown PC fully complies with the requirements of the payment system for organizing the process of issuing and servicing Mir cards.

Certification procedures included vendor testing of software developed by CFT, a leading Russian banking software supplier, for the Golden Crown processing center, management hosts, as well as for acquiring infrastructure: ATMs, self-service devices, terminals. In the final part of certification, test cards were issued and test operations were carried out.

Comprehensive testing confirmed the full compliance of the technical parameters and settings of the processing center with the requirements of the NSPK and the readiness of the Zolotaya Korona PC to organize the issue and acquiring of cards of the Mir payment system by partner banks.

2015

Turnover growth 9%

In 2015, with the help of the Golden Crown - Money Transfers service, more than 30 million transactions were made between individuals in the amount of more than 665 billion rubles. 58 organizations in Russia, CIS countries and non-CIS countries became new participants in the service last year.

Financial and credit organizations from Russia,, Azerbaijan Georgia Kazakhstan, Tajikistan Kyrgyzstan became new participants in the Golden Crown - Money Transfers service during the reporting period. Of particular note is the accession to the service of leading banks of neighboring countries - Bank (VTB Georgia), Kazkommertsbank Kyrgyzstan OJSC, Subsidiary Bank of Joint Stock Company "" Sberbank of Russia(), Kazakhstan ATFBanka (Kazakhstan), Capital Bank OJSC (Azerbaijan), Rabitabank OJSC (Azerbaijan). In 2015, the Golden Crown money transfer service became available in the Sales and Service Centers Rostelecom - Retail Systems.

The geography of instant money transfers without opening a Golden Crown account has expanded due to the connection of new directions to the service: Great Britain, Latvia, Bulgaria and Cyprus. Today, Zolotaya Korona money transfers are available in 27 countries of the world, the total service network exceeds 49 thousand points.

The Bank of Russia has completed the assessment of the Golden Crown payment system

The Bank of Russia has completed the assessment of the socially significant payment system "Golden Crown" for compliance with the recommendations of the Central Bank of the Russian Federation on the use of standards and world practice set out in the document "Principles for Financial Market Infrastructures," developed by the Committee on Payment and Settlement Systems of the Bank for International Settlements and the International Organization of Securities Commissions. The activities of the operator of the Zolotaya Corona PS (RNKO Payment Center, LLC), the attracted operator of payment infrastructure services (ZAO Zolotaya Corona), as well as the functioning of the payment system as a whole were subject to assessment.

As reported in the report of the Bank of Russia, "in terms of the scale of its activities, Zolotaya Corona PS is one of the largest private payment systems in the Russian Federation. As of 01.06.2014, 480 participants have joined the Rules, including 377 participants in cash transfer operators; 103 participants - foreign banks. "

Of the 12 Principles in compliance with which the Golden Crown PS was evaluated, four Principles are fully observed in the payment system, seven Principles are mainly observed, one Principle is partially observed. During the assessment of the Golden Crown payment system, the principles that received the rating "not observed" were not identified.

2014

Turnover growth 6%

In 2014, with the help of the Golden Crown - Money Transfers service, more than 31 million transactions were made between individuals in the amount of 608 billion rubles. 119 organizations in Russia, CIS countries and non-CIS countries have joined the list of service partners. For 12 months of 2014, the turnover growth amounted to 6%. During the reporting period, 119 financial organizations became new partners and service participants. Thanks to the entry into new markets, the service is available in 19 countries of the world. The total service infrastructure exceeds 48 thousand points.

The Golden Crown - Repayment of Loans service, which provides services for payment of debt on loans, replenishment of accounts and cards for clients of any bank and the largest microfinance organizations of the Russian Federation, increased the service infrastructure by 30%, bringing the network to 12 thousand points throughout Russia. The turnover of the Golden Crown - Loan Repayment service increased by 64% compared to 2013, and the number of payments - more than 1.5 times.

"Golden Crown - Services for MFIs"

The Golden Crown payment system, summarizing its experience in technological partnership with participants in the microfinance market for the construction of mini-markets for financial services, has combined the line of services for MFIs into a single set of products - Golden Crown - Services for MFIs. Among the clients using a comprehensive solution for MFIs are the leaders of the Russian microfinance market: Home Money, Viva Money, FastMoney, Finterra, Nano-Finance, Cashelot, Express Money, etc. Microfinance organizations - partners of the Golden Crown issued more than 250 thousand cards in 2014, the total amount of loans issued to cards exceeded 5 billion rubles.

2012

Turnover growth 67%

The number of transactions increased by 44% to 26 million, and the service's turnover increased by 67%, exceeding 424 billion. rubles Agreements on the provision of money transfer services in 2012 were signed with 99 and banks Russia Georgia CIS countries. Thus, the infrastructure of the Golden Crown - Money Transfers service increased by another 6 thousand service points.

One of the strategic directions of the service remains the development of services in the domestic Russian market: last year the turnover in this segment increased by 94%.

As for cross-border transfers, here the growth of the service turnover amounted to 60%. The leadership of the Golden Crown among all transfer systems is confirmed by the official data of the Central Banks of the Republic of Kyrgyzstan - No. 1, Georgia - No. 1, the Republic of Kazakhstan - No. 1, Ukraine - No. 2.

Victory in the Omsk region in the competition for the development of the register of universal electronic cards

In May 2012, the Ministry of Labor and Social Development of the Omsk Region summed up the results of the tender for the development of a register of universal electronic cards (UEC) and its implementation in the interests of the Omsk Regional Information Center. The latter is an authorized organization for issuing UEC to citizens of the region.

As follows from the tender documentation, the UEC register in the Omsk region is necessary for preparing the release of cards into circulation, managing the process of connecting new public services provided in the region, as well as information about the services included in the consolidated register of public services. In addition, the register is needed to ensure the process of processing citizens' applications for the provision of public services using the UEC and managing the "keys" and certificates that are used to interact with other organizations involved in the process.

The initial tender price for the work was about 8 million rubles, and a total of six companies took part in the competition. The tender was won by Novosibirsk the Zolotaya Corona company, which reduced the initial contract price by 106.09%, to minus 490 thousand rubles. Another participant who offered a negative price at the competition was the Extreme Pro Company from Yekaterinburg.

"The offer of a negative price at the tender does not contradict the law on public procurement - this option is allowed," said Ilya Kanazirsky, head of the Omsk Regional Information Center, in a conversation with CNews. "However, this situation is quite rare, and therefore many civil questions arise regarding how to draw up a contract, where the contractor pays the customer for the work, and not vice versa." According to him, lawyers of the Ministry of Labor and Social Development of the Omsk Region are now dealing with these issues.

"Of course, there are some concerns that such a price may affect the quality of work," says Kanazirsky. "But we intend to demand that the contractor fulfill them in full, regardless of the final price^[3]."

It is known that the winner of the tender already has a solution for creating the UEC register: in mid-May 2012, Zolotaya Korona reported that the federal authorized organization for universal cards "UEC" certified the module "Register of Universal Electronic Cards" developed by it, designed to automate work on the order and issuance of UEC by authorized organizations in the constituent entities of Russia, for authorized organizations for issuing UEC in the constituent entities of Russia. Also, this module was recognized as a "typical software solution" for issuers of universal electronic cards.

2011

Turnover growth 61%

At the end of 2011, the total turnover of the Golden Crown reached 1 trillion. rubles, which is 61% more than the turnover in 2010. In total, about 1 billion operations were processed (an increase of 55% by 2010). At the end of 2011, more than 56 million cards of various types were served at the processing facilities of the Golden Crown (an increase of 75% by 2010). Of these, 41 million cards issued in the Golden Crown services, including:

• 7.2 million bank cards "Golden Crown"
• 6.1 million payment cards with an expanded package of services distributed through retail chains
• Over 25 million bonus, gift, and discount cards
• 2.7 million transport cards "Golden Crown"

As part of technological outsourcing at the processing facilities of the Golden Crown, as of December 2011, more than 15 million bank cards were serviced, providing the necessary consumer functionality within the framework of external projects of various issuers.

Agreement with China's UnionPay

The settlement center of the system - RNKO "Payment Center" is a principal participant in the international payment systems MasterCard and Visa. In 2011, Golden Crown entered into a partnership agreement with the Chinese payment system UnionPay. As a result of this cooperation, a project was implemented to ensure the acceptance of UnionPay cards in Russia, and the issuance of Golden Crown - UnionPay co-branded cards began.

One of the technological innovations of the Golden Crown in 2011 was the development and launch into commercial operation of the Golden Crown - Loan Repayment service. The uniqueness of this technology lies in the fact that it allows banks, in addition to their own infrastructure, to use a large-scale infrastructure of "walking distance" of partner retail chains to repay loans, replenish deposits and bank accounts.

In 2011, it was also successfully certified by the UEC Golden Crown product UOS Information System, which allows you to implement a full set of functions of an authorized organization of a constituent entity of the Russian Federation.

2010

Turnover growth 245%

The turnover of the System exceeded $3.85 billion, which is 245% more than in 2009, including the turnover in the IV quarter - more than $1.4 billion, which amounted to 38% of the total annual indicator.

The number of transactions processed during the year increased by 3.5 times compared to 2009 and exceeded 7 million. The market share in the main areas of transfers from Russia - Uzbekistan, Tajikistan, Kyrgyzstan, Azerbaijan, exceeded 30%.

The total number of points in Russia and the CIS providing services under the System as of the end of December 2010 exceeded 23,500 points. In 2010, the System managed to create the most extensive network of money transfer systems in the Russia-CIS corridor. In the reporting year, an important milestone of 10,000 service points was overcome in the CIS.

In 2010, partnerships were established with 65 banking organizations in Russia, and 30 in the CIS - twice as many as in 2009. Such rapid expansion was made possible thanks to the modernization of the implementation technology - the System's specialists achieved a record (2-4 days) period for connecting the bank.

The number of issued "Sender Cards" of the System exceeded 2 million units, an annual increase of 600%. The Zolotaya Korona system was the first on the Russian market to introduce card technologies into the money transfer service and retained its leadership in this segment for 4 years (the first card operation was carried out in February 2007).

Large-scale advertising campaign of the system

2010 was marked by the introduction of a set of services that improve the quality of service for end users of the Golden Crown system in neighboring countries. The SMS-informing service, which has been pleasing Russian users for more than 2 years, has also been replicated in the CIS countries. The issue of transfers in several national currencies has been implemented. Since the beginning of 2010, carriers of a number of national languages ​ ​ of the CIS countries have been operating in the contact center of the System.

The system "Golden Crown - Money Transfers" conducted in 2010 the federal marketing project "Crown Transfer." Weekly among the senders of transfers in the amount of more than 10 thousand rubles, cash prizes were awarded. The lottery was attended by senders of transfers using the Golden Crown - Money Transfers system from all 7 federal districts of the Russian Federation. The total prize pool of the lottery exceeded 1.6 million rubles, in just 7 months that the lottery lasted, 32 draws were held, 96 winners were determined.

In addition to the large-scale lottery project, significant funds were invested in promoting the System's services in the B2C segment - more than 100 comprehensive marketing campaigns were held in the regions and at the federal level, including promotions for customers, TV, print and outdoor advertising.

A special human resources unit for partner companies has been created. During the year, the specialists of the division conducted more than 100 trainings of employees of banks and retail chains. A new online loyalty program platform for bank employees has been launched - the Golden Bonus - Money Transfers Club.