Payment system Vkontakte? Is this possible?

Information about the Vkontakte payment system that can be found on the Internet is very different. Since April 2011, the creation of such a system has been advertised. It was supposed to compete with Webmoney and Yandex.Money. After all, such advantages as the absence of commissions, all kinds of promotions and discounts in online stores of 2% or more could popularize it very quickly.

A huge catalog with the widest range of goods in more than ten online stores was available to users and helped him out when choosing a purchase. Virtual stores, in turn, saw a certain benefit in cooperation with the popular social network, because this is an additional opportunity to increase the number of potential buyers.

Social network users have become active participants in the payment system. In addition, the Wish Lists service was launched. Directly on the page, it was possible to instantly pay for wishes using Vkontakte money sent to friends or beloved users.

Earlier, before the creation of the payment system, it was possible to purchase goods on social networks and pay through terminals. Revenue in 2009 was $ 35 million. Just one game "Happy Farmer" brought almost $ 10 million to the social network Vkontakte. Such successes became preconditions for the creation of our own payment system. Was she able to hold out and what is her future fate?

Not worth the candle

Deputy General Director of Vkontakte Ilya Perekopsky said that the Vkontakte payment system is scrapping the project and refusing to further develop. He explains this decision by the fact that due to changes in the legislation in the field of the national payment system, the social network will be subject to serious tightening and restrictions. After the administrators of the social network calculated all the upcoming costs for all kinds of licenses, reports, the creation of legal entities, it was concluded that it is easier to close the Vkontakte payment system than to develop it on such enslaving terms.
 

Conditions favorable only to specialized companies

After the introduction of the new conditions, only the core business was interested in preserving the payment networks. Therefore, Vkontakte decided to close it. The liquidation process itself was carried out in stages. Although the service of desires was declared closed, users continued to use the service for some time and ordered paid gifts. The administration transferred all the accumulated rubles to user accounts. They continued to be used for some time to pay for purchases in online stores. After about a month, e-markets were disconnected from the social network.
The user was not hurt

Despite the closure of the system, users practically did not suffer, because they can make money transfers through a terminal or bank, as it was before the appearance of the Vkontakte money system. After all, if Internet markets were disconnected from the social network, then there was an opportunity to pay for advertising and games. Users were able to link their credit bank cards to their Vkontakte social network account. The unused rubles that had accumulated on the accounts of the network members were converted into votes.
 

Vkontakte plans for the future

Now, in order to make a purchase on Vkontakte, the client is forced to use a separate payment system. Currently, the network administration sets itself the goal of satisfying the desires of its customers, therefore, it is looking for opportunities for this.

Currently, preparatory work is underway to create new forms and tools that could simplify and facilitate the fate of their users. The developers of the Vkontakte network have not yet issued their exact plans, but there is no doubt that a new project is being prepared that will make the network more perfect, convenient and independent.
 

Active position of the social network

The social network Vkontakte, after the closure of the payment system, is actively cooperating with PayPal. Within the framework of the joint project, it is planned to increase the turnover of virtual currency so that both parties have significant income from this.

More than a fifth of all money transfers are made through Visa QIWI Wallet, WebMoney and Yandex.Money, including PayPal.

As for the latter, as a result of cooperation, the Vkontakte administration will share part of its profits with a partner. The head of the Russian service PayPal, Vladimir Malyugin, notes that the company is working quite successfully and has increased its foreign exchange earnings in recent years. Cooperating with the social network Vkontakte, they expect to achieve an even greater effect.

Whether the popular social network needs its own payment system, whether the administration will enter Vkontakte money is still unknown. But, despite its absence, the movement of electronic money is ongoing, and it has never stopped. Perhaps it is worth reopening your system, or maybe cooperation with other systems is enough. The administration knows better, the main thing is that the user is satisfied.