Rostelecom, Russia’s national telecommunications operator, completed development and began commercial operations of its single payment system. It simplifies the procedure for payment for all telecommunications services of the company on the territory of Russia and also introduce new services such as “auto-top-up” and “e-commerce” or “single click”.
After the reorganisation of the company in 2011, Rostelecom had about 1,000 partners in this business area. The previous model was highly ineffective. In order to improve the efficiency and optimise its costs, the company decided to create its own system. The launch of the service for bank card payments and electronic money payments on the Rostelecom website will allow to increase the speed of transaction.
In H1 2013 the total revenues of Rostelecom decreased by 5% compared to the previous year (from RUB 161bn to RUB 154.1). The net profit of the company decreased by 31% from RUB 20bn to RUB 13.7bn.