Virtual Roubles for real commodities

Ever more services can be paid for electronically
By Olga Belova

Each year, ever more items and services can be paid for conveniently online. The Belqi electronic payment system — whose currency is equivalent to Belarusian Roubles — can be used to pay bills for utilities, as well as for communication services, education and loan instalments. In fact, over 50,000 services are covered.

The system has been launched by Priorbank, in co-operation with the Russian QIWI system, explains Sergey Gerasimovich, Head of Priorbank’s Innovation Department. He notes, “The new system of electronic payments was launched with the aim of expanding opportunities for people to pay online — including for goods and services abroad, at a reasonable exchange rate. You can open a Belqi electronic account, managing it from your own computer device, wherever you happen to be located.”

The system has several aspects making it extremely convenient, allowing money transfer between bank accounts at the click of button, to pay for goods and services. Automatic payments can also be set, such as paying a fixed amount for Internet access each month. Just stipulate the terms of whom to pay and when and the system will automatically transfer the necessary sum. The system can be adjusted to pay for mobile phone services so that you never run out of credit. “Moreover, you can top up your account using Internet banking or Priorbank’s payment-reference terminals,” adds Mr. Gerasimovich. Electronic money can be turned into cash at Priorbank’s cashier offices and bank branches, with just 2 percent commission payable.
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