The Russian venture company and Kommersant FM present a special project “Venture Engine”.

Today, millions of citizens pay for purchases via the Internet or using a mobile phone. According to experts, every sixth Russian does this. However, few of them know that in Russia this became possible largely thanks to the PayCash technology developed by specialists from the company MOBI.Money . In fact, its authors offered users many individual “electronic wallets” connected to a single processing center. Last year, the volume of payments made through the PayCash system amounted to 10 billion rubles.

In 2010, the company launched applications that allow using a mobile phone to make money transfers throughout Russia and the CIS countries and pay for utilities. In 2012, MOBI.Money released a virtual payment card, Card2Day, which exists only in the form of details. Its number matches the owner's phone number. You can manage the card via SMS commands, through the Web interface or from a mobile application. Card2Day is protected from fraudsters: an SMS message with a dynamic code, which is created for each purchase and is valid for an hour, is sent to the owner’s mobile number.

The founder of the company, Doctor of Physical and Mathematical Sciences, inventor, author of a number of patents, Ivan Kuznetsov notes that one of the success factors of MOBI.Money was the timely attraction of investments from RVC’s portfolio fund “VTB - Venture Fund”. The funds raised five years ago were used to create infrastructure for processing non-cash payments. The investment allowed the company to strengthen its leadership in the mobile commerce segment and enter the new fast-growing segment of payment processing for the e-commerce market.

"Venture engine: case of MOBI.Money"