Money transfer market does not scare the emergence of "supermonopolista»

Customs and border guards regularly catch couriers, who are trying to take out large sums of cash Russia. It operates an alternative remittance system, or, as it is known in the international financial institutions, "informal providers of remittance (PUDP)." Own informal "banks" have many diasporas, whose members work in Russia. As a rule, their customers prefer not to deal with formal structures, which lists and the "official" credit institutions and money transfer systems - there is always ask the sender for the documents show that in migrants working illegally, have no desire (well, if the documents , that is). It is much quieter (and cheaper) to send money home through friends or through a "bank", who was involved in the organization and "transfers" of funds for low interest rates. Particularly prevalent alternative financial networks among Chinese immigrants, who use their "banks" in the world where there are Chinatowns. But representatives of the former Soviet republics are no less, and even more adventurous, and because much of the cross-border transfer is in addition to officially registered systems. According to the World Bank in 2009 from Russia to the migrants sent home $ 18.6 billion, according to CB, the total amount of remittances from Russia (and the banking system through remittances) totaled $ 25.4 billion, estimates how much cash crosses the border " past funds "is very inaccurate. According to a senior officer of the Central Bank, amounts may be billions of dollars. In this and the development of payment systems is a priority for the state - and not only in Russia. Alternative remittance systems exist in many developed countries, attracting for unskilled labor migrants. In 2006, the World Bank experts, in its report "Approaches to the management of formal and informal money transfer systems: experiences and lessons learned," noted that the service to transfer funds abroad may have, for example, individual entrepreneurs, traders, shops, travel agencies, gas stations, courier and transport companies. "Regardless of whether it is primary or secondary activity, service providers are known to the public authorities or not, they provide their customers with service that is taking money from the public, provided that these monies will be paid in a territory," - the report said. That's why the fight against this phenomenon tends to be long and more or less effectively. And the main weapon here are the prices for similar services registered money transfer systems (SDS). Practice shows that smaller domestic SDP successfully mastered this technique. But the big players are not going to dump. Plus monopolist monopolist. In late January, the players of the domestic money transfer market, with interest read the news of the signing of an agreement Savings Bank and the world's leading cross-border transfers by Western Union. The Alliance in the future could be a first step towards a de facto monopoly: moreover, that WU has 386 thousand service points all over the world, sberbankovskie 20 thousand extra will not (although, as stated in the release, the first translations of WU would take only 8 thousand items). However, the tariff policy of the WU is that afford the services of the company may be a few - namely, those for whom speed, "hit accuracy" and reliability is more important than the amount of the fee. In addition, most of the cross-border transfers carried out through the SDP, it is necessary for the CIS countries ($ 10 billion versus $ 1.7 billion to foreign countries in 2009), so the emergence of domestic players, "supermonopolista" perceived no worries - just as another project on Savings expand its influence, not carrying the real threats to their business. Sberbank has long stated its intention to expand its presence in foreign countries, and the Western Union network is widely represented in 200 countries. It is noteworthy that Western Union was the second international money transfer operators working in the offices of the Savings Bank. In December 2010, with Sberbank began cooperating money transfer system MoneyGram. «Western Union will provide only cross-border transfers - told the" F. "the press service of the Savings Bank. - The customer will benefit from a choice of services and MoneyGram, and in fact most of the Savings Bank - a system of "Blitz." "In addition, the Savings Bank plans to continue to enter into agreements with other operators and remittances." "The agreement is not exclusive and does not oblige the Savings Bank to cooperate only with Western Union», - says the chairman of the Committee on Payment Systems and banking instruments of the National Association of e-commerce Boris Kim. - So I do not think it will greatly affect the state of the market and prices, the more that Western Union works with many banks, as well as "Mail of Russia". " Rates at a minimum. Russian money transfer market peaked in 2008, showing sales of $ 13.7 billion this time the major players almost exhausted the potential to further reduce tariffs. "The time of the tariff competition is over," - says the head of retail business MDM Bank Marina DEMBITSKY. According to her, right now, market participants are trying to promote their services through new channels and develop a loyalty system. Against this backdrop, Western Union, even in alliance with Sberbank competitors do not look. Indeed, the highest fees for transferring money just keeps WU. For example, the transfer of 15 thousand rubles, it will have cost 550 rubles-lei to the CIS countries and 1,250 rubles in foreign countries. The percentage is 3.7 and 8.3% of the amount. For transfers in USD interest rates are the same. At MoneyGram, its nearest competitor WU, a switch fee of $ 500 is about 1.6% to CIS countries and 6.4% in foreign countries. After a third foreign operator Coinstar same $ 500 can be transferred for $ 18 (3.6%). The Russian operators in general, prices are lower and, as a rule, there is a greater differentiation of tariffs depending on the region. So, UNIStream rates range from 0.35% to 2%. It is interesting that send money through the terminal UNIStream Qiwi more - 2.55%, and a mobile phone even more expensive - from 2.9 to 4.9%. The "Anelik" rates range from 0.5 to 4% at Contact - from 1.5 to 3%, the "Inter-Express" - from 1 to 4%. Money transfer system "Golden Crown" Commission holds at 1.5%. Savings Rates "for urgent international transfers" Blitz "in the CIS countries is 1.75%. Translate to Russia 15 rubles through the "Mail of Russia" (system "CyberDengui") will cost 255 rubles (1.7%). However, a significant drawback of mail in this regard is that the funds go to the recipient instead of 15 minutes and up to 72 hours. According to figures released on the website "Russian Post", a term delivery for urgent transfers "Fast and Furious" is less than an hour, but this type of transfer is carried out only by Russia. On average, we can say that to make a transfer in the same 15 thousand rubles-lei to the CIS countries will be in Russian operators 1.5%, in foreign countries - 2%. Even lower. In fact, it's really cheap on a global scale, we can see by looking at fees to transfer money from U.S. to Mexico. According to the Mexican Federal Commission on Consumer Protection (PROFECO), translation will cost $ 300, depending on the operator and the city to send between $ 5.5 to $ 9.5 (2008 data). That is 1.8-3.2%. Tariffs of less than 1%, as in Russia, is not there. Or, more precisely, not in the official PUDP. On the other hand, the ocean and there is no such tariff "forks," as in Russia. But there are chances that the difference in prices for transfers will be narrowed by the biggest players. "The general trend in the near future - it's cheaper tariffs, although much will depend on the situation in the market as a whole" - say in the Savings Bank. "Rates in the industry is really moving down gradually," - said the director of the Consulting Group "Aspect" Artyom Genkin. - Here the cartel price inflation is fundamentally impossible if there were alternatives in the form of "electronic purses" - the electronic payment systems with the cost of transactions at the level of 0.5-0.8%. " According to him, of course, that the award for "physical contact" with the customer service provider is not going away, but its size will gradually fall. "Given the state of the market in 2009, we have already made a significant reduction in the size of the commission to the most popular regions", - said the regional vice-president of Western Union in Eastern Europe and CIS Jonathan Knaus. - Tariffs imposed in 2009, provides a significant reduction in fees for transfer from Russia to Belarus, Kazakhstan, Moldova, Tajikistan, Turkmenistan and Uzbekistan. " But this applies only to large tariffs. The minimum bid is unlikely to fall below the existing ones. "Further tariff reductions in remittances is unlikely - the deputy chairman Sergey Russlavbank Bludov. - Already, for participating banks profitability declined slightly by reducing the amount of commission retained by the sender. " However, according to him, due to the growth level of adaptability and automation of the process of money transfer significantly increased the speed of service. "This factor, as well as increase the number of clients allowed banks to partner on advanced technological systems to maintain a sufficient level of profitability," - said the expert. Growth prospects. According to a recent World Bank report "Migration and remittances in 2011," Russia in terms of activity-migrants to transfer money migrant workers is by far one of the most attractive markets. The amount of remittances from the country last year Russia ranked fourth in the world. It surpassed the U.S., Saudi Arabia and Switzerland. In this case, according to the report, Russia ranks second in the world after the U.S. in the number of arrivals per year for work migrants. Therefore, despite the fact that competition is already high enough, it may increase even more. "This market is very dynamic, participants are constantly expanding their network of service and number of partners in an effort to attract new customers", - says Jonathan Knaus from Western Union. This expert is sure that competition will increase and in terms of expanding services, such as money transfers via new electronic channels - kiosks, ATMs, the Internet. Become more prevalent and transfers to legal entities. "One more, though, is the global trend - the output of money transfers from bank offices" - says Knaus. According to him, overseas remittance can be sent from the supermarket or pharmacy, and soon in several European countries, such services are available at petrol stations. "The peculiarity of Russia is still a predominance of cash transactions" - recognizes the head of Western Union. However, the deputy chairman of Credit Bank of Moscow Zalina Slanova believes that Russia and in the service of money transfer can be automated and away from the offices of banks in the terminals, ATMs and Internet banking in the near future. "Now this has all the prerequisites: a leading international players, and small payment systems are combined in electronic payment systems that provide remote maintenance - she says. - Of course, we are talking about small amounts, but the bulk of translation are generally not large and the amount. " According to Marina DEMBITSKY likely in the banking sector there will be some decline in revenues in the next 1-2 years. "To strengthen the market position lenders can take advantage of ATMs and payment terminals, that is to bring customers wishing to send cash, bank offices of the walls" - she said. "2010 was a year of significant increase in the money transfer market adaptability, and in 2011, this trend should continue, - Sergey Bludov agrees. - The two most notable trends - increasing the speed of transfer and increase the share of non-address networks. " According to experts, because tariffs on the market can be called optimal for all participants, began a period of service competition remittance systems, which is crucial network development. True, it does not mean that the big players displace smaller ones. "We should not assume that the formal sector (whatever its definition) is in some sense" better ". In practice it often happens that a small or specialized PUDP actually offer a cheaper and more effective services, and if they comply with relevant laws, rules and regulations, using the established practice of doing things, you can make a significant contribution to the creation of competition in that market services " - experts say the World Bank. Cross-border transfers made through money transfer * $ million transactions Name 2007 2008 2009 I quarter. 2010 Quarter II. 2010 III quarter. 2010 Transfers individuals from the Russian Federation 9.444 13.707 9.967 2.078 2.945 4.013 to foreign countries 868 1.098 1.048 352 405 482 to the CIS 8.575 12.609 8.919 1.726 2.540 3.531 * money transfer system include: Anelik, Blizko, Coinstar Money Transfer, Contact, Inter-Express, Migom, MoneyGram, PrivatMoney, UNIStream, Western Union, AziyaEkspress, Allure, Blitz, Rapid-mail, Gold Crown, the Leader of Russian Post. Source: Bank of Russia