RuEvery 5th Belarusian uses the Oplati service.
The implementation of the Oplati™ service ensures comfort for both citizens and the nation’s entire financial system. This was stated by LWO Director Oleg Kondratenko during his speech at the II International Digital Forum #GBC (State. Business. Citizens) held in Minsk on May 18.
“In recent years, we’ve worked to create a payment service that would bring comfort to our citizens and financial system. The processing systems used by our banks are foreign. Belarus doesn’t produce cards, terminals, chips, or chip software – all these are imported and now extremely expensive,” explained Oleg Kondratenko, head of the High-Tech Park resident company.
“The concept and philosophy of our national Oplati™ payment system emerged about five years ago. In 2017-2018, we met with the new HTP head Vsevolod Yanchevsky. Our discussions led to a clear conclusion – the country needed a service to reduce dependence on international payment systems.”
OPLATI TODAY
In current conditions, using Oplati™ for QR payments and money storage is efficient and convenient. “To use our service, you only need a smartphone, internet, and Oplati™ processing technology integrated in the bank,” stated the head of LWO company.
Our service, created by Belarusians, already has over 750,000 users who appreciate its benefits. It allows you to:
- Easily pay for public transport
- Skip lines at amusement parks
- Instantly buy cinema or theater tickets
- Pay directly at fuel pumps
- Transfer money between users via chat without fees
All transactions are processed via QR codes or within the application.
This enables payments from domestic accounts within the country, eliminating the need to pay foreign payment systems. Overall, payment processing costs amount to $50-70 million annually. By implementing the domestic payment service nationwide, these funds would remain within the country’s economy.
– noted Oleg Kondratenko
Oleg Kondratenko also emphasized that Oplati™ processing is significantly cheaper and several times more efficient to use. Therefore, it’s profitable for businesses to adopt the Oplati™ payment system.
“To start accepting payments, you just need to display a QR code or install a scanner at the checkout,” he noted. “Our processing reduces transaction costs several times over. We don’t have a fixed minimum fee per transaction. Card systems do – 5-10 kopecks. That’s their floor. But we’ve set ours at just 0.5%. Even a one-kopeck payment remains profitable for businesses.”
Oplati™ is growing rapidly and gaining traction in Belarusians’ smartphones, largely due to advanced technological development.
“We’re growing several times faster than bank cards did. What took cards 20 years to achieve, we’ve accomplished in our first two years,” stated Oleg Kondratenko. “We’ve already reached a significant milestone – 20% of the country’s smartphone users with internet access have become Oplati™ users.”