Adaptation of this business plan is possible for similar project on the territory of Russia and countries of CIS.
Essence and idea of the project: creation of the payment service «EQ-Pay».
Specifics of the project: creation of unified system of acceptance and control of online payments, which integrates the different payment systems and is a mediator between Internet entrepreneurs and online buyers of goods and services.
Audience of the project: segments of B2B (Internet entrepreneurs) and B2C (final consumers, payers). The Russian-speaking population of CIS, European countries and the USA, which conducts the entrepreneurial activity in the territory of mentioned countries, were considered as B2B audience.
Geography of Audience
Number of companies
United States of America
*
Europe
*
CIS
*
TOTAL
62,473
A state of the market:
volume of global e-commerce market by results of 2013 has amounted to 1,248.4 bln USD and increased by 18% in comparison with the similar indicator of 2012;
global turnover of e-commerce even in the current year 2014 will exceed the level of 1.5 trln USD and till 2017 it will amount to 2.4 trln USD approximately;
according to the experts, besides the countries of Asia-Pacific region, the leaders of growth are Russia, Argentina, Mexico, Brazil, Italy and Canada;
the Russian market of e-commerce tends to increase in 4 times till 2018: the share of online trading in the total volume of retail in Russia will increase from 3% to 12% during the next few years.
Financial indicators of the project:
Indicator
Unit
Value
Necessary investment
$
***
NPV
$
***
IRR annual
%
***
Payback period
years
***
Discounted payback period
years
2.24
Excerpts from Research:
After the buyer’s definition of his purchase, he is addressed to the payment page of «EQ-Pay», where he chooses the convenient payment method.
Anyone of «EQ-Pay» system’s clients (the Internet entrepreneurs) has his own virtual account, where the funds from online buyers of goods and services are primary transferred.
A seller is informed about entering of payments in his favor. The client of «EQ-Pay» can take his funds in one of three ways:
transfer to his account in a payment system;
withdrawal to the ATM-card distributed by the «EQ-Pay» Company;
replenishment of the VISA Virtual card issued by the «EQ-Pay» Company.
The fees for services of payments accepting amount to 2.9% of sum, which is transferred in a favor of the «EQ-Pay» system client.
Benefits of System for the Internet Entrepreneurs:
signing of one agreement with the service for all types of payment systems;
quick and easy integration;
monitoring of the situation with helping of sales reports and analytics;
there is no need to delve into the intricacies of each payment systems;
an opportunity to reduce the number of stuff, which controls the taking of funds to the accounts;
convenience of the system of online payments collection;
the average market fees for services of systems of electronic payments accepting;
an alternative in choosing of fee rate – an internet entrepreneurship can use either fixed or percentage rate, considering the most favorable variant for him depending on the average payment;
single percentage rate of fees regardless the type of payment system, which the payments are transferred from;
an opportunity to expend the number of available payment methods, increasing in this way the attractiveness of online store for the buyer;
reduction of time period between making decision about the purchase and placing an order.
Benefits of System for Online Buyers of Goods and Services
an opportunity to pay in the most convenient way;
the site is multilingual;
accepting of the most demanded currencies: RUR, USD, EUR, UAH;
day-and-night accessibility of payments accepting system;
there is no need for additional registration in the system of payments accepting – transition to it from the site of online store is automatic.
