Kompaniya (Moscow) – April 21, 2008

RBC Information Systems has acquired 20 percent of Rupay, one of the leading Internet payment market participants. The buyer has an option of increasing its stake to 51 percent over the course of three years. Rupay claims some 5 percent of the Russian market of online payments. Last year, the turnover of Russia's five largest payment systems accounting for 85 percent of the market aggregated $16bn. Rupay’s client base is upwards of 250,000 Russian Internet users and roughly 6,000 online stores. According to German Kaplun, chairman of RBC’s Board of Directors, Rupay is to serve as the basis for a new unique e-payment platform dubbed RBK Money. The new system will allow for efficient interaction between banks and all current online payment systems. “It is somewhat similar to PayPal, though there will be differences,” Kaplun explained. The plans are to promote the new system only in Russia and the CIS. The system will be based on the infrastructure and the capacity of Burg Capital Bank, acquired by RBC last year. In November 2007, it was rebranded RBK Bank. “While RBC is accumulating content of great variety, the lack of a fully developed online payment system prevents the further growth of web commerce,” iKS-Consulting analyst Yelena Krylova said commenting on the deal.