Interview with Olga Vilkul
General Manager. International Payment System Leader LEADER
Modern Payment Services are organizing an E-Innovate day in Dubai on the 12th of November 2013. Timizzer met Olga Vikul, the General Manager of LEADER and discussed the Modern Payments topic along with LEADER’s vision towards the future of Payments Industry.
Q. How do you define Modern Payments and how so you see this industry evolving?
A. In the future there will be no division into banks, wallets, payment systems, brands and logos. There will be one universal payment environment, a universal ID (The UAE authorities are already working towards implementing its prototype), a universal starting point to enter the financial system. A person is going to get one bank account without being linked to any specific bank, one eWallet, several banking cards of various types and forms – plastic cards, virtual cards, for oneself, for family members, a SIM card of any mobile operator linked to a bank account, and endless opportunities to use money in any form – real, virtual, bitcoin, and in multiple currencies. There are going to be several universal methods to identify a person: fingerprint, retinal identification etc, which is going to allow a better remote control of one’s finances and open more opportunities for developing contact-less payments. And of course, we shouldn’t forget about the Y generation, about those who are now 5-15 years old, This is the generation that’s going to revolutionize the payment system. They and the gadgets are absolutely inseparable, which means that we’re only at the dawn of the era of major innovations.
Q. What are the things you want to achieve out of this event?
A. We have recreated such notion as noosphere, i.e. the metasphere of all knowledge, a special information field of Earth. Think about it – why do researches from different countries, speaking different languages and with different mentality – come to the very same conclusions and formulas in science, economics, business – independently from one another? We all share the universal information field of the planet, and it’s this incredible atmosphere that we want to deliver at the conference. Therefore, we invited the most interesting and courageous innovators from all over the world. We’re sure that many of the discoveries will be made right at the conference. The format of the event is going to be innovative as well – we aim to have live discussion.
Q. Why did you choose Dubai for your event?
A. We’d like to prove that open systems like web 2.0 do exist – when people themselves create the content, only in real life. Our speakers chose the topic and the format of the Conference themselves. They also chose the direction the discussion will be going. We believe this approach is going to bring real results. Something good and unusual is definitely going to happen. Everything there prepossesses to this. The city sort of challenges you: “And what are you worth? What can you give and offer?” We’re sure that our Conference is an adequate response to this challenge.
Q. Does Innovation of payments methods create challenges to traditional Banks and payments services providers?
Of course it does. We believe that a bunch of courageous innovators can find a new way out and a new world in the situation where huge machines of banking industry can’t see a way for development. The biggest problem and threat for modern banks and large payment systems is the banks and payment systems themselves. That’s their main enemy and main obstacle they won’t be able to overcome. Even having all their numerous resources, action plans, business cases and ready-made business development models and solutions, they’re bound to get stuck and stop progressing. Because modern innovations are not about finances, they’re about motivation. The science of the future is not economy, it’s psychology. And only psychology is able to answer the question “Which direction are we moving in the modern world?”
Q.What is the role of social networks in developing modern payment services?
Their role is the most complicated and most amazing. Today we realize that social networks are a serious and motivating factor for millions of people around the globe. However, their potential has not been yet fully studied. Researchers and marketing specialists of the past tried to conquer them quite aggressively while applying their standard methods. They didn’t understand that social networks are not just standard internet platforms, that conventional advertising approach isn’t at all appropriate here. It can be used, but it doesn’t give them the way to reach their full potential. Working with social networks is about researching the deepest models of personal behavior, personal environment, and personal motivation to be real rather than hide behind the mask of a social network character. Integration of social networks, which are currently perceived as entertaining platforms, with financial services is possible. One’s motivation can change at any moment. What used to be an excuse for entertainment can suddenly become a spontaneous purchase or a business opportunity. You just need to offer a maximum of interesting opportunities. Social networks users must have a choice – to indulge in entertainment or to purchase goods and services. It’s important that one could easily lead to another and that both are available and easy to access.
LEADER system is a perfect partner for those who want to transfer their money and make all kinds of payments in the most secure and fast way. Our company was founded in 2003 and works with more than 560 banks, financial organizations and over 2700 service providers in 135 countries.
You can conveniently use our services in 110000 locations all over the world.
We are proud to be close to our customers and make their lives better by constant improvement of our technologies, geographical expansion and advancement of the service assortment. LEADER is also licensed by the Central Bank of Russia for making banking operations in different currencies (opening bank accounts for legal entities and banks, making settlements and money transfers, purchasing and selling foreign currencies, etc.) for your comfort. Help and support your beloved ones, make business with LEADER and you will always have an advantage.