The fourth international conference eCom21 focused on the development of electronic payment services and e-commerce was recently held in Riga. Among the speakers were representatives of MasterCard Europe, Rietumu Bank, Electronic Money Association, Mail.ru Group and WebMoney Transfer. Thirty-nine speakers from thirty-two countries shared their views on current trends as well as challenges faced by the market players.

In his speech, Avet Mnatsakanyan, the CEO of WebMoney Europe, has focused on the fact that an e-Wallet is no longer just a payment tool. A recent study has shown that consumers also wish to see their e-wallets as a communication tool, for example, it is important for the consumers that their e-wallets have a built-in messenger, P2P loan interface and additional functions to interact with their business partners. These features not only create a better user experience but also an environment for users to carry out secure business activities online.

Avet Mnatsakanyan has also highlighted an important event for the industry: WebMoney has acquired a European licence granted by FCA (Financial Conduct Authority of the UK), which has secured the company`s status as an e-money issuer, allowing further expansion in all countries within the European Economic Area.