Review: glance at the 2007

 First of all, the end of 2007 that is traditionally involved into Christmas commotion, was marked by the purchase of Ecommerce-Journal by new group of investors that during some years were dreaming of creation an objective independent scale informational media-portal about virtual economy. Those readers who were with us all this time, and also the new visitors interested in the industry of the electronic finance, experience the historical moment of a rebirth of our magazine. Nowadays the team of independent journalists of Ecommerce Journal aims to cover professionally all the aspects of virtual economy, and at the same time to keep the determined position of our magazine, as the largest media-edition in the Internet which multilaterally covers the whole HYIP-industry.

And during the period of Christmas congratulations and prevalence of congratulatory cards in a letter box over the importunate bulk messages and work correspondence, there is a sense to sum up the leaving year. And though the annual statistical data is not submitted, as December is not finished yet, let's recollect all interesting events we have observed on our monitors during the last 12 months.

Let's start with those who set the pace of virtual economy development. Year of 2007 was a critical one for E-gold that endured on its shoulders all the burden of administrative pressing. Even now the company has a difficult time due to the suits brought against it. But brothers Douglas L. Jackson and Reid A. Jackson), as well as Barry K. Downey had found that their only way out is a fair play with the sets which the USA law considers as the right one. The work of the most prominent Internet gold and exchange office now is constructed on "know your client" basis. And though the temporarily empty gold niche was occupied by Liberty Reserve and E-bullion, E-gold system actively whitens and pursues a policy of blocking the accounts noticed in transactions with HYIPs.

For PayPal payment system the present year, as well as each previous one has turned into an active phase of development. Having won the award WebWare 100 Winners in June, the world payment giant has also made the big step over the ocean; having left one foot on North American continent, it stepped on the ground of Luxembourg with its second foot and had received there a bank license. Such step was caused by move of European representative office in London and was aimed to escape from surveillance of FSA. The rate of PayPal on the European market the Internet - payments is quite reasonable, as 25 % of company accounts are concentrated here and 35 million of accounts are registered by the European. Also in 2007 the company has opened the credit line for online and trading structures that was noted by the experts as the evolution step in Development of the company. The major partnership cooperation for PayPal this year was the relations with Yahoo Marketing Service that since August 28 allows the users to pay for services of Yahoo advertising service.

As for the difficult destiny of NETeller system we can say that 2007 became fatal in development of the old resident of virtual economy, and in particular of gambling-processing.

All began with arrest of Stephen Eric Lawrence (such a man) in the beginning of January accused in laundering of illegal casino incomes in Internet, and on January, 17 all payment system transactions in territory of the USA have been stopped.

Eleven months passed and silently, in a low voice, we should admit that unfortunately the state gained the upper hand over the system and in the summer its founder Stephen Eric Lawrence was found guilty in implication to the doubtful transfers which were performed by the players the Internet casino via NETeller system. Having kept only one third of actives, he hardly has managed to keep system floating in the ocean of the electronic finance. In a result millions of NETeller users including lots of our readers see this 2007 off with bare heads and look with a horror at the thing that at the will of USA government Stephen Eric Lawrence is faced to the five years of imprisonment and threaten another co-worker of NETeller - John David Lefebvre, who was found guilty for the similar accusations. It is necessary to expect the decision of the American court.

It is necessary to tell separately about WebMoney system that actively storms the boundaries of the European and American financial bastions hiding the world leaders of Internet payment system market. However this summer the system has opened its gold and exchange line, and the electronic counter has overcome a mark of 4000000 registered accounts. The company keeps such pace since 2004, and increases the number of users more than for one million each year.

MoneyBookers. The present electronic payment system will remember this year for change of the owners. So in April the European leader of the electronic finance market that have FSA license for issue of electronic money, has declared purchase of control stock of its company by investment group Investcorp for 105 million euro. Whether such transaction affects the further development of MoneyBookers or not we'll see in the next 2008.

And on the threshold of Christmas we have nothing but to consider the history of development of online banking for the last 12 months. Technologies go forward so quickly, that it is necessary to determine the online banking platforms first. We shall begin with classical Internet banks.

The most remembering and sad event of this year, probably was the incident with Fethard Finance owing to which tens of thousands of servers worldwide had spread the news about its default. In September of this year the company has got into the list of "objectionable ones" of state bodies of the Russian Federation, and its activity has been interrupted. Certainly, it is too early to tell that now all the doors to world virtual economy for Fethard are closed, however this case will be a good lesson in 2008 for all the Internet banks that want to develop actively without consideration of political conditions and the opinion of the state structures.

As for the mobile banking, we can note that the development dynamics of the given sphere of payment means in 2007 is more than encouraging one. So according to this year researches more than 42 million families in the USA use mobile banking for realization of bank transactions.

Such active development of online banking technology has caused a series of scale researches owing to which even today on a boundary of 2007 and 2008 a number of consulting agencies permit themselves to make some statements that are daring enough. So according to October research of Javelin Strategy & Research within the nearest five years the volume of online transactions of users will increase about $150,4 billion up to $355,2 billion. Thus the volume of alternative online payments (for example via PayPal system) by 2012 will be 30 % of the volume of all online transactions. And Jupiter declares, that by 2011 the world volume of mobile payment market will increase up to $11,5 billion against $77,6 million in the current year. Planned parameters seem fantastic, however this is promoted by the fact that this year the rate of electronic payment system development was set at the intergovernmental level. In March the Ministers of Finance of the European Union came to agreement in the issue of legislative control of payment services. The bill takes away all legal barriers in the field of consummation of Single European Payment Area (Sepa). Besides that the foreign payments (within the EU), performed by means of electronic transfer, credit, debit cards or by any other ways will not be more expensive than the similar payments inside the country.

Today one can hardly imagine that only 11 years ago it was di fficult to find a person in Internet who was aware of e-gold, and today we, Ecommerce Journal team, together with you, our dear readers, are making a summary of year results, by correlating the dependence degree of virtual economy on the real one and arguing about the state regulation of electronic payment system industry. Probably, the miracles really exist, and the wishes made on the Christmas Eve will necessarily come true. In fact any of us has once thought that it would be fine if new technologies come to our life constantly and we will celebrate each Christmas being the citizen of absolutely new and different world! But in fact it is so and this year was really good, and so, let's see the New Year in and celebrate Christmas. The holiday filled with the fun, sparkling with the happiness and smiles is close at hand.

We congratulate you our dear readers of Ecommerce Journal! Merry Christmas and Happy New Year!

Arthur Dunhill, Chief Editor of Ecommerce Journal