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Company history

2003

Pavel Vrublevsky and his companions using his experience in building IT projects, establish the company ChronoPay B.V. in the Netherlands, with its headquarters in Amsterdam.

2004

The company starts operating on the European e-commerce market. The first partner acquiring bank was PAGO (Deutsche Bank AG, Germany). Templatemonster, the world's largest brand offering ready-made web design solutions, was one of the first large customers. Thanks largely to this particular project, ChronoPay laid the foundation for the best Anti-Fraud solution currently available on the Russian market. This is because online fraudsters would often buy ready-made templates of online stores using a stolen bank card, and then try to transfer money from it via such templates. Many carders all over the world have tried to use Templatemonster products, and ChronoPay has been fighting off these attempts for many years, and has learnt to detect fraudulent transactions with a high degree of certainty. Over 10 years of continuous fighting against fraudsters, finally enabled us to create the ChronoMethod Anti-Fraud system with an extremely high reliability level.

2005

ChronoPay extends its regional chain of representative offices and opens offices in Barcelona and Rome. In Latvia, the Company starts a partnership with the acquirer PAREX Banka.

The success achieved in Western and Eastern Europe prompt the company to enter the promising Russian market, which was in its formative stage.

In Moscow, the chief executives of ChronoPay and UCS sign an agreement for the joint processing of electronic payments.

2006

Starting in this period, the Company begins its active development on the Russian market.

ChronoPay becomes a member of the National Association of E-Commerce Participants (NAECP), the largest industry association at that time. The Company sets up an E-Commerce Committee, which becomes the first targeted unit of the company.

ChronoPay holds dedicated conferences at the leading discussion sites of Russia, including the important Russian Web Forum, where the main industry players formed market using their combined efforts.

At that time, there was a difficult situation on the international music market, where Western recording companies were contesting the lawfulness of Russian online music stores. In particular, claims were filed against allofmp3.com, which was registered in Russia and complied with Russian laws. It is important to mention that by that time almost all the largest music stores from Russia, including allofmp3.com, were clients of ChronoPay. Public activity and efforts taken by ChronoPay to organize an effective dialog between the digital content rightholders and distributors resulted in adoption of Part 4 of the Civil Code of the Russian Federation, which governs legal relations between copyright parties.

At the same time, Ivan Shapovalov, the only Russian pop producer well-known in the West, remembered as the first mentor of the legendary group Tatu, whose songs are still known in many countries on every continent, took part in the Company's activities.

The efforts made and their significant results were recognized by the RuNet Award "For a Contribution to E‑Commerce Development".

2007

This year was the most important year for the whole e‑commerce market.

With the appearance of electronic airline tickets, online payment for goods and services using bank cards began to become the norm for Russians.

ChronoPay extends its line of payment tools by connecting the e-cash systems Yandex.Money and WebMoney, and actively develops its branch-specific e-commerce solutions.

The World Wildlife Fund (WWF) is connected to the payment platform.

2008

ChronoPay continues developing its payment infrastructure by connecting new payment instruments, including foreign ones, such as MoneyBookers (EU) and AliPay (China), to Russian online platforms.

In 2008, the Company started its collaboration with the acquiring center Multicarta (VTB24).

MTS connects to ChronoPay, becoming the first operator of the Big Three to offer subscribers the possibility of paying online with bank cards, thus starting to change their financial habits. In the same year, EA (Electronic Arts), Stream, and Beeline-WiFi become Company clients.

2009

During this time, the Company is enjoying rapid growth - 500 RSOs are already using its payment solution on their web resources. Integration with the CMS 1C-Bitrix provided a considerable increase in the number of customers.

During the same 12 months, such large players as Mosenergosbyt, Dostavka.Ru, Yota, SkyLink, and others have connected to ChronoPay.

At the same time, ChronoPay is starting to provide active support to socially significant and professional projects. The Company becomes a member of the Russian Association of Electronic Communications (RAEC), where it is directly involved in shaping its structure.

The Company is continuing its international expansion and opens representative offices in the USA and Brazil. In Azerbaijan, ChronoPay takes part in the start of online card payments. Within less than a year, six national banks in the country have started to process online transactions.

The Company's efforts bring massive results – its annual turnover grows by 200 %.

2010

Transaero, SoftKey, Greenpeace, Gosloto, and others connect to the ChronoPay platform.

The twenty millionth transaction goes through ChronoPay payment gateway. As estimated by CNews analysts, the market share of ChronoPay reaches 45%. At the same time, the system suffers numerous powerful hacker attacks, the purpose of which is to bring down processing and to steal payers' data. The experience and expertise of the Company's specialists made it possible to deflect these attacks, so clients did not notice any changes in service quality. That year, the Company substantially upgraded its payment processing software and considerably improved its protective mechanisms. Practical anti-hacking experience made it possible to fine-tune the security system and eliminate "bottlenecks". The Company showed a considerable increase in its annual turnover at the level of 170 %.

2011

The Company presents its new corporate website, which was developed by Vladimir Lipka's studio "Lipka and Friends".

In February, ChronoPay starts providing considerable support to the basketball movement in Russia, and together with SOLLERS becomes one of the first large external sponsors of the VTB League.

The Bank of Moscow becomes a new acquiring partner bank.

As an RAEC member, ChronoPay takes part in the establishment of two panels – for e-commerce and for information security and cybercrime.

The Company's specialists keep on working on enhancing service quality. As a result, the Sony Store, Philipp Plein and others become new clients of the company. As part of initiatives for the development of socially significant projects, ChronoPay manages to raise over forty million rubles for charity organizations.

2012

Citilink, one of the largest electronic stores, choses ChronoPay as the payment solution on its website.

ChronoPay becomes one of the first payment operators integrated with Sberbank's "Spasibo" ("Thank you") bonus program.

The Company extends its line of financial tools by connecting the InvoiceBox system of interbank money transfers.

Promsvyazbank, one of the largest acquirers in Russia, becomes a Partner Bank.

2013

ChronoPay celebrates its 10th anniversary on the e‑commerce market. In addition to RackSpace servers (USA), the Company employs capacities from InetU (Europe). The first European airline – AirBaltic – connects to the payment service.

The Company signs a partnership contract for acquiring services with Gazprombank.

In spite of the difficult economic situation, ChronoPay continues to support sporting events.

2014

The milestone 100 millionth transaction goes through the system. The payer receives a commemorative prize from ChronoPay and Stoloto, on whose website the payer made a bet. In the middle of the year, ChronoPay is the first to connect an online store in the Crimea. This was the travel operator "Mir Puteshestviy" (World of Travel).

During the year, ChronoPay introduces several new products to the market, including the ChronoIVR cloud service, which enables payments using a touch-tone phone.

The Company resumes its partnership plan and offers interested companies and individuals commission fees for connecting new clients to ChronoPay.

A simplified work scheme called ChronoXunsu (a facilitated model) is organized for small and medium-sized platforms. Using this, connecting to the service takes about 5 days, and all documents are managed within a "single window".

Together with two large Russian banks, the Company also organizes a unique service of online loan payment using the cards of any banks.

2015

ChronoPay becomes one of the TOP 10 payment platforms for US online stores.

In February, Forbes sums up the results of 2014 and compiles a rating of the 20 Most Expensive Runet Companies, where ChronoPay clients make up 25 %.

The Company's payment forms are localized for Italian and French buyers.

ChronoPay is certified as an IT company in the Ministry of Telecom and Mass Communications of the Russian Federation. This status is assigned to companies that deal with software development and support and 90 % of whose earnings come from such activities.

The Company and Tinkoff Bank conclude a partnership agreement for acquiring.

Alpari, an old partner of ChronoPay, again becomes one of the Company's clients.

Pavel Vrublevsky, the Company's founder, gives a lecture at the Strogino Technopark dedicated to the world of online payments and its threats. This seminar is Pavel's first after a long break.

In August, the Company localizes its main server capacities in the Russian Federation; before that time, processing was done in Europe and the US. This step was taken to bring its business processes into alignment with the Personal Data Law, which obliges all companies to store and process Russians' data in the territory of the country starting September 1, 2015.