OREANDA-NEWS. October 21, 2014. The third annual eCom21 conference will be held in Riga. This is the biggest e-commerce forum in the Baltic Region; it takes place under the patronage of Rietumu Bank.

This year the conference will be dedicated to one of the most topical and prospective trends of e-commerce – electronic money.

The key subject of the conference will be Money 2.0. Reports, speeches and discussions will be dedicated to electronic money, which is increasingly more widely used in the world.

“This is one of the most revolutionary things in e-commerce. The concept of electronic money is a recent phenomenon. At present, according to some estimations, the volume of transactions with the use of e-money is hundreds of billions of dollars a year and the figure keeps growing. Figuratively speaking, this market is a concentration of huge energy – human, financial and technological one,” says Ruslan Stecyuk, Head of the Organising Committee of eCom21 and First Vice-president of Rietumu Bank.

In view of the rapid development of electronic money, entrepreneurs working in this field have to tackle a lot of issues. These pertain to the legal regulation and things such as the pegging of e-currencies to traditional fiat currencies, the compatibility of virtual and real means of payment, and the prospects for using paid services in social networks and the reliability and safety of e-money. All of these aspects will be touched upon at the conference in Riga.

As usual, a lot of attention at eCom21 will not only be devoted to the official part, but also to the possibilities of informal communication and the exchange of practical experience. Guests of the conference will be able to analyse the processes going on, establish new business ties and contacts.

Speeches will be held by spokespersons from Visa and MasterCard, EComm Pay, BitCoin, China Union Pay, Yandex.Money, Money.Mail.ru, QIWI, Payonline, representatives of state regulators from several European countries, lawyers, experts of consulting companies, IT professionals, auditors, top managers of leading European and Russian companies for servicing online payments.

The general partner of eCom21 is traditionally the international provider of payment solutions –EcommPay.

“The e-commerce market is growing by 25-35% a year on average. This is happening not only due to its organic development, but also due to a gradual inflow into this field from the traditional offline business. Gradually but steadily, the internet is leaving us with no choice: e-commerce offers the fastest, most beneficial and efficient way to acquire goods and services. And electronic money forms an integral part of it, contributing to the evolution of and new standards for the exchange of goods, forms of payments, capital flow systems. and even changing the very perception of traditional money in the process of their transformation from fiat to non-fiat money," says Dmitry Sinkovich, ECommPay Operations Director.

The eCom21 conference is also supported by the QIWI payment system, the RBC Medial Holding and Banki.ru - the biggest banking resource of Runet. Last year the forum gathered together about 500 participants from 25 countries – the CIS, Europe and other regions of the world.