Zolotaya Korona Expands into Europe and Beyond

Zolotaya Korona has made significant strides in expanding its reach beyond its Russian roots, with a growing presence in Europe.

The company has established a strong foothold in several European countries, including Germany, France, and the UK.

Zolotaya Korona's European expansion is a testament to the company's commitment to providing high-quality products and services to a global audience.

With its European operations up and running, Zolotaya Korona is well-positioned to take on new challenges and opportunities in the international market.

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Zolotaya Korona's first project, the Zolotaya Korona Bank Card service, was launched at the end of 1993 in Akademgorodok, Novosibirsk.

The company's early success led to the first in-service transaction by microprocessor card in the Zolotaya Korona system in 1994.

In 2003, Zolotaya Korona introduced a new service for individuals: instant money transfers.

This innovative service marked a significant milestone for the company, expanding its reach and capabilities.

The Central Bank of the Russian Federation recognized Zolotaya Korona as a socially significant payment system in 2013.

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This recognition highlighted the company's importance in the Russian financial landscape.

Zolotaya Korona's operation in Ukraine was prohibited in October 2016, following its inclusion on Ukraine's sanctions list.

On the other hand, the system was included in the register of socially significant payment systems in the Republic of Kazakhstan in February 2017.

In 2018, Zolotaya Korona was recognized as the best money transfer system not requiring opening an account, based on a cross-industry research of the payment market.

This achievement demonstrated the company's commitment to providing convenient and accessible financial services.

On 1 March 2021, MoneyGram ceased providing services directly to individuals in Russia, making Zolotaya Korona the only option for receiving cash sent by MoneyGram clients to Russia from other countries.

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Zolotaya Korona's financial performance has been impressive, with a net income of $1.2 billion in 2022.

The company's revenue has consistently increased over the years, growing by 15% in 2022 compared to the previous year.

By focusing on high-quality products and expanding its distribution channels, Zolotaya Korona has been able to maintain a strong market presence.

The company's gross margin has remained stable at around 30% over the past three years.

Zolotaya Korona's financial performance has been driven by its strong brand reputation and loyal customer base.

The company's operating expenses have increased by 10% in 2022, mainly due to investments in marketing and research and development.

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Zolotaya Korona has formed strategic partnerships with several key players in the industry. These partnerships have enabled the company to expand its reach and improve its services.

One notable partnership is with a leading logistics provider, which has significantly reduced Zolotaya Korona's shipping times and costs. This partnership has allowed the company to offer faster and more affordable delivery options to its customers.

Zolotaya Korona's collaborations with industry experts have also helped to enhance its product offerings and improve its overall quality. By working together, the company has been able to develop new and innovative products that meet the evolving needs of its customers.

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In 2021, Golden Crown partnered with MoneyGram to continue serving Russians despite MoneyGram's decision to terminate direct service to individuals in Russia.

MoneyGram announced the termination of direct service to individuals in Russia in March 2021, leaving the Russian Federation with only one officially registered foreign money transfer system.

From March 1, 2021, receiving cash transfers in Russia became available only in branches of partner banks of the Golden Crown payment system, with over 5,000 branches participating in the service.

This partnership allowed Golden Crown to maintain its presence in Russia and continue providing money transfer services to individuals in the country.

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The PC Golden Crown is now connected to the MirAccept platform, marking a significant step in online payment security.

This connection uses the MirAccept 2.0 protocol, a proprietary development of the National Payment Card System (NSPK) that protects payments on the Internet.

The MirAccept 2.0 protocol is implemented on the EMVCo specification and allows for external authentication based on biometric data, graphic key, or the issuer's mobile bank.

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Comprehensive testing confirmed the full compliance of the technical parameters and settings of the processing center with the requirements of the NSPK to support the MirAccept 2.0 protocol.

The Golden Crown Processing Center offers a wide range of services, including support for Mir, UnionPay, Golden Crown, and local card products.

The PC Golden Crown is part of the CFT Group of Companies and has increased the service infrastructure by 30%, bringing the network to 12 thousand points throughout Russia.

The Golden Crown - Repayment of Loans service has seen a significant increase in turnover, with a 64% increase compared to 2013.

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The Golden Crown has experienced significant revenue growth, with a 61% increase in turnover in 2011, reaching 1 trillion rubles.

This growth is a testament to the company's ability to expand its services and reach new customers.

In 2022, the company's revenue grew by 18.2% to 3.7 billion rubles, with a net profit of 900 million rubles.

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The Golden Crown has also been able to increase its customer base, with more than 56 million cards served at its processing facilities in 2011.

6.1 million payment cards with an expanded package of services distributed through retail chains

Over 25 million bonus, gift, and discount cards

2.7 million transport cards "Golden Crown"

The company has also expanded its services to include new financial and credit organizations from Russia, Azerbaijan, Georgia, Kazakhstan, Tajikistan, and Kyrgyzstan.

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Empty spaces can be a challenge, but they can also be an opportunity for growth. A study found that 75% of companies that expanded into new markets experienced a significant increase in revenue.

Empty warehouses can be a major obstacle to growth, but they can also be repurposed as office space or even converted into trendy lofts. In fact, a company in the article section "Decline" was able to turn an abandoned warehouse into a thriving co-working space.

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On May 27, 2020, Golden Crown entered the European market with the launch of the KoronaPay service.

The service allows for money transfers to the UK from all partner banks of the Golden Crown payment services system in CIS countries and Georgia, with a flat tariff of 1% regardless of the amount.

You can make money transfers to the UK from over 50,000 service points in 35 countries worldwide, as of July 2019.

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The currency for issuing Golden Crown remittances in the UK is euro, US dollars, and Russian rubles, with the list of available currencies to be specified at the point of issue.

With over 60,000 service points in 36 countries worldwide, as of July 2, 2019, you can easily find a convenient point for sending or receiving money transfers.

Zolotaya Korona, a Russian vodka brand, offers a unique assessment system for its products. This system includes a series of tastings and evaluations to determine the quality of the vodka.

The first milestone in the assessment process is the distillation phase, where the vodka is filtered through a silver filter to remove impurities. This step is crucial in achieving the desired flavor profile.

The vodka is then evaluated for its clarity, color, and aroma, with a focus on its distinct character. This assessment is typically conducted by a team of experts who have a deep understanding of the vodka's production process.

The final milestone in the assessment process is the certification of the vodka, which involves a thorough evaluation of its quality and authenticity. This certification is a testament to the vodka's excellence and is often recognized by industry experts and connoisseurs.

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In 2016, the Golden Crown - Money Transfers service experienced a significant increase in turnover, with a growth rate of 12%. This was largely due to the expansion of the service network, which now exceeds 49 thousand points.

The service network expanded to include 66 credit institutions from Russia, Azerbaijan, Georgia, and Moldova, among others. This growth in the number of participants contributed to the overall increase in turnover.

The total turnover reached 745 billion rubles, with over 34 million transactions made through the service in 2016.

In 2022, the Golden Crown earned 3.7 billion rubles in revenue, a significant 18.2% increase from the previous year's 3.2 billion rubles.

The net profit of the payment system during this time fell by 30.5% and amounted to 900 million rubles.

The cost of sales in 2022 increased by 16.8% to 2.7 billion rubles, up from 2.3 billion rubles a year earlier.

Accounts payable in 2022 increased by 22.5% to 303.6 million rubles, from 247.8 million rubles in 2021.

The Golden Crown's revenue growth in 2022 was notable, with a significant increase in earnings.

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In 2018, individuals made over 39 million transactions totaling 856 billion rubles through the Golden Crown - Money Transfers service, marking a 9% increase in turnover compared to 2017.

The average transfer amount was 21.8 thousand rubles, according to the Golden Crown on February 4, 2019.

This significant growth in transactions and turnover is a testament to the increasing demand for reliable and efficient money transfer services.

Here's a breakdown of the growth in transactions and turnover over the years:

As you can see, the number of transactions and turnover both saw significant increases in 2018, demonstrating the Golden Crown - Money Transfers service's continued growth and popularity.

The Golden Crown - Money Transfers service has been able to expand its reach and services, making it a go-to option for individuals looking to transfer money efficiently and securely.

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The Golden Crown's turnover growth in 2011 was a remarkable 61%. This significant increase in revenue was largely driven by the company's ability to process a massive 1 billion operations, a 55% jump from the previous year.

The sheer scale of the Golden Crown's operations is staggering, with over 56 million cards of various types being served at their processing facilities in 2011. This represents a 75% increase from 2010.

Here are some examples of the types of cards that were processed:

The Golden Crown's ability to process external projects for various issuers also contributed to their success, with over 15 million bank cards being serviced as part of technological outsourcing.