ChronoPay, B.V. a leading Online Payment Services Provider, announced its sponsorship of the 1st Russian Nationwide Conference "E-COMMERCE IN 2005" which took place at the Presidential Hotel from the 6th-7th of October.

The event was arranged by www.Oborot.ru with the support of FinMarket News Agency and the Internet resource www.Subscribe.ru. The conference was sponsored by JSC ChronoPay. Representatives from preeminent Russian Internet projects, as well as many IT firms participated in the conference. The core purpose of the conference was to convene the recognized leaders in e-commerce and to encourage open discussions and cooperation regarding fundamental business issues, which are common to all participants.

The first day of the conference focused on discussions related to recent trends in the e-commerce market. The participants evaluated the primary market indicators and suggested potential guidelines for successfully navigating the business terrain, in an environment where new players are continuously entering the field.

Denis Sotin, ChronoPay's Head of E-commerce Production Department and Denis Nazarov, Director of Communications presented a report on the topic of "Bank Card Acceptance", which revealed evidence of increased acceptance by users to making payments by bank cards via the Internet. The presentation also addressed issues related to the security of Bank Card usage. The Report concluded that greater adoption of Bank Card usage will be necessary for Internet Merchants to achieve their full potential.

The primary focus of the second day of the conference was the development of new e-projects in the sphere of trade and services, the logistics of operating a retail e-shop, the promotion of existing e-shops and a number of other e-commerce challenges currently being faced by Processors and Merchants. Many ideas were presented and practical decisions were discussed for succeeding in an environment of rapid change.

In keeping with the spirit of the conference, ChronoPay entered into a number of preliminary cooperation agreements with other participants, with the objective to develop shared strategies for success in the evolving e-commerce industry. These types of cooperative relationships are becoming widely accepted as a strategy for meeting common challenges and developing more advanced products and services. Having analyzed the preliminary results of the 1st Russian Nationwide Conference, the organizers announced their intentions to make it an annual event. The next conference on E-COMMERCE is planned for the fall of 2006.

"This event was a powerful opportunity for ChronoPay to gain recognition as a leader in the e-commerce industry", said Ivan Glazachev, ChronoPay's Director of Business Development. "As a chief sponsor of the event, we were able to play a key role in advancing the goals of the conference, while positioning the company to attract solid Strategic Partnerships. We look forward to participating again next year", said Mr. Glazachev.