"In the next 2 years, international settlements will switch to independent solutions"

Stanislav Lazarev, Deputy General Director for Sales at A7, told Izvestia how cross-border business transactions are being handled today, what is changing in the global payment infrastructure and how to find a balance between working with CFA and classic payment instruments.

— How do you assess the current situation in the cross-border payments market for Russian businesses? How has the calculation structure changed?

— The introduction of new Western restrictions against major financial market participants several years ago triggered the transformation of the global settlement system, and the request for these changes arose quite a long time ago. The market for cross-border transactions has begun to change significantly, and flexible distributed routes and alternative payment instruments have replaced a single global system under the control of one or two countries.

The settlement structure has changed dramatically — the share of the ruble in foreign trade transactions of importers has exceeded 53%, and together with the currencies of friendly countries, it is already 85%.

Asia and the Middle East are expected to be the leaders in geography: China accounts for 32% of our company's payments, Hong Kong - 19%, and the UAE — 16%.

— The whole market is going digital, everyone is talking about cryptocurrencies, CFA, tokenization of the economy, and you have a bill of exchange that is several centuries old. Why did the choice fall on him? Why such an unusual choice?

— You're right, the bill is over 700 years old. But it has several advantages that we use it for. It is regulated by the Geneva Convention of 1930, and more than 30 countries recognize its legal force in the courts. It is not linked to a specific payment method, and it cannot be prohibited.

In the case of A7, a promissory note can both be a payment method and generate income. For example: a company pays for goods in China in August, and we would like to fix the yuan exchange rate in June. The client buys a bill of exchange for the required amount, receives 10% per annum for two months, and then closes the deal with his foreign counterparty in August.

Promissory notes are also an excellent tool for hedging risks. When the RUSFAR CNY rate soared to 44% per annum at the beginning of the year due to a lack of liquidity, importers who bought our bills in advance passed this turbulent period without losses.

Finally, it is negotiable, meaning that company 1 can transfer it to company 2, and that company can transfer it to company 3. In other words, one bill can close a chain of transactions at once.

— Your customer base includes more than 10 thousand participants of foreign economic activity. Who are your key customers? What kind of business does A7 work with?

— Initially, the A7 company focused on the needs of large businesses, but then small and medium-sized businesses came to us en masse. Moreover, we see the request not only in the capital. Companies in the regions have become more professional in their approach to foreign economic activity: they diversify currencies, plan liquidity in advance, and use several payment routes simultaneously. The business needs not just a transfer service, but an international settlement partner, which is exactly what we are building in the regions.

Now we have 10 offices in different parts of the country — from Vladivostok to Krasnodar. Initially, we relied on online services, and this format remains. But we understand that complex and customized products, and cross-border settlements are exactly what customers want to discuss with the manager personally. Therefore, it was decided to develop a network of representative offices.

— Two years ago, market participants noted that 60-80% of transactions to China are blocked. The number of failures was significant in other areas as well. Do such situations arise now? What does your company do to ensure that payments are made on time?

— The risk of blockages when trying to make a payment directly through major Chinese banks still remains high and reaches 60-80%, and in the market as a whole, up to 45% of transactions are returned or suspended due to the risk of secondary sanctions. But today the situation is fundamentally different in that the market has learned to work systematically. Businesses find alternative payment routes, including through banks in friendly countries, use national currencies, and use the services of payment agents.

The risk of failure can be minimized: the documents must be issued according to the requirements of the recipient bank, the purpose of the payment must be correct, the documents must not contain Cyrillic letters, the counterparty and the product category must not enter the areas of increased compliance risk, and it is also important that there were no failures along the route earlier.

A7 helps clients check all documents before sending a payment, and then provides closing documents for currency control. We are actively investing in compliance automation. The faster the system analyzes the possible risk during the payment and the correctness of the accompanying documents, the faster the customer receives money or pays for the delivery.

Currently, the speed of passing funds directly depends on the chosen route. On stable, proven routes, calculations take only 1-2 business days, and our absolute record on the Chinese route was 1 hour and 40 minutes. At the same time, for more complex transactions or high-risk product categories, we recommend that customers deposit up to a week. This time is necessary for compliance and manual verification of documents to ensure the safety of the operation.

And, of course, since almost all processes require individual approaches, we pay great attention to the maintenance of each operation.

— We are talking about business, exporters, importers. And what does your activity bring to ordinary people?

— For individuals, we are developing the A7 Finance retail network. Currently, 11 offices have been opened in Moscow and the 12th one has recently opened in Krasnodar. In the future, we plan to open branches in a number of other million-plus cities so that customers can solve any issue near their homes.

In the offices of A7 Finance, you can exchange currency, pay for medical treatment, education, a hotel abroad, or, for example, buy a car. In addition, classic PSB banking services are also available in the offices.

Individuals will also be able to purchase gold from the Rosvexel platform, created with the participation of the Russian Ministry of Finance, PSB Bank and A7, at the A7 Finance office.

— A7 was created in the fall of 2024, and in 2026 it occupies almost a fifth of the Russian international settlements market. How does a young company handle such volumes of tasks?

— Such volumes and growth rates require a powerful human resource. We are well aware that it is impossible for a small team to efficiently process almost a fifth of the country's cross-border settlement market. Today, A7 employs more than 2,500 people.

At the same time, the company is really young, we have been working since the end of 2024, and now we continue to expand the team that will develop existing products and launch new services for businesses and citizens. We invite the best specialists in their fields to join the team. Their experience, business reputation, ability to look at the market strategically, and desire to grow are important to us. Our operational activities can be called unique without exaggeration, and the selection for the company is tough, as well as further control over the implementation of tasks. This applies to all positions in different areas of work, as we must meet the high requirements of our clients and foreign partners.

The company offers good conditions, opportunities for growth, vertical and horizontal mobility, so that any specialist can find their niche and open up as a professional. It is important for us to maintain an atmosphere in which everyone can work comfortably. Therefore, we expect our employees to take a responsible approach to business, continue their training, and develop both professionally and in terms of developing flexible skills. This is required by the market as a whole — it does not stand still.

— How do you think the international settlements market will develop in the next one or two years? What areas and solutions will be the main ones for business in the medium term?

— If we look at the horizon of one to two years, the final transition to alternative and independent payment solutions. The pressure of Western compliance and the risks of secondary sanctions will not disappear. The winner will be the one who learns how to analyze the risks of a transaction and the correctness of documents in minutes, completely eliminating errors in registration even before sending funds.

Digital solutions, including stablecoins, will be developed. Our A7A5 is currently the only ruble—denominated stablecoin that has received CFA status for cross-border settlements.

At the same time, the launch of state regulation of this sector opens up clear practical advantages for customers. These are the emergence of legal entry points through licensed intermediaries, reduction of counterparty risks, and full transparency in accounting, reserves, and handling rules. Clear rules of the game will ensure an additional influx of institutional players, which will increase liquidity and expand the product line.

And the course for settlements in national currencies through regional financial institutions of friendly countries will be maintained.

At the same time, integrated solutions for foreign economic activity will benefit in the end. It is no longer enough for a business to simply transfer money from an account to an account. Importers and exporters need a single window where issues of settlements, compliance, logistics, document management and trade finance are closed.