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ИД «Финансы и кредит»






Finance and Credit

Analyzing the impact of payments infrastructure on the efficiency of the national payment system functioning

Vol. 30, Iss. 3, MARCH 2024

Received: 15 October 2020

Received in revised form: 28 October 2020

Accepted: 5 November 2020

Available online: 28 March 2024


JEL Classification: E42

Pages: 684–702


Svetlana A. VARVUS Financial University under Government of Russian Federation, Moscow, Russian Federation


Anzhelika P. BUEVICH Financial University under Government of Russian Federation, Moscow, Russian Federation


Subject. We consider the status, problems, trends and prospects for the development of the national payment system of the Russian Federation.
Objectives. We focus on disclosing the content and problems of the modern stage of operation of the national payment system of the Russian Federation, and the analysis of its possible prospects for development.
Methods. The study employs the institutional and systems approach to scientific knowledge. On its basis, we apply the situational, factor, statistical and other methods of analysis.
Results. The existing national payment system is a complex and not quite independent entity. It is demonstrated by the practice of numerous legislative and regulatory supporting mechanisms that need not only the perception and assimilation of international experience, but also the establishment of proper in-house practice. Regions of the country have significant differences in the quality of payment services provided.
Conclusions. To solve the problems of prospective development of the national payment system of the Russian Federation, it is necessary to increase its centralization, create a mobile universal and internally consistent and receptive to innovation legal mechanism of functioning. The revival and growth of the country's economy, stimulating the demand and supply of payment services, will facilitate the solutions. Further development of the system depends on the increase in the scale of operation, alignment of regional and corporate levels of service for individuals and business entities, qualitative improvement, taking into account the international standards and the best foreign practices.

Keywords: national payment system, payments infrastructure, payment card, Internet banking


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