Subject. The article considers problematic aspects of modern public administration in the field of cross-border payments in the Russian Federation to formulate proposals for its improvement. Objectives. The purposes of the study are to perform a comprehensive analysis of public administration addressing the cross-border payments, identify the main challenges for the development of cross-border payments and areas requiring further work to respond to these challenges. Methods. The study draws on methods of statistical, historical, and comparative analysis. Results. The analysis enabled to point out the main groups of challenges (legal, technological, personnel and financial) faced by Russia in the area of cross-border payments. Furthermore, the paper examined areas necessitating works to respond to these challenges. Conclusions. It is crucial to introduce new instruments in the field of cross-border payments, to further research on the effectiveness of the introduced instruments, as data on their operation is collected.
Keywords: international payments, State policy, payment instrument, State control
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