The national system of payment cards: an analysis and prospects of development at the present stage

About the author:

Alexey G. Kutsev, Cand. Sci. (Econ.), Associate Professor, Financial and Economic Institute, University of Tyumen; a.g.kucev@utmn.ru

Abstract:

The article focuses on the history of national payment card system, particularly on its utility value and implementation prerequisites in Russia, and on previous initatives in the sphere of association of Russian processing systems. The prospects and stages of formation of national processing system are being studied along with its influence on economic and national security of Russia. Current strategy of development of national processing system defines time frames set for its implementation and its influence on social and economical growth in the country. Special attention is paid to the approach of the Bank of Russia that for the first time does not take into account interests of lobbyists from commercial structures that have been operating in this market sphere for quite a while. The measures taken at the country level give us the reason to consider the project a very up to date decision to create independent and stable system of clearing transactions based on payment cards. The risks of possible market monopolization by NSPK (Natsionalnaya Sistema Platezhnykh Kart, National System of Payment Cards) JSC controlled by the government level are evaluated.

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