INSTITUTIONAL SECURITY OF PAYMENT SERVICE IN RUSSIA: JUSTIFICATION FOR ACQUIRING

Abstract

The author analyzes the current payment system in Russia, including through acquiring operations. The purpose of the article is to study the current state of institutional provision of payment systems in the country, and a comprehensive analysis of the provision of payment services with preferential graphic data on non-cash payments of the Russian Federation through the Bank of Russia payment system and private payment systems served as a research method. Based on the analysis of established practice, the rapid spread of bank cards is evidence that this form of payment is beneficial to the main participants of the payment system. However, the country has a rather low level of quality of the banking services provided, and with the current low competition this allows domestic credit institutions to minimize efforts to attract a client. The author makes proposals on the need to improve further calculations in Russia through the use of electronic payments in order to simplify the calculations and accelerate the turnover of money by economic entities.