Survey of Payment Systems in H1 2023

Обзор платежных систем в первой половине 2023 г

Sergey A. Zubov
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Sergey A. Zubov: Russian Presidential Academy of National Economy and Public Administration

Russian Economic Development, 2023, issue 9, 33-37

Abstract: In 2023, the Russian market of payment systems keeps evolving at a rapid pace. Improvements in technology and updates of the regulatory framework result in major market changes. The confrontation between traditional banks and new fintech actors, as well as increasing competition between payment systems, are generating new technologies and services that are changing the way users interact with financial instruments. Users abandon traditional banking services more often in favor of mobile applications and other modern transfers, taking advantage of new opportunities and comfort provided by startups and large companies. In these conditions, the regulator has to take into account the evolution of the market and propose new rules and standards for safe and stable operation of payment systems.

Keywords: Russian banking sector; payment systems; operators of payment systems; cryptocurrency; digital ruble; contactless payment (search for similar items in EconPapers)
JEL-codes: E42 E58 G21 (search for similar items in EconPapers)
Date: 2023
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