Financial technologies in the field of retail payments: Current trends and perspectives in EU and Russia

In: Voprosy ėkonomiki: ežemesjačnyj žurnal, Heft 3, S. 48-63

Abstract

The article analyzes tendencies of national payment systems development in the European Union and Russia: electronic and deposit money, bank cards, financial technologies in the field of retail payments. The author identifies factors that stimulate the development of cashless retail payments and the national payment card systems in the European Union, as well as the problems and prospects of this sector forming in Russia. Recommendations on the development of a competitive environment and financial technologies in the field of retail payments in Russia are proposed.