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One of the most important factors for sustainable growth of an economy is the safe and efficient realization of payments. But that requires adequate payment infrastructure and an appropriate regulatory framework. The NBRSM has a key role in all of this. For that purpose, a number of activities have been undertaken in the past years in the direction of digitalization and promotion of payment services and in order to harmonize the national legislation with the legislation of the European Union. The data for individuals and legal entities show increased application of digitalization in the payment services market in recent years. The share of the new ways of payment for goods and services that do not include cash exchange is increasing, i.e. the application of non-cash payment instruments in the payment operations is increasing. For that purpose, in this paper is made an analysis of the share of non-cash payment instruments in the total value of non-cash payments, as well as the share of non-cash payment instruments in the total number of non-cash payments. Also, is made a comparative analysis for their participation in the past years, but also with certain countries.

Anytime an individual makes a cash payment, he or she needs to think about the amount to be paid, the coins and notes which are available, and the amount of change. For central banks and retail stores, it is of interest to understand how this individual choice process works. The literature of currency use concerns primarily theory, in the sense that, given certain assumptions, one can derive an optimal denomination range.There is no empirical study which deals with the actual use of coins and notes, given a specific denomination range. In this paper we present such a study, which is based on two rather unique data sets. We use descriptive statistics and a sophisticated model, which is designed for this specific purpose, to see whether two basic premises of the theories on optimal ranges are valid. In contrast to the widely accepted assumptions, we find that individuals appear not to pay efficiently and that they are also not indifferent to the use of coins and notes. In other words, some notes and coins are used less often than expected given the payment situation.

Analysis of the present condition and prospects of development of the monetary sector of the Russian economy. Quantitative parameters of aggregate turnover, including the value of cash and non-cash it. Researched issues restricting cash advance industry in Russia and other countries; the problems encountered by foreign States in imposing administrative limits on cash payments; provides specific recommendations and identified risks imposing such restrictions in Russia. The article deals with topical issues of optimization of structure of aggregate turnover. Analyzing the development of money turnover, the role and the place of cash in the economy, the author explored the basic approaches to the determination and regulation of money turnover, proposed a new approach to ensure transparency in money flows. Particularly promising cash flow optimization are: a) measures aimed at improving the cash turnover (including maintaining the stability of the national currency, improving the procedures for issuing and withdrawing money from circulation, determine the optimal structure of monetary aggregates, etc.) and b) development of cashless money turnover. The author's position is presented on the future of the scientific basis and practical realization of the optimal ratio of cash and cashless money turnover in Russia and other countries. In particular, felt the need to increase information transparency, openness international information exchange in order to improve monetary policy by countries at the national and international level. To develop common approaches (models) of the analysis and forecasting of financial markets, as well as the establishment of an international coordination centre responsible for the collection, verification and access to public information databases for the cross-country studies of banking and financial and monetary sphere.

This work investigates the relationships between the retail payment system, monetary aggregates and economic activity in Spain from a long-run perspective. This approach is considered from the perspective of the transformations favored by ICT in the payment system, which incorporates increasingly more and more cashless instruments. The methodology used is based on cointegration analysis and error correction models. Likewise, a new indicator of some trends in the implementation of cashless transactions in payment systems is proposed; this measure has been applied to Spain and other European countries. With respect to long-run relationships, we demonstrate the relevant (and direct) impact of changes in the monetary system and national income on the value of cashless transactions. Regarding the short-run, the most important relationships in terms of the value of cashless transactions are those related to the real estate sector. The empirical results evidence the intensive progress of the cashless society in Spain, where the banking sector, regulatory changes and ICT development have played a key role.

The discussion of online payments, while ultimately being a key issue for the future Information SuperHighway, is as significant now as it ever will be. The explosive increase in the use of the Internet has seen the emergence of commercial services and pressures previously restricted to Compuserve and the like. Many predictions see this burgeoning electronic marketplace becoming a significant component of the world economy. However this can only happen once two key problems have been addressed, namely, protecting property rights and Making payments. This has led to a frantic battle for payment mechanisms that can provide the new medium with the means of conducting transactions. Briefly examines the inexorable evolution of money into electronic forms and discusses the alternative types of payment mechanisms proposed, on trial or in use on the Internet. Identifies the key commercial requirements that successful use of the Internet will impose on a payment mechanism, and use these requirements to evaluate each of the mechanisms to determine which (if any) are really suitable for electronic commerce.