Cashless payments system (national payment system). Payment systems of commercial banks

When conducting interbank settlements, three main methods are used. The first method consists in lending and debiting accounts opened by banks with a central bank, which is a specialized bank of banks. The second method involves lending and debiting interbank payments to nostro and loro accounts, opened by banks on a bilateral basis. The third method is lending and debiting of accounts opened with a correspondent bank that is a third party, or with a specialized settlement or clearing organization.

These methods of conducting interbank payments are determined by the structure of the payment system, which is typical for all countries with a two-tier banking system. Figure 2.1 shows the relationships and relationships between the main participants of the payment system. The main participants in the payment system include non-banking institutions, commercial banks and the central bank. Transferred funds include: liabilities of the central bank in the hands of the population and non-banking institutions (banknotes); deposits of commercial banks with the central bank (reserve balances of commercial banks); liabilities of banks in relation to the "non-banking public" (bank deposits); and banks' liabilities to other banks (deposits of correspondent banks).

Non-banking institution

availability

bank. Deposits

deposits with the Central Bank

availability

bank. Deposits

deposits with the Central Bank

Commercial Bank

availability

deposits with the Central Bank

deposits in KB

kB requirements

Obligations:

non-bank deposits

cB deposits

loans from the Central Bank

availability

deposits with the Central Bank

deposits in KB

kB requirements

Obligations:

non-bank deposits

cB deposits

loans from the Central Bank

central bank

bank requirements

Obligations:

banknotes

banks reserves

Fig. 2.1. Payment system participants, message flows and funds being transferred

In the Russian Federation, settlements between enterprises are carried out by commercial banks and other credit institutions. Regulations on non-cash payments in the Russian Federation. Letter of the Central Bank of the Russian Federation of July 9, 1992 No. 14. . Settlements between banks in Russia are carried out through cash settlement centers created by the Central Bank of Russia in the republics, territories, regions, cities, and districts. In addition, settlement banking operations can also be carried out on correspondent accounts of banks opened by each other on the basis of interbank agreements.

Relations between the Bank of Russia, credit organizations and their customers are carried out on the basis of agreements of Articles 28, 30 of the Federal Law "On Banks and Banking Activities" dated February 3, 1996 No. 17-ФЗ .. Relations of the RCC, as a structural unit of the Central Bank of the Russian Federation, with its customers, including those with serviced credit organizations, are also being built on a contractual basis.

The relationship between a commercial bank and the Central Bank in the field of settlements is complicated by interest-free storage of funds and the technical imperfection of the Central Bank payment system. In this situation, the CB is trying to minimize the balance in its correspondent account, which ultimately affects the decrease in its liquidity.

The process of electronic payments in the Central Bank system is far from perfect. The very concept of “electronic document”, adopted around the world, including in the vast majority of developing countries, exists in theory, but is not fixed in the legislation.

We must pay tribute to the leadership of the Central Bank of the Russian Federation: it is now very seriously engaged in all aspects of its banking settlement system.

The priority task provided by the Central Bank in its development concept is to create a real-time gross settlement system (RTGS). Completed work on a plan for its implementation. The purpose of its creation is to establish a uniform system of operation for all regions of the system, uniform rules for settlements and a single technology for their implementation.

The implementation of the system is planned to begin in the first months of 1998 in the Moscow region - the most technologically advanced, most susceptible to promising technologies and concentrated the largest part of the market (approximately 80% of all payments and settlements).

The deployment of a real-time settlement system should turn the entire “pyramid” of interbank settlements in the regions, putting it on the foundation. Now banks are working in the traditional and familiar routine batch processing technology. Before making settlements through the institution of the Central Bank, they actually carry out “implicit clearing” by reading out mutual obligations. All this happens on a rather shaky legal basis; most often, banks do not even have corresponding agreements on opening 761 accounts. Further, the clearing results are formally carried out through the institutions of the Central Bank, and the same scheme applies: clearing at the regional level - making inter-regional payments, clearing at the inter-regional level - making payments to the Central Bank.

The architecture of the real-time settlement system will be two-tier: at the regional level, settlements will be closed to one, maximum two Central Bank settlement centers (most likely, they will be created on the basis of the current GRCC), and at the interregional level, these centers will operate through the Federal Settlement Center (FRC) )

The creation of a national payment system is necessary, but also do not forget about world experience in creating such systems. The national payment system, formed on modern banking technologies, is the basis for conducting settlement operations in the economy, but there should not be a monopoly of one payment system. World experience shows us that various systems created by credit and non-credit organizations may exist nearby. In modern payment systems abroad, central banks play a key role. M.P. Berezina Construction of payment systems abroad // Banking, 1997, No. 8 p.35

First, they organize and manage funds transfer systems that are specifically designed to provide real-time gross settlements on individual interbank liabilities. Moreover, the Central Bank is directly responsible for credit risk management.

Secondly, they provide interbank settlement services to the systems of multilateral offsetting of mutual claims identified at the end of a certain settlement cycle.

Thirdly, the Central Bank perform the functions of control and supervision of payment systems.

Fourth, the Central Bank provides loans to complete settlements.

Obviously, the creation of an optimal mechanism for the functioning of payment systems should be based on an active dialogue between the private and public sectors, as well as on the effectiveness of official supervision.

Payment systems created by commercial banks can be divided into large-scale money transfer systems, systems based on the use of plastic cards and completely new systems based on digital-cash money, payments through which are made via the Internet. The main models of payment systems abroad are presented in the appendix (table No. 2).

The principles of building the payment systems listed above are similar, with a visible technological difference in the settlements. These principles are fully formed on the basis of the principles of cashless payments referred to in 1.1 ..

The Russian banking system has boldly stepped over many stages of development of the banking systems of Western countries, and at present, the level of automation of individual Russian banks simply amazes our centuries-old experience of Western colleagues. In Russia, the most advanced (of possible) technologies were applied to organize systems for transmitting payment information and calculating them. This was especially evident in the creation of payment systems based on the use of plastic cards, which will be discussed in more detail in subsequent chapters.

Discipline: Finance and Credit
Type of work: Diploma
Subject: Payment systems of commercial banks

Chapter 1. Cashless payments and systems created by a commercial bank for their implementation.

1.1. Payment systems and their place in the structure of cashless payments

The development of the economy of any state today is impossible without a highly efficient monetary system and the use of modern payment mechanisms.

Practice shows that the everyday problems of financing, lending to the economy, budget execution, and also the tasks of the distant future, allow us to successfully solve the intensive

development of various forms of cashless payments.

Payment mechanism - the structure of the economy, which mediates \\ "metabolism \\" in

economic

system. Methods

payments are divided into cash and non-cash. Cashless payments

gradually

crowding out cash payments in

monetary systems of various countries. The main share of non-cash payments falls on commercial banks. It is they who own the most important

settlement and payment function in the state payment system.

If we consider the structure of the money supply in Russia, then

share indicator

non-cash funds is about 64% (see table 1.1). Considering the ratio of cash and non-cash money supply, we can conclude about stabilization

of this indicator: for the first half of 1996, fluctuations in the share of non-cash funds amounted to only 2.3%, about an average of 63.9%. On the one hand, these figures indicate

successful control of the Bank of Russia over the state of money circulation; on the other hand, the high proportion of cash underlines the underdeveloped credit and settlement relations in Russia

the economy. It should be noted that in a developed market economy, non-cash payments account for the bulk of the total payments. So, in the United States, cashless payments

almost 100 percent of all transactions are estimated

Table 1.1.

trillion rubles

Money supply M2, total

Monthly growth rate,%

Cash

Monthly growth rate,%

Cashless funds

Monthly growth rate,%

The close relationship between bank settlements and non-cash means of circulation suggests examining the essence of bank settlements, first of all, by defining them

places in the system of cashless payments.

Settlements made by a commercial bank can be determined from various points of view: firstly, from the point of view of the technology for making settlements, and secondly, in

depending on the particular organization of settlements and, thirdly, on the economic nature of bank settlements. In the economic literature, various definitions of banking

calculations. MPKrupnov define interbank payments as a \\ "system of cashless payments between banking institutions, based mainly on

direct money transfers and regular offsets of their mutual claims and obligations. In some cases, settlements between banks can be carried out with cash \\ "

O. Lavrushin discloses the organizational side of interbank settlements, presenting them as a \\ "set of payments through the settlement centers of the central bank,

specialized settlement and clearing organizations, as well as settlements through correspondent sub-accounts opened with other banks \\ "

In foreign literature, when characterizing interbank settlements, the concepts \\ "payment turnover \\" and \\ "payment system \\" are most often used. For example,

E.Rodeh under the payment turnover means \\ "the implementation of banks at the expense of customers and at their own expense in cash and non-cash payments \\"

This definition of payment turnover is not widespread in modern Russian literature, since traditionally it implies a different concept.

Ts.M. Khaitina defines the payment turnover as \\ "part of non-cash money ...

Pick up file

Chapter 1. Cashless payments and systems created by a commercial bank for their implementation.

1.1. Payment systems and their place in the structure of cashless payments.

The development of the economy of any state today is impossible without a highly efficient monetary system and the use of modern payment mechanisms. Practice shows that the everyday problems of financing, lending to the economy, budget execution, as well as the tasks of the distant future, can successfully solve the intensive development of various forms of cashless payments.

The payment mechanism is the structure of the economy that mediates the "metabolism" in the economic system. Payment methods are divided into cash and non-cash. Cashless payments are gradually replacing cash payments in the monetary systems of various countries. The main share of non-cash payments falls on commercial banks. They have the most important settlement and payment function in the state payment system.

If we consider the structure of the money supply in Russia, then the indicator of the share of non-cash funds is about 64% (see table 1.1). Considering the ratio of cash and non-cash money supply, we can conclude that this indicator is stabilizing: for the first half of 1996, fluctuations in the share of non-cash funds amounted to only 2.3%, about an average of 63.9%. On the one hand, these figures indicate the successful control of the Bank of Russia over the state of money circulation, and on the other hand, the high proportion of cash underlines the underdeveloped credit and settlement relations in the Russian economy. It should be noted that in a developed market economy, non-cash payments account for the bulk of the total payments. In the United States, for example, cashless payments account for an estimated 100 percent of all transactions.

Table 1.1.

trillion rub.

Money supply M2, total

Monthly growth rate,%

Cash

Monthly growth rate,%

Cashless funds

Monthly growth rate,%

The close relationship between bank settlements and non-cash means of circulation suggests examining the essence of bank settlements, primarily through determining their place in the system of non-cash payments.

Settlements made by a commercial bank can be determined from various points of view: firstly, from the point of view of the settlement technique, secondly, depending on the particular organization of settlements and thirdly, on the economic nature of bank settlements. In the economic literature, various definitions of bank settlements are given. M. P. Berezina and Yu. S. Krupnov define interbank settlements as "a system of cashless payments between banking institutions, based mainly on direct transfers of funds and regular offsets of their mutual claims and obligations. In some cases, settlements between banks can also be made with using cash. " O. I. Lavrushin discloses the organizational side of interbank settlements, presenting them as “the totality of payments through central bank settlement centers, specialized settlement and clearing organizations, as well as settlements through correspondent sub-accounts opened with other banks”.

In the foreign literature, when describing interbank settlements, the concepts “payment turnover” and “payment system” are most often used. For example, E. Rode under the payment turnover refers to "the implementation by banks at the expense of customers and at their own expense of cash and non-cash payments." This definition of payment turnover is not widespread in modern Russian literature, since traditionally it implies a different concept. Ts. M. Khaitina defines the payment turnover as “a part of non-cash cash circulation, including payments made by transferring money from the payer's account to the payee’s account, served by money in the form of means of payment”. In the opinion of A. M. Kosygo, “payment is part of the circulation of non-cash means of payment”, and G. A. Schwartz understands this definition as “the totality of payments using money as a means of payment”. Obviously, the main difference is that foreign economists associate the concept of payment turnover with interbank operations, and domestic - with the functioning of money as a means of payment.

The second term - "payment system" - on the contrary, is very widely used at present in almost all publications related to bank settlements. This concept is revealed by Western experts as "a set of mechanisms for fulfilling obligations undertaken by business entities when they acquire material or financial resources." Among these mechanisms, they include “institutions providing payment services, various instruments used to transmit payment instructions (including communication channels) and contractual relations between interested parties”. Interbank settlements are determined by them from a technological position. P. Van den Berg believes that "interbank transfers of funds are transfers in which the banks act as the payer and recipient of the payment. Such transfers occur either when banks make payments to each other in order to make payments to their customers or when they fulfill obligations of each other. in front of a friend, for example, in money market transactions. " G. D. Blomshtein and B. D. Summers give an almost similar definition, presenting interbank settlements in the form of settlements "between commercial banks carried out to meet customer payment needs and carried out through the interbank network of correspondent accounts."

You can dwell on the definition of non-cash payments O. I. Lavrushina - “The system of non-cash payments is a set of principles for organizing payments, the requirements for them, forms and methods of payments.” This definition characterizes not only the system of cashless payments, but also the payment systems created by the bank for their implementation.

In economic science, an ambiguous understanding of the principles of cashless payments has developed. Traditionally, these principles are formulated as follows: all settlements by enterprises and organizations through banks; payments are made, as a rule, after the shipment of products, the provision of services, the performance of work, the maturity of financial, credit and other monetary obligations; payments are made when funds are available on the payer's account or his right to a loan; the consent of the payer to write off funds from his account.

The ingrained principles of cashless payments were critically examined by V.I. Tarakanov, who divided all the principles into general economic and specific ones. The general economic principles include the efficiency and differentiation of cashless payments. Specific principles, according to V. I. Tarakanov, are divided into two groups. The first group does the organizational aspects of the calculations. The second group, revealing the economic foundations of payment transactions, “includes principles such as the target nature, urgency, security of payments.” This definition reflects the proximity of the principles of cashless payments and lending.

Participants in the International Banking Conference in Russia expressed their position on the principles of cashless payments. The recommendations of the conference indicate that the fundamental principles of settlements are the equality of all payments that are made with the consent of the payers.

Despite the heterogeneity of the definition of the principles of cashless payments, we can distinguish the following, most often found in the writings of domestic economists:

a prerequisite is the storage of funds in credit organizations;
principle of consent of the payer to write off funds;
principle of payments within own funds and received loans;
the principle of optimal speed of cashless payments;
principle of periodic priority of payment;
the principle of increasing the cost-effectiveness of conducting cashless payments.

Let's consider some principles in more detail. The principle of the optimal speed of cashless payments can be determined as follows. The speed of payment is largely due to its urgency. Urgency of payment means compliance with private deadlines. Suppose that with the deadline for payment of the obligation on June 20 and the deadline for crediting funds to the beneficiary's account on June 28, actually both stages of the payment were completed within these deadlines, and the urgency of payment was reached. But at the same time, the funds were in the calculations for a week, i.e. were withdrawn from useful economic turnover. Modern electronic equipment and especially automated communication channels give a new quality to the concept of urgency of payment: it creates the opportunity to combine the terms of the individual stages of payment together. Thus, the principle of urgency of payment develops into the principle of optimal payment speed. For example, when settling for goods, the payment rate is determined by interdependent indicators of the time the buyer received the goods, the period of payment, and the time the funds were credited to the supplier’s account. The optimal speed of cashless payments is achieved by the coincidence of the three listed indicators.

The prioritization of payments is due to the need to regulate the credit chain reaction. The loan is characterized by a direct chain reaction, when a bank loan provided to the purchasing enterprise is directed to pay the bills of the enterprise, along the entire chain of interconnected settlements. Along with the direct reaction, there is also a reverse chain reaction of the loan, when the company for some reason suspended payments on urgent obligations and this overdue debt spreads along the chain from enterprise to enterprise. In these conditions, the regulation of the sequence of payments has long been one of the burning issues of monetary policy. The solution to the problem of the sequence of payments lies in the division of payments into current and periodic. The fundamental drawback of the calendar sequence of payments is that it does not resolve the contradictions between current and periodic payments.

All the considered principles of cashless payments interact with the principle of increasing the cost-effectiveness of their maintenance. With the position of a commercial bank, the cost-effectiveness of conducting non-cash payments is determined by the ratio of the costs of this purpose to the amount of income from services provided to customers in their settlement transactions. At the macroeconomic level, an idea of \u200b\u200bthe cost-effectiveness of conducting cashless payments gives a coefficient that is determined by dividing the amount of costs by the amount of investment in the calculations. Consequently, the coefficient of cost-effectiveness of conducting cashless payments is directly proportional to the amount of necessary costs and inversely proportional to the amount of working capital of the economy and banks abstracted in the calculations.

The principle of increasing the cost-effectiveness of conducting non-cash payments permeates all other principles of non-cash payments. And this is natural: this principle, like other principles, is based on the category of time, and each gain in time is difficult to overestimate.

In its most general form, the national system of cashless payments can be divided into the following logical components:

central bank system;
system of non-state clearing and clearing houses (banks);
interbank branch settlement system.

In turn, the systems of non-state clearing and clearing houses (banks) have three more major components:

payment systems of international settlements;
plastic card payment systems;
payment systems for mutual settlements of stock market participants.

Their peculiarity lies in the fact that they are created and regulated not by the Central Bank, but by commercial organizations: international payments - by the governing bodies of the relevant payment systems (for example, SWIFT), plastic card payments - by the payment system bodies, mutual settlements of stock market participants - by the regulatory bodies given market. In addition, they have quite significant technological features.

The listed components are now available in almost any country in the world, with the exception of the most underdeveloped. We have them. It must be borne in mind that each component, as a rule, is not one single entity, but consists of many interacting legal entities, technological complexes, rules, protocols, etc. Usually the exception to this rule is the system of the Central Bank, but for now it is the only one in terms of departmental affiliation: the Central Bank of the Russian Federation is one legal entity, and all its institutions are subdivisions of this legal entity. In the system of the Central Bank of the Russian Federation, only payment rules approved by departmental instructions are uniform. Technologies, regulations and hardware and software systems, according to many representatives of the Central Bank, are still quite a motley “zoo”.

The essence of cashless payments and payment systems lies in the definition of money and their functions. From an economic point of view, the nature of non-cash and cash is the same - this is the M1 aggregate. At one time, Milton Friedman defined money as a social convention, but today we can add that money is still an information convention (means of payment are converted into pure information stored on different media). The creation of payment systems by banks does not give them the opportunity to earn share premium, it remains the prerogative of the state. But the state gives at the mercy, for the performance of settlement and payment functions, the opportunity to extract commercial banks income from servicing the money supply.

We can define banking payment systems in terms of their economic nature. From this perspective, banking payment systems are part of a cashless payment system based on their own principles, payment methods and payment methods and actively interacting with the entire cashless payment system.

1.2. Legal features of the existence of payment systems.

To consider directly the legal features of the existence of a system of cashless payments, it is necessary to understand the essence of legal relations arising in the implementation of settlement, payment and other operations. It is important to determine the scope of rights and obligations acquired by their entities, the limits of responsibility, as well as the features of the object.

In the broadest sense, the object of any legal relationship is understood as what the subjects enter into legal relations, i.e. something about which they become carriers of mutual rights and obligations. By virtue of the money circulation system established by law, "settlements between legal entities, as well as settlements with the participation of citizens related to their entrepreneurial activity, are made in non-cash order" (Clause 1 of Article 861 of the Civil Code of the Russian Federation). In non-cash payments, the transfer of money from the payer to the recipient is carried out not by direct transfer, but by money transfers through bank institutions. Such a transition should not be associated only with settlements in the form of payment orders: it also takes place during settlements by letter of credit, check, acceptance of a payment request, i.e. with any form of settlement.

Since the movement of large cash masses can cause crises in an unbalanced economy, the transfer of funds from non-cash to cash is rather tightly controlled by the state, and conditions for the preferential storage of cash in non-cash on accounts with credit institutions are artificially created and legislated. Non-cash funds are very mobile: to pay (transfer) money, it is enough to write off the amount of debt from the payer's account and credit it to the recipient's account in order to transfer the monetary equivalent of the cost of supplies, work, services.

The object of settlement legal relations is money payable for work performed, delivered products, rendered services. But, given that a characteristic feature of non-cash payments is the lack of transferring the payer's money directly to the recipient, questions arise such as "what should be understood by the term" non-cash money "?" And "are they an independent object of settlement legal relations?"

By itself, the method of non-cash payments does not seem to create new means of payment - "non-cash money", which should be included in the concept of an object of settlement legal relations. Their objects remain money in the form of banknotes, and not only in an ideal representation when they are used for settlements or as a measure of value, but also really, in the form of bank and treasury tickets, when in cases provided by law, the bank issues them to the account holder on the basis of checks .

The essence of money upon their transition to non-cash form is not violated. Moreover, all the functions of money formulated by modern economists are fully performed by non-cash money.

The development of technology has led to the emergence of new terms - "electronic money" and "electronic payments." The next evolutionary step in money circulation is connected with this, and the object of these similar calculations is still the same non-cash money. "Electronic money" is a subspecies of non-cash money and has all the characteristics inherent in non-cash money. Signs of value reflected on electronic information carriers are directly dependent not only on a special subject - a bank, but also on a whole system for ensuring their circulation, including technical means for receiving, processing and storing information (computers, databases, special payment support software operations, communication channels and such means of conducting payment and settlement operations as ATMs, payment terminals and plastic cards). The emergence of electronic carriers of value has created new legal problems, with the invariable economic nature of newly-found money. These problems lie in the area of \u200b\u200bmoney laundering in the shadow economy and human rights. There is a special intergovernmental commission on financial transactions (Financial Action Task Force, FATF) from representatives of 26 countries is exploring the possibility of using electronic money systems to launder illegal proceeds. She wants to make sure that the e-money systems being created will allow banks to identify and report suspicious transactions. A published report by the University of London Law Group on Information Technology contains a warning that the development of electronic money systems is fraught with dangerous consequences. In particular, this report states that methods of recording transactions in existing electronic money systems greatly facilitate money laundering and tax evasion. This report proposes to establish a system of agencies to monitor private telephone communications in order to identify electronic money transactions.

Even if such control were possible, the received data, including the telephone numbers of the sender and the recipient, would have to be forwarded to police computers. This affects the human rights to privacy and data protection, so these issues still need to be considered from a legal point of view.

Payment systems created by banks for settlement and credit operations are regulated by the Civil Code. It establishes the most general rules for credit and settlement obligations, which cannot be changed by other laws and other legal acts. It is important that the parties, when concluding agreements in the field of credit and settlement obligations, have the right to build their relations, based not only on the law and banking rules, but also taking into account the business customs used in banking practice.

Unlike banking rules that enshrine the peremptory nature of relations when making cashless payments, the Civil Code has expanded the ability of the parties to establish rights and obligations at their discretion.

The legislation does not establish specific rules for the creation, operation, management, determination of liability in payment systems. All relations in payment systems are contractual. Definitely that right-wing gap that has developed in this area will be resolved. And given the state’s interest in controlling payment systems, it can be assumed that further development of rulemaking in this area will go towards increasing control and responsibility.

1.3. Types of payment systems and their characteristics

These methods of conducting interbank payments are determined by the structure of the payment system, which is typical for all countries with a two-tier banking system. In fig. 2.1 shows the relationships and relationships between the main participants of the payment system. The main participants in the payment system include non-banking institutions, commercial banks and the central bank. Transferred funds include: liabilities of the central bank in the hands of the population and non-banking institutions (banknotes); deposits of commercial banks with the central bank (reserve balances of commercial banks); liabilities of banks in relation to the "non-banking public" (bank deposits); and banks' liabilities to other banks (deposits of correspondent banks).

Non-banking institution			Non-banking institution
availability bank. Deposits deposits with the Central Bank			availability bank. Deposits deposits with the Central Bank
Commercial Bank			Commercial Bank
availability deposits with the Central Bank deposits in KB kB requirements	Obligations: non-bank deposits cB deposits loans from the Central Bank		availability deposits with the Central Bank deposits in KB kB requirements	Obligations: non-bank deposits cB deposits loans from the Central Bank
central bank
bank requirements		Obligations: banknotes banks reserves

Fig. 2.1. Payment system participants, message flows and funds being transferred.

In the Russian Federation, settlements between enterprises are carried out by commercial banks and other credit institutions. Settlements between banks in Russia are carried out through cash settlement centers created by the Central Bank of Russia in the republics, territories, regions, cities, regions. In addition, settlement banking operations can also be carried out on correspondent accounts of banks opened by each other on the basis of interbank agreements.

Relations between the Bank of Russia, credit organizations and their customers are based on agreements. Relations between the RCC, as a structural unit of the Central Bank of the Russian Federation, with its customers, including with serviced credit organizations, are also built on a contractual basis.

We must pay tribute to the leadership of the Central Bank of the Russian Federation: it is now very seriously engaged in all aspects of its banking settlement system.

The architecture of the real-time settlement system will be two-tier: at the regional level, settlements will be closed to one, at most two Central Bank settlement centers (most likely, they will be created on the basis of the current GRCC), and at the interregional level, these centers will operate through the Federal Settlement Center (FRC )

The creation of a national payment system is necessary, but also do not forget about world experience in creating such systems. The national payment system, formed on modern banking technologies, is the basis for settlement transactions in the economy, but there should not be a monopoly of one payment system. World experience shows us that various systems created by credit and non-credit organizations may exist nearby. In modern payment systems abroad, central banks play a key role.

Secondly, they provide interbank settlement services to the systems of multilateral offsetting of mutual claims identified at the end of a certain settlement cycle.

Thirdly, the Central Bank perform the functions of control and supervision of payment systems.

Fourth, the Central Bank provides loans to complete settlements.

Payment systems created by commercial banks can be subdivided into large-scale money transfer systems, systems based on the use of plastic cards and completely new systems based on digital-cash money, which are paid via the Internet. The main models of payment systems abroad are presented in the appendix (table No. 2).

Chapter 2. Payment systems of commercial banks built using plastic cards.

Types of payment systems based on the use of plastic cards and stages of their development.

The evolution of payment systems built on plastic cards in this century can be traced by looking at the history and types of plastic cards. Edward Bellamy first came up with the idea of \u200b\u200ba credit card in his book, Looking Backwards: 2000-1887 (Looking Backwards: 2000-1887). Plastic cards, or rather their prototype, appeared in the USA, the traditional country of consumer credit. Back in 1914, large department stores began to issue credit cards to their customers. In 1928, the prototype of plastic cards was invented - a metal label on which the name and address of the client were extruded. In 1936, the first business association appeared that agreed to lend to common customers. Particularly successful was the Diners Club restaurant credit card (Lunch Club). Regular restaurant visitors who have a good reputation could get a “DC” card and present it in many New York restaurants instead of cash. Restaurants handed over copies of invoices to DC, which billed the customer a monthly bill each month. The client paid with “DC”, and the latter with restaurants. A number of large American banks, evaluating the success of the discoverers, issued their credit cards, which could be used not only in restaurants, but also in other places. So, payment systems began to form: the bank issued a card and opened an account for a client; a whole network of shops, bars, restaurants, hotels, etc. was created in the country and abroad, where cards issued by the issuing bank were accepted for payment, a center was set up that was engaged in the servicing (processing) of plastic cards. The pioneers in the development of the plastic money market were the Bank of America, now known all over the world; Master Card American Express Visa International.

The success of using non-paper means of payment is explained:

they are more protected from falsification, which allows them to be used in a wider sphere of settlements and with a large number of participants;
customers see in them a more convenient form of payment and allow the wide use of credit in everyday practice;
interest appears at retail outlets, which, with the consent to accept, as a means of payment, cards expand the circle of their customers;
from the position of the state, the use of payment systems reduces the cost of servicing the cash supply, accelerates the turnover of money supply.

The main feature of payment systems built on plastic cards is the maintenance of retail turnover in the economy. Features are expressed in the technical features of payments and are disclosed when considering the types of plastic cards, their evolution.

During the development of payment systems, various types of plastic cards arose, differing in purpose, functional and technical characteristics.

From the point of view of the calculation mechanism stand out bilateral and multilateral system. Bilateral cards arose on the basis of bilateral agreements between settlement participants, where cardholders can use them to buy goods in closed networks controlled by the card issuer (department stores, gas stations, etc.). In contrast, the multilateral systems that lead national bank card associations, as well as tourism and entertainment card companies (American Express), provide cardholders with the opportunity to purchase goods on credit from various merchants and service organizations that recognize these cards as means of payment. Cards of these systems also allow you to receive cash advances, use machines for withdrawing cash from a bank account, etc.

Another division of cards is determined by their functional characteristics. Here are different credit and debit cards. The first are associated with the opening of a credit line at the bank, which allows the owner to use a loan when purchasing goods or receiving cash loans. The second ones are intended for receiving cash in automated teller machines or for purchasing goods calculated through electronic terminals. In this case, money is debited from the cardholder’s account with the bank within the balance.

Sometimes they distinguish a special category - payment cards as a kind of credit card. The difference is that the total amount of debt when using the card must be fully repaid within a certain time after receiving an extract without the right to extend the loan.

There are differences in the use of cards in paper-based systems, or in electronic systems. In “paper” systems, the holder puts his signature on the trading account or other document prepared by the merchant, which is a confirmation of his permission to debit his account with the bank. Then, the trading account is sent to the card issuer as a basis for payment of the corresponding amount to the merchant (crediting his account) and debiting of the card holder’s account. In an electronic system, the card holder directly communicates with the issuer through the terminal. Instead of signing on the account, he enters a secret combination of numbers using the keyboard, which, if correctly typed, is a sanction to debit his bank account.

Consider briefly the main types of cards.

Bank credit cards are intended for the purchase of goods using a bank loan, as well as for receiving advances in monetary form. The main feature of this card is the opening of a credit line by the bank, which is used automatically every time a product is purchased or a loan in cash is taken. The Credit Line is used within the limit established by the bank. In some systems, a bank credit card can be used to preferentially pay for certain types of services, as well as to receive money from ATMs. Individual and corporate cards are distinguished.

Entertainment and leisure tourism cards (travel & entertaiment cards). These are “payment" cards, according to the above terminology. They are issued by companies specializing in servicing the specified field (American Express, Dinners Club). Cards are accepted by hundreds of thousands in trading and service enterprises all over the world to pay for goods or services, and also provide cardholders with various benefits when booking air tickets, hotel rooms, receiving discounts on product prices, life insurance, etc.

Cards for ATMs (ATM cards). This is a type of debit card that enables the holder of the bank account to receive cash within the balance of funds in the account through automatic devices installed in banks, trading floors, etc.

Card for purchase through terminals at points of sale (point-of-sale terminals - POS - cards). Cards of this type also belong to the category of debit. They are “tied” to the cardholder’s checking or savings account and do not automatically provide loans. The POS card acts as a bank check, however, its use is more reliable, as the identification of the owner is made at the time of the transaction and the money is transferred to the bank account of the merchant immediately.

Recently, debit cards of private networks (property debit cards) have become widespread. They are issued by banks that participate in regional systems of trading terminals, and not connected to national communications. Banks are attracted by the fact that in this case there is no need to pay a commission for the transmission of information on general communications.

Another classification of credit cards is related to their technological features. The most common cards of two types - with magnetic stripe and with integrated circuit (chip card — chip card, smart card — smart card, “smart card”) Magnetic stripe cards have a magnetic stripe on the back, which contains data necessary to identify the cardholder’s identity when using it in ATMs and electronic terminals of trading institutions. When the card is inserted into the appropriate reader, the owner’s individual data is transmitted via communication networks to obtain permission to conduct the transaction.

On the cards of major international card associations “Visa” and “Master Card”, the magnetic strip has several tracks for recording the necessary information in encoded form. On one of the tracks is recorded a personal identification number - PIN (Personal Identification Number), which is entered by the cardholder using a special keyboard when using ATMs and POS terminals. The dialed numbers are compared with the PIN code recorded on the strip. If they do not match, the owner is given the opportunity to make several more attempts to dial the PIN code. Then the card is seized or returned to the owner (Eurocard).

A card with a microchip (chip card, smart card) was invented in France in 1974 and gained wide distribution in this country and abroad. Integrated microcircuit (chip) in the card - is the custodian of information that is recorded in advance, and then can be updated at the time of the transaction. This extends the functionality of the card and increases its reliability.

Based on the information recorded in the chip, a card transaction can be carried out offline offline (off-line), i.e. without direct communication with the central processor of the banking computer system at the time of the transaction. Since the card itself stores in memory the amount of funds available in the bank account, authorization is not required here: if the limit is exceeded, the transaction will simply not take place. If the transaction amount is less than the limit amount, then at the time of its execution the amount of the free limit will be reduced and a new balance will be recorded, which can be used at the next purchase. When depositing money into the account, the limit is restored, about which a new entry is made in the chip.

The information capabilities of smart cards are much wider than that of cards with a magnetic strip (8 thousand bits compared to 1 thousand bits, with the possibility of further expansion by 24 times). In addition, its advantage is the ability to quickly update data in the microprocessor memory. Finally, an important advantage of the card is its higher reliability.

Smart cards have a relatively high cost (5-7 times higher compared to a magnetic card). In addition, their introduction into circulation in countries that have focused on magnetic cards since the creation of the card payment system has been difficult. Tens and hundreds of thousands of pieces of equipment are installed there that are not adapted to read information from a microcircuit, and replacing this equipment with devices that are compatible with smart cards would require large investments. Therefore, experts do not expect the rapid introduction of smart cards in countries such as the USA, Canada, Belgium, etc., although experiments to develop an international standard for these cards are carried out by the largest card associations in the world. A variety of card systems are displayed on fig 2.1 .

Currently, payment systems are undergoing modernization of payment technologies, which consists in switching from plastic cards on magnetic media to smart cards. The reason for modernization is the technological advantages of these cards, and the possibility of expanding the scope of use of payment systems.

Estimates of specialists in the field of payment systems regarding the transition to smart cards are not unambiguous, some indicate that the refusal from magnetic cards is not timely and expenses are unjustified when switching to smart cards, while others see them as a panacea for all ills. In one, their opinions coincide - this is in the prospects for their use. The questions arise, as a rule, from the series when the universal transition to smart technologies on a global scale begins, who will develop and unify standards for the use of smart cards?

VISA is one of the first global payment systems that drew attention to the prospects of smart technologies. Other global payment systems such as EuroPay, MasterCard also do not stand aside, actively working in search of forms of cooperation for creating projects on smart cards.

While maintaining certain technical standards, the integration of local payment systems is quite realistic, and it is likely that the formation of global payment systems will be based on existing local projects.

As it does not sound surprising, plastic money came to the Russian, or rather the Soviet market in the late 60s. The first plastic cards were Diners Club International. Representatives of this system signed an agency agreement with the State Property Committee in the person of VAO Intourist to service this payment system in the USSR.

In 1974, a similar agreement was signed with Visa International, in 1975 with Evrocard, Master Card, in 1986 with JBC International. Only foreigners served on plastic cards, the form of service was secretive and performed the service functions provided by Intourist to their customers.

The changes that began in our country in the mid-eighties and marked the beginning of the introduction of the banking system to Western standards, created the ground for the emergence of plastic cards.

In the early nineties, Russian commercial banks took up the development of the plastic card market. In September 1991, Kredobank, accepted as a member of Visa International, began issuing VISA cards in Russia. Then, the program for issuing VISA cards in Russia began to be implemented by Most-Bank, Inkombank and Mosbusinessbank. And the Intourcreditcard processing center (39% of the shares of which belonged to Kredobank) served payments. The data presented in table 2.1. vividly characterize VISA interest in the Russian market.

Number of issued cards (thousand)	Expenses of cardholders, thousand dollars	Number of transactions	Average Transaction Amount

After a while, “Kredobank”, “Most-bank” and “Dialog-bank” (the first three banks that became members of both Visa International and European International) established another processing center - “Card Center”. However, soon, “Kredobank” separated from the “Card Center” and established United Card Service JSC with the Russian version of the name “KOKK - United Credit Card Company”.

In April 1992, STB CARD JSC, founded by Stolichny Bank, appeared on the Russian market, which in January 1993 issued the first domestic plastic card STB CARD.

One of the commercial structures that are actively involved in the development of services related to the introduction of electronic payments is Bridge Bank. In June 1992, he issued the first Eurocard-Mastercard cards. In January 1993, a VISA card was issued. Then came the debit card of the Bridge itself. A little later, Most-Bank became a shareholder of KOKK (49% of the shares). And in February 1995, the Most group introduced the Multicard processing center, which is certified by two systems, Visa and Eurocard-Mastercard, at once, and is engaged in the issue of plastic cards and their servicing.

The third settlement center, mainly servicing American Express cards, was American Express (Russia) LTD.

Among Russian cards, it should be noted, first of all, Union Card (issuers Avtobank, Inkombank) and STB-card (Bank Stolichny).

The experience and strengths of magnetic magnetic card technology, successfully used by Western banks and companies, are actively used by Russian commercial banks to develop card business, the return on which will be fully available later.

Russia, which was isolated from world payment systems until the 90s, got a unique chance to bypass the technically not perfect version of organizing payment systems built on plastic cards that use a magnetic strip as the information carrier. And the desire of some Russian issuers to "jump" in an organized way through the stage of universal magnetization of cards in order to immediately develop the most promising technological schemes is understandable. We are talking about implementation projects on the Russian market of “SMART cards”. The first Russian publications on SMART cards as a means of payment began to appear in 1992.

Currently, a number of companies and banks in Russia are working to create a cashless payment system using plastic cards made using SMART technology. After a certain study of Russian and foreign card systems, the experience of their use and operating conditions in Russia, technical experts came to the need to build a combined (hybrid) type card system. Such a card carries a magnetic strip (like a regular magnetic card) and a microprocessor with memory (like a SMART card). Thus, while maintaining all the advantages of a SMART card, a qualitatively better protection against fraud is provided, because it becomes possible, if necessary, to authorize the card. What is important in modern Russian conditions.

At the same time, the task was also set to ensure compatibility of the developed system with one of the already existing most developed Russian systems (Union Card, STB Card, etc.).

Recently, more and more often in banking circles, the question arises of creating a national payment system built on smart cards. VISA is enviable in this matter. VISA in September 1996 announced the creation of a large-scale COPAC project in Russia to introduce a universal payment microprocessor-based VISA card, based on the U. E. P. S. system platform. Initially, VISA planned to create a pilot project based on Inkombank. But against this backdrop, VISA was in talks with Sberbank, which today already has a payment system, on the U. E. P. S. platform, regarding its certification. The desire of VISA to penetrate into this sector of the market speaks about its prospects. Evaluation of the VISA strategy is ambiguous: on the one hand, the creation of such a system, a leader in the card business, will ensure the compatibility of the national system with the international one; on the other hand, the question of the distribution of income, and the placement of insurance deposits, is acute.

Modern payment systems will allow the bank to significantly expand the scope of its services, covering more and more volumes of cashless transactions that are unprofitable for it, transferring them to non-cash - profitable ones.

From the very beginning, payment systems were aimed at developing new electronic products to replace the old, as a rule, much less effective ways of conducting financial transactions. So, credit cards have emerged as a more attractive alternative to small loans. Later, as a more convenient, safe and economical replacement for traditional paper checks and cash, access cards (debit cards) gained popularity. Today, smart cards covering the small transaction market (up to $ 10) are a promising payment product. On this path of improving means of payment, a modern bank sees its future in the use of payment systems. And Russian banks are no exception. The lack of a legacy of payment technologies gives us serious hope that, at least in the field of banking technologies, our country will enter the next century not far behind the leading world powers, but in the same ranks with them.

2.2. Criteria for choosing a payment system on plastic cards.

When creating a card system, the bank has to resolve many issues. The range of these issues extends from the choice of a technological platform to marketing research aimed at studying the market for this type of service.

Advances in technological progress over the past ten years have made it possible to use the latest technologies based on microprocessor cards in payment systems. This transition to new systems in Western countries is slowing down and postponed due to the huge investment that banks once made into the traditional magnetic card technology, the infrastructure of hundreds of thousands of ATMs, millions of retail terminals and specialized high-quality data networks. These systems are debugged, working, and the losses associated with fraud are statistically calculated and accounted for as unavoidable operating costs. The reason why Western banks are still actively working today on the use of smart cards in payment systems is, first of all, the standing task of reducing the cost of operating the system.

The situation on the Russian market is completely different. On the one hand, the very low creditworthiness of the mass client, the lack of high-quality branched and reliable means of communication (especially in the periphery) and the high level of criminality make it practically impossible to use standard Western systems on a national scale. On the other hand, at the initial stage of its development, Russian systems have a unique opportunity to use all the latest technological advances. That is why the number of payment system suppliers in the Russian market is so great. Many of these companies, realistically assessing the situation, offer only microprocessor cards as a basic element of systems.

Today, any bank around the world performs three main functions: collecting funds, moving them, and lending to them. Fundraising in itself costs a bank of money, you can already earn money on moving funds, but, nevertheless, the bank's main business is, of course, providing loans. Unfortunately, in Russia lending to both enterprises and the population is very unreliable in modern conditions, and so far it is not possible to focus on it as the main sphere of income generation by the bank. Using the organization of electronic settlement systems, it is quite possible to build banking products that, even in today's Russia, will make money by combining all three banking functions: collecting cheap resources from a large number of poor clients, controlling the movement of money through a bank account - customer - store - a bank account, and lending to businesses and trading entities associated with this clientele. This is one of the few real opportunities for banks to make money today.

Settlements using cash are extremely expensive for government and commercial financial institutions. The issuance of new banknotes, the exchange of old ones, the maintenance of large staff, the inconvenience and the great loss of time for ordinary customers - all this puts a heavy burden on the country's economy. In Russia, for example, about 20% of the value of each ruble is spent on maintaining its own circulation. One of the possible and most promising ways to solve the cash turnover problem is to create an effective automated system of cashless payments. According to expert estimates, such a system can provide a reduction in cash circulation by almost a third.

From the middle of the 20th century, automated payment systems using special bank cards began to appear.

Currently, this method of cashless payments has become so widespread that it is difficult to imagine the service sector in which they would not be used. Shops, ticket offices, hotels, all countries of the world are ready to serve you by accepting your plastic card as a means of payment.

Today, Russia already has experience issuing both foreign cards under the license of major financial associations, and its own ruble and foreign currency credit and debit cards.

Currently, plastic cards are a tool that is now modern, accessible for general use and recently more and more often competes with what we used to call money in cash and non-cash. They are the closest to cash, already well-established and familiar to users.

The functioning mechanism of the electronic settlement system is based on the use of plastic cards and includes operations carried out with the help of ATMs, electronic settlement systems of the population in trade organizations, and banking systems for servicing clients at home and at the workplace.

A plastic card is a generalizing term that summarizes all types of cards, various in purpose, in the set, the services provided with their help, and in their technical capabilities and the organizations that issue them.

In the process of forming an electronic cash settlement system in the West, an ISO organization (International Standarts Organization) was created, which developed certain standards for the appearance of plastic cards; the order of numbering (formation) of accounts; magnetic stripe format; format of the message sent to the cardholder about his operations. ISO members are such major card issuers as VISA, Master Card, American Express.

Currently, more than 200 countries of the world use plastic cards in payment transactions, which allows us to conclude that plastic cards are an essential element of the so-called "technological revolution" in banking. Plastic cards in some cases act as a key element of electronic banking and other systems. They came to the forefront in organizing the money circulation of the industrially developed countries of the West, gradually crowding out checks and checkbooks.

The bank is interested in working with cards based on the following considerations:

They allow you to increase the volume of attracted resources, first of all, the amounts that cardholders must put into their special bank accounts. Secondly, it can be insurance deposits, which banks (Russian) resort to to ensure greater reliability of "card" transactions.

For all operations with cards (purchase, cashing, converting), the bank, as a rule, charges a commission. In addition, the client pays to receive the card itself.

The bank’s competitive potential increases, taking into account the global trend of crowding out not only cash but also checks from the payment turnover, the bank’s credibility as a participant in innovation processes is growing.

As for the less pleasant side of the "card" business, for the bank it is associated with very high costs, especially at the beginning of working with cards (entering into an existing system or organizing your own processing center, costs of hardware and software, establishing contacts with shops, etc. etc. For example, the costs of the Capital Savings Bank - AGRO for the creation of its own STB-card system exceeded $ 12 million.

The high costs, as well as the poor development of modern communications, without which it is impossible to maintain cards, and some other circumstances make large investments in the card business in Russia very risky. /1/

From the perspective of the issuer - the bank issuing the cards in circulation, the most serious issue is the profitability of the services provided. So for most operations carried out with credit cards, it takes several years to become profitable. Despite the difficulties in determining the amount of income from the use of credit cards, since this area of \u200b\u200bthe bank’s activities is closely related to computer services, it was determined that the average profitability to the amount of invested capital was 29.9%.

In world banking practice, the use of plastic cards is an important source of profit. In the United States, according to some estimates, credit cards represent only 6% of loans issued by banks, but at the same time they provide 10% of all income received by these banks.

Russian banks, actively developing this area of \u200b\u200bactivity, often do not realize that we are talking about high-risk operations.

Considering the negative aspects of using cards, two problems attract attention: firstly, the volume of paperwork is not significantly reduced, and secondly, the level of unauthorized use of cards, fakes, and fraud is high.

The use of credit cards significantly affects the development of cashless cash flow, reduces distribution costs. There are some other advantages: growth in turnover and profits, increasing the competitiveness and prestige of banks, retailers, and other organizations that accept cards; availability of payment guarantee; employment growth, for example, in the field of foreign tourism, etc.

Credit card companies organize noisy advertising campaigns that highlight these benefits. Companies cover their costs with income from deferred payments of cardholders. It should be noted that both companies and banks, as well as their customers, are interested in developing this service sector, distributing cards.

Using the latest means of payment, in particular credit cards, allows banks to significantly reduce their costs for the manufacture, processing, accounting of paper money, other paper means of payment, and save time and labor costs. Huge work on the implementation of electronic settlements is carried out quickly, reliably, with minimal maintenance requirements. In addition, using a credit card fundamentally changes the psychology of the client, gradually instilling in him computer thinking, the ability to use equipment, and to calculate their own expenses for the future.

A payment system will be called a set of methods and entities that implement them, which provide, within the framework of the system, the conditions for using bank plastic cards of an agreed standard as a means of payment. One of the main tasks to be solved when creating

The payment system consists in the development and observance of the general rules for servicing the cards included in the system of issuers, making settlements and payments. These rules cover both the purely technical aspects of card transactions - data standards, authorization procedures, specifications for the equipment used, etc., as well as the financial aspects of card servicing - settlement procedures with trade and service enterprises that are part of the receiving network, rules for settlements between banks tariffs etc.

Thus, from an organizational point of view, the core of the Payment System is the association of banks based on contractual obligations. The payment system also includes trade and service enterprises forming a network of service points. For successful operation

The payment system also requires specialized non-financial organizations that provide technical support for servicing cards: processing and communication centers, technical service centers, etc.

The processing center - a specialized service organization - provides processing of authorization requests and / or transaction protocols received from acquirers (or directly from service points) - recorded data on payments made and cards issued through cards. For this, the center maintains a database, which, in particular, contains data on banks - members of the Payment System and cardholders. The Center stores information on the limits of cardholders and fulfills authorization requests in case the issuing bank does not maintain its own base (off-line bank). Otherwise (on-line bank), the processing center forwards the received request to the issuing bank of the authorized card.

Obviously, the center also provides forwarding the response to the acquiring bank. In addition, on the basis of transaction protocols accumulated during the day, the processing center prepares and sends out the final data for mutual settlements between the participating banks of the Payment System, and also generates and sends stop lists to the acquiring banks (and, possibly, directly to the service points). The processing center can also meet the needs of issuing banks for new cards, by ordering them at factories and subsequent personalization. It should be noted that an extensive Payment system may have several processing centers, which may be played at the regional level by acquiring banks.

Communication centers provide the subjects of the Payment system with access to data transmission networks. The use of special high-performance communication lines is due to the need to transfer large amounts of data between geographically distributed participants of the Payment system when authorizing cards in trading terminals, when servicing cards in ATMs, when making settlements between system participants and in other cases.

Each bank that decides to provide plastic card services to its customers can either create its own payment system or start cooperating with existing domestic or international payment systems.

Cooperation with international payment systems involves the membership or partnership of Russian banks with the relevant Payment systems. Within the VISA International association, cards are issued by 20 thousand banks of VISA members. These cards with the logo of issuers are accepted at 10 million sales and service points around the world. Europay International has 25 thousand banks and 12 million points, respectively.

In recent years, the conditions for receiving Russian cards by bank customers have become noticeably more liberal - under the influence of competition, tariffs have been reduced. However, their spread among issuing banks is quite high. As a rule, choosing a particular bank, the client receives an advantage in one tariff group, but overpays for other services.

International cards issued and served by Russian banks have a fairly pronounced Russian specificity. This is evidenced by the actual absence of credit cards, the practice of using insurance deposits, etc.

From the point of view of the problems of introducing plastic cards, we can say:

- the card business is currently quite well developed both around the world and in Russia;
- technologically, this type of business is very progressive, constantly evolving, and it uses the most advanced achievements of science and technology;
- for the implementation of banking products based on the use of bank cards, high costs are required, especially in the early stages;
- with a fairly strong unification of bank cards, equipment used in the card business, service rules, maintenance and compliance with technical standards, in the modern market of banking services there is a very wide variety of different bank cards, different both in terms of card execution technology and in the range of services, and the variety of Payment systems in which they participate;
- as a result of this diversity, many banks engaged in this business issue and serve many different cards, various payment systems, in order to offer the most comprehensive package of card services to their customers. You have to buy expensive equipment, which has a tendency, like all modern computer equipment, to become obsolete, in this regard, already a lot of such used equipment is offered for sale. Some types of cards, for example with a magnetic strip, gradually cease to be used, giving way to microprocessor cards;
- banks entering this business at a later time benefit slightly by the fact that at the same cost they purchase more advanced equipment for working with cards, take in service, more high-tech cards, the cost of which is getting lower every day. They enter into already proven and proven sustainable payment systems at various levels. Banks that have embarked on this path earlier, have more established themselves as high-tech banks, and managed to collect the most attractive clientele for their card business. Banks that do not use advanced technical solutions in the future run the risk of losing some of their customers altogether due to their inability to service them at the modern level of banking services development;
- plastic cards allow customers to use banking services mobile;
- the majority of customers, individuals, and modern banking card services in Russia have incomes above the average level, since the cost of servicing cards today remains quite high. The level of demand for card banking products greatly depends on the infrastructure of card services, on the willingness of trading organizations to accept them for payment. Only in large cities, in the card business, it is possible to massively attract a clientele with an average income level. In other cases, clients can be attracted on preferential terms, introducing large-scale projects, with the support of large corporate clients, organizing "salary" projects;
- the card business is high-risk, in most cases it has a long payback period.

From the point of view of electronic payment system technologies, it should be noted that:

- a bank card is not a substitute for cash, but is only one of the means used in the calculations;
- a plastic card confirms the right of its holder to receive goods and services, cash, make payments;
- plastic cards already have a fairly developed legal framework, both throughout the world and in Russia;
- from a legal point of view, a plastic card acts as a document confirming the owner’s right to payment, and using special devices, allows you to leave provable evidence that the payment was actually made;
- the security of settlements using plastic cards is based on the technical level of the card execution (they have many degrees of protection, especially microprocessor ones), on ensuring, in most cases, authorization of cards, verification of the identity of cardholders;
- Almost plastic cards can be used in any technology for electronic payments. They can be used as an additional element in remote banking customer service, when conducting money transfers, payments between banks and customers. Cards are actively used in electronic commerce, when paying for goods and services via the Internet, when creating urban (regional) systems of operational settlements between economic entities.
- the modern technical excellence of microprocessor cards, provides unlimited scope for the imagination of developers when creating fundamentally new banking products.

Based on the foregoing, we can conclude that a large number of electronic settlement systems, payment systems are based on the use of plastic cards. Electronic settlement systems in banks also include customer service in offices and at home using electronic equipment, various electronic communications systems, cash payments in electronic commerce systems, and interbank electronic transfers. Many of them may not use plastic cards as a necessary element.

The concept of "plastic cards" is very closely linked to the theme of this work, because is one of the important aspects of electronic Payment services provided by banks. On the other hand, the topic of "plastic cards" is more extensive. It includes not only the problems of electronic settlement (payment) systems, banking services to customers, but also a host of other, economic, technical, legal and other issues related to a purely “card business”. "Plastic cards" is a separate topic in the list of university theses, requires more detailed analysis and creates many other research subjects.

In more detail, the work will address issues of remote banking customer service, as this is the most classic form of retail electronic banking services. With remote customer service, plastic cards may not be used, since they are replaced by other technological tools. But for the highest quality customer service, it is simply necessary to integrate card services into remote banking services. A situation will be much more attractive for a client when, thanks to various systems such as “Client-Bank,” he will not only be able to quickly, without leaving his office, send a payment document to the bank, but the payee in another bank will receive money in the shortest possible time. Only by becoming a participant in modern electronic interbank electronic payments, the bank is able to provide an appropriate level of payment efficiency for its customers.

The improvement of the economic mechanism in the conditions of transition to the market places ever higher demands on the functioning of money circulation and the organization of settlement and cash services. The growth of the payment turnover and the resulting increase in distribution costs strongly dictate the need for the creation of fundamentally new mechanisms of money circulation that ensure fast-growing demand for payments and accelerate the turnover of funds while reducing the costs of money circulation and reduce labor costs.

This problem cannot be solved with the massive use of existing forms of money, because by their physical nature they have a mobility limit, cause high laboriousness of financial settlements, do not ensure the continuity of the settlement chain and make it difficult to control their movement. One of the ways to solve this problem is to use new technologies of scientific and technological progress in the application of cash substitutes and the creation of various electronic settlement systems, using the best practices of industrialized countries with market economies for this.

"Home banking" - banking customer service at home and at their workplace.

Along with the use of ATMs, electronic systems of payments and payments, conducting home banking ("home banking") is an independent form of banking services to the population based on the use of electronic equipment. / 2 /

Users of electronic banking services at home independently purchase the necessary equipment, and the bank advises customers on the equipment of home terminals and the acquisition of the necessary software. Such systems allow the client of the bank, using the screen of a monitor or television, a personal computer, to connect via telecommunication lines of communication (telephone or video) to the bank computer. In this case, banking operations can be carried out 7 days a week around the clock. Before the start of each operation, the account holder uses the "key" in the security code against unauthorized connection to the system. Using this system allows you to manage your current account, deposit, customer accounts with the budget, payment and savings accounts.

Among the operations performed by connecting a personal computer to a banking computer system, we highlight the following:

- receipt of account balance for the current day;
- familiarization with the details of instructions, rules, in accordance with which changes, corrections, etc .;
- the ability to order a checkbook and a report on the movement of funds in the account for a certain period of time; making transfers on customer accounts;
- payment for services of various companies (for example, issuing credit and other plastic cards, and using a computer at home, you can pay bills in advance);
- performance of operations with securities, etc. Cash desk customer service at home in some cases is not limited to their accounts in national currency. / 2 /

From the point of view of customer service - legal entities, banks try to adhere to the established rules for the introduction of cashless payments. The rules for settlement and cash servicing of clients, the rights and obligations of the parties stipulated in the bank account agreement, basically coincide with the norms and relations between the bank and the client when using systems such as "Client-Bank".

The "Client Bank" system allows (in the classic version):

- transfer payment orders to the bank;
- receive statements from customer accounts;
- receive electronic copies of payment documents for crediting funds to customer accounts;
- exchange electronic text messages with the bank;
- receive reference information (list of banking operations, exchange rates, etc.)
- carry out import (export) of information with the automation system of the client’s enterprise.

The "Client - Bank" system has a multi-level security system and ensures the reliability, security and confidentiality of the transmitted information.

Offering clients to use the services of the "Client - Bank" system, the bank advises clients on the acquisition of the necessary equipment. In addition, the bank guarantees technical support: during the installation of the system and initial training of personnel; software updates when new versions of the system; consultations and recommendations when using the system by telephone.

For a client of a bank, individual or legal entity, the most important limiting factor for joining the number of users of such systems is the payment for using the system’s services. From the perspective of a businessman, the most important advantage of this type of electronic banking service is the ability to receive any information at any time of the day along with using other opportunities. It is relatively difficult for banks to evaluate the effectiveness of these systems: firstly, from the point of view of reducing the cost of maintaining buildings, structures, employees, paperwork, etc .; secondly, because of possible losses as a result of the quick transfer by clients of their money from non-interest bearing accounts to profitable accounts. Serious analysis also requires competition from foreign banks and other financial and credit institutions that provide similar services for banking at home and in the office.

Customer service of the bank at home using the capabilities of the global computer network Internet has already received its well-known name "Internet banking."

The classic version of the Internet banking system includes a full range of banking services provided to customers - individuals at bank offices, of course, with the exception of cash transactions. As a rule, with the help of Internet banking systems, you can open and close deposits, buy and sell non-cash currency, pay utilities, pay for Internet access, pay the bills of mobile and paging operators, make intra- and interbank payments (within the country), transfer funds to your accounts, including card accounts, pay for purchases, study, bills of medical, insurance, law firms and any other accounts and, of course, track all banking operations on your accounts for any period of time.

Unlike the traditional one, the virtual Internet bank operates around the clock. 24 hours a day you can control your own accounts and, in accordance with the changed situation on financial markets, immediately respond to these changes (by closing deposits with the bank, buying or selling currency, etc.).

Remote customer service can also be done by using the phone and special programs with which the computer independently answers customer questions. This type of customer service is called telephone banking or briefly telebank.

Telebank provides an opportunity for a client to receive various reference information in voice and facsimile form, as well as to carry out active operations on their accounts.

Actions that a client can perform using a telebank:

- Get information on balances for any operational day in ruble and foreign currency accounts in speech form.
- Receive a facsimile copy of the statement of any account for any business day. Statements are generated dynamically based on client documents stored in the telebank databases. The client has the opportunity to receive statements for an arbitrary period, including for the entire service period at the bank.
- Get information on the amounts of receipts on customer accounts for any transaction day in speech form.
- Make movements on accounts (ruble and currency). A specific code is assigned to each payment that a client can make using the telebank, the telebank stores such payments in the form of “mock-ups” of payment orders with fixed details and empty fields to be filled in by the client. When making a payment, the telebank asks the customer for the payment code and offers to enter blank fields.
- Make a withdrawal of payments transferred to the bank before they are transferred to the Central Bank.

The Telebank system, at the request of the client, forms a document that cancels the previous payment.

- Make scheduled payments. For example, automatic transfer of funds in payment of transport tax, to a pension fund or compulsory medical insurance. If the customer’s account has a non-negative and non-zero balance, then the telebank at a specified time automatically generates a payment order and carries it out as before.
- Make a cash order in any currency at the cash desk and exchange office of the bank. In this case, the client fills out a telephone request for the purchase of currency in any POV. Telebank displays the primary document with its mark, which is sent with other payment documents.
- Submit an application for overdraft (technical overdraft) to the bank. If there is a shortage of funds in the client’s accounts for making a responsible payment, the client can apply for a overdraft for a certain amount and period with the help of a telebank. When accepting the agreement with the client, the predicted balance on the account specified in the overdraft application increases by the requested amount, as a result of which the client is able to make payments.
- Introduce an order to transmit a facsimile copy of a payment order transmitted through telebank or in a standard way to your correspondent. A document entered through a telebank is transmitted with a bank mark. When using this mode, the client has the opportunity to receive the goods (services) paid by him while in the office of the supplier !!!

Telebank can provide the client with the opportunity to use the convenient subsystems “Voice Mail” and “Facsimile Mail” to send or receive emergency messages, help information or documents not defined in the structure of the telebank (legal acts, accounting instructions, etc.).

A payment made through a telebank is processed automatically, and the administrator / transaction officer transfers information about the change in the account balance to the bank server. The bank operator serving the same client has the ability to determine the balance in the client’s account.

Customer account balances are calculated based on postings and can be received for any business days (closed and unclosed).

The statements (registers) of customer accounts are generated by the telebank dynamically at the request of the client. which eliminates the routine process of their preparation and storage.

The client has the opportunity to order an extract for any day (period), including for the entire period of his activity. In a standard way, the replication of databases of the trading day in a set period is performed. It is also possible that the television bank will make modifications to the databases of the operating day.

Many banks are spreading the use of telecommunications not only for processing operations with customer accounts, but also in other areas. Such as collateral, commercial and consumer loans and loans. Now it has become the norm when the data transfer system processes all banking operations. electronic interbank payment telecommunications

Instead of cash, checks and other payment documents, in many cases it is advisable to use electronic funds transfers (EFT - electronic funds transfer). For example, Ford pays the bills of suppliers and transfers wages to the accounts of its employees in this way.

However, the exchange of such important and confidential information as banking requires special means of protection against unauthorized access, erroneous transmission to the wrong address, and a guarantee of reliability.

The problems that arise here are solved using special methods of connection, data transfer and encryption, which are designed to eliminate undesirable consequences.

International cooperation, mobility of the population, support of the activities of international commercial organizations have brought to life the need for international transmission of commercial information. Differences in data transmission standards and accounting features adopted in different countries and various organizations require the development of special data transfer protocols and the creation of networks that serve these needs. The most famous and largest international network is the network of the organization SWIFT (the Society for Worldwide Interbank Financial Telecommunications), which is headquartered in Brussels. This organization was created when 240 large world banks began to cooperate in the development of standards for electronic transfer of funds between banks located in different countries. This company provides messaging services between members of the global banking community, which are used by more than 5300 financial institutions and branches around the globe, located in 130 countries. The SWIFT network today transmits 2.7 million messages daily and transfers about one and a half trillion dollars from one place to another.

Returning to banking and retail services at the end of this section, and summarizing all the above theoretical aspects of the use of electronic payment systems in banking, we tried to somehow determine the boundaries of the possible use of electronic payment systems in the framework of modern retail banking services and tried to present it is graphical. The result was a graphic drawing, presented in Appendix A of this work. This appendix shows that the vast majority of all retail banking operations are within the boundaries of the possible use of electronic settlement systems, with the exception of working in cash with the bank. All other operations related to retail services are physically reduced to entries in bank accounts and other “paper” work. The processing of large volumes of information, its storage and exchange is successfully handled by modern computer technology. Its potential capabilities today far exceed the volume of bank workflow. All that remains is its optimal use and the introduction of new technologies.

Thanks to the introduction of new “paperless” technologies, all operations are gradually being automated. Banks can only buy the appropriate technical equipment, software, rent modern communication channels, enter into existing payment systems, create the infrastructure of their own payment system, hire qualified personnel and then electronic payment systems would practically be implemented in the vast majority of retail banking services. The technologically diverse classes of banking products actually developed today that implement various aspects of electronic customer service have been shown using the table in Appendix B.

Using the table of differences, you can evaluate the advantages and disadvantages of each class of electronic settlement systems, evaluate the order of costs for implementation and maintenance and expected profitability.

Each bank can, in any order, introduce new payment technologies from any direction of the retail banking services market. Each new technological solution presents banks with certain new requirements for banking technology. Various technical, psychological, legal, financial problems arise, as well as security problems. In order to successfully solve them, it is necessary to analyze electronic banking systems not only from the theoretical, but also from the practical point of view, from the position of searching for possible solutions to emerging problems. The second section of this work is devoted to the analysis of the work of electronic settlement systems in banks.

Payment systems and the organization of settlements in a commercial bank: study guide Belousova Veronika Yurievna

1.1. Payment system: basic concepts and functions

Payment system(hereinafter - PS) as an element of the infrastructure of a market economy is a set of institutions, legal norms, procedures and technological tools used to transfer money, make settlements and settle debt obligations between participants in economic turnover.

The main functions of the PS are:

1) timely settlement of payment obligations between PS participants: thanks to the PS, payments between participants are timely and in full. This supports the reproduction process, both nationally and internationally;

2) ensuring the continuity of payments and the continuity of the state's cash flow: PS contributes to the timely fulfillment of obligations by participants in a payment relationship. The uncertainty of the payment may be due to how quickly the payer takes measures to transfer the payment; what means of payment he chooses to ensure the timeliness and effectiveness of its processing; how many intermediaries are involved in the payment transaction;

3) management and maintenance of liquidity of payment system participants: PS allows you to reduce, and sometimes eliminate the likelihood of a violation of the liquidity of banks during the day. PS provides a quick and final settlement on the value date, i.e. on the day of the actual delivery of the asset [Khomyakova, 2007, p. 33].

In modern economic literature, the concept national payment system(hereinafter - NPS), which includes all types of PS operating in the country, and is a complex and interconnected set of elements. According to the definition of the Committee on Payment and Settlement Systems of the Bank for International Settlements in Basel (hereinafter - the CPSU), the concept of NPS includes:

1) a set of payment instruments for initiating and transferring funds from payer accounts to recipient accounts - established forms of documents in paper or electronic form, through which funds are transferred;

2) a payment infrastructure for processing and transferring payment information from a payer to a payee;

3) financial institutions that maintain cash accounts and provide payment instruments and services, as well as other enterprises that are operators of various operating and clearing networks;

4) a system of market agreements, such as agreements, mandatory regulations and contracts for the creation of various payment instruments and services, the pricing of them, as well as their provision and purchase;

5) laws, standards, rules and various procedures established by legislative and regulatory bodies for the settlement mechanism.

Proper and coordinated work of all elements of the NPS ensures the rational organization of cash flows in the payment turnover and helps to reduce the risks of system failures in the operation of the substation.

Modern PS can be represented in the form of a pyramid [Payment system .., 1995, p. 43]. The basis of the pyramid is an array of payment transactions of business entities of the real sector of the economy - individuals, industrial enterprises, trade, services, etc. These operations cover a wide range of transactions, during which their participants assume monetary obligations and use the payment services of commercial banks to complete settlements. This is a sphere retail operations(retail payments), where mass payments for relatively small amounts prevail.

The next level of the pyramid is the operations of highly specialized intermediary firms (brokers, dealers) serving the money market, capital and currency markets. These financial intermediaries also use the payment infrastructure of commercial banks to settle their monetary obligations arising from the trading of financial instruments. The amounts that go into the bank accounts of these intermediaries are usually much larger than the operations of the retail sector. This reflects the specifics of the markets they serve.

The third “floor” of the payment pyramid is a system of interbank settlements, which arise both on the basis of the fulfillment by commercial banks of payment orders of participants in the real sector of the economy, and the obligations of the banks themselves to each other. In this payment sector, large cash flows are formed, the settlement of which is carried out through a system of correspondent relations through cashless transfers to Nostro and Loro accounts. This sector, as well as the sector of servicing financial and money markets (the second level of the pyramid), represents the sphere wholesale payments.

At the top of the pyramid is the central bank, which acts as the ultimate payment agent and the main coordinator of the entire settlement system. For the vast majority of commercial banks, the Central Bank maintains accounts on which the final results of interbank settlements are reflected. Money in bank accounts with the central bank, as well as banknotes issued by it (the so-called “central bank money”) are a particularly reliable means of payment, since the fulfillment of obligations thereunder is guaranteed by law. As for another means of non-cash payments - deposit money of commercial banks, their reliability depends on the financial condition and market status of a particular banking institution.

From the book Banking: Crib the author Shevchuk Denis Aleksandrovich

Topic 3. The credit system (CS), the main links, functions and stages of development in Russia The CS of Russia plays an exceptional role in the development of economic relations. Through the COP, the essence of the loan functions is realized with all its forms and methods of lending. KS is

From the book Marketing. Short course the author Popova Galina Valentinovna

Basic concepts Unconscious - 1. The totality of mental processes, acts and conditions caused by phenomena of reality, in the influence of which the subject is not aware. 2. The form of mental reflection, in which the image of reality and attitude towards it

From the book Economic Theory the author Vechkanova Galina Rostislavovna

Key Concepts Marketing management is the process of making managerial decisions in organizations in order to meet the needs of customers in the proposed product. Concept - 1. The general plan that defines the strategy for the implementation of reforms, projects,

From the book Secretarial Affairs the author Petrova Julia Alexandrovna

Basic concepts Marketing - 1. Analysis and forecasting of the market situation in order to orient production and ensure the best economic conditions for the sale of manufactured products. On the basis of M., entrepreneurs, firms and enterprises are developing

From the book Project Management from A to Z author Newton Richard

Basic concepts Research - 1. A type of systematic cognitive activity aimed at obtaining new knowledge, information, etc., at studying certain problems and interdependencies through the application of standardized methods (observation,

From the book Economics for the Curious the author Belyaev Mikhail Klimovich

Basic concepts. Product - 1. “A product of human or natural activity, as well as a service with useful properties and intended for sale”. 2. “Everything that can satisfy a need or need is offered to the market in order to attract attention,

From the book Payment Systems the author Team of Authors

Key concepts Demand is the quantity of a product or service that will be bought at a specific price for a certain period. An offer is the quantity of a product or service offer that manufacturers are willing to sell at a certain price for a certain period.

From the author’s book

The main concepts of Competition (from lat. Concurrentiel - to collide) - the rivalry between producers of goods and services for the market, the conquest of a certain segment of the market. Each firm uses its own strategy and tactics to achieve these goals. For market

From the author’s book

Basic concepts Price - the amount of money charged for a particular product. Pricing - the process of formation, pricing of goods and services, characterized primarily by methods, methods of setting prices in general, which apply to all goods. Distinguish two

From the author’s book

Key Concepts A matrix organization is an organization of a marketing service using both product managers and market managers. A geographic organization is the organization of a nationwide sales staff company based on services.

From the author’s book

Question 39 Price: concepts, functions

From the author’s book

7.3.1. Basic concepts Web browser - allows the user to read text files posted on the Internet, but what seems more important, provides access to graphical information (demonstration of a graphical Web site); Netscape - Web browser developed by

From the author’s book

Step 1: Basic Concepts Step 1.1. What is a project? In fact, the concept of “project” is very simple, although in academic studies it is sometimes devoted more than one page to its definition. In fact, a project is a task with a known result. For example, building a new home is

From the author’s book

Cashless payments and payment system Let’s digress a bit and answer the question of interest to everyone, how are cashless payments made. In fact, the circuit is not difficult to understand. You just need to know some details. To implement

From the author’s book

1.1. Payment system: essence, functions and role in the economy The development of the economic sphere of any country is impossible without an effective payment system with effective payment mechanisms. The payment system is the medium of money. Properly

From the author’s book

Chapter 4. The payment system of the Bank of Russia