Opportunities and prospects of the development of real-time gross settlement (rgts) system in Russia

Author(s):  N.I. Bykanova, candidate of Sciences, associate Professor, Belgorod National Research University, Belgorod, Russia, bykanova@bsu.edu.ru

Gordya D.V., Belgorod National Research University, Belgorod, Russia

Al-Saadi Mohanad Rahem, no, no, Belgorod National Research University, Belgorod, Russia

Issue:  Volume 46, № 2

Rubric:  Public and business finance

Annotation:  Currently, the domestic payment market is reorienting towards digitalization and the transition from cash to non-cash transactions, which is dictated by the General trends of globalization and the elimination of the boundaries of international payment transactions. The article investigates modern payment instruments and mechanisms in the market of non-cash retail payments, identifies the main advantages of the system of fast payments as one of the promising areas of development of the national payment system. In addition, the authors pay special attention to the definition of the possibility of using the system of fast payments for the participants of the domestic financial market. In the conclusion to article, conclusions were drawn that the developed principles and mechanisms of realization of instant translations will be able to satisfy the current and perspective needs of national economy and society for payment services.

Keywords:  digital technologies, fast payment system, payment system, cashless payment.

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