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Banks as Subjects of the National Payment System: Contemporary Issues

Author

Listed:
  • Svetlana V. Krivoruchko

    (Institute of Financial and Economic Research, Financial University under the Government of the Russian Federation)

  • Valery A. Lopatin

    (Institute of Financial and Economic Research, Financial University under the Government of the Russian Federation)

Abstract

The article considers the issues of smooth rendering of payment services and rapid growth of operational risks and money laundering and terrorism financing risks resulting from wide utilization of electronic means of payment as well as the problem of reducing the bank and non-bank credit institutions share market resulting from expansion of the alternative payment service systems using “money substitutes”. The ways to solve problems are proposed by the authors as well.

Suggested Citation

  • Svetlana V. Krivoruchko & Valery A. Lopatin, 2016. "Banks as Subjects of the National Payment System: Contemporary Issues," Finansovyj žhurnal — Financial Journal, Financial Research Institute, Moscow 125375, Russia, issue 2, pages 111-117, April.
    • Handle: RePEc:fru:finjrn:160210:p:111-117
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    More about this item

    Keywords

    smooth rendering of payment services; operational risk; money laundering and terrorism financing risk; electronic means of payment; bank and non-bank credit institutions; money substitutes;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation

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