Formation of a Competitive Environment in the Market of Electronic Payment Systems

The relevance of the study of the formation of a competitive environment in the payment systems market is due to the current oligopoly of foreign payment systems. The everyday economic life of society is directly relate to the use of money and is determine by the need to consider the issues of using payment systems on the territory of the Russian Federation as a whole and assess the level and problems of their development during the period of digital transformation. The purpose of the study is to explore the Russian market of payment systems that can compete with foreign counterparts. The main task is to study the payment systems used in the Russian market and develop recommendations for promoting the national payment system MIR, as an alternative payment system Visa and Masterсard. In the course of the study, general scientific methods (analysis and synthesis, comparison) and special methods (statistical and economic analysis) were used. The article analyzed business models of electronic payment systems and the structure of cash flows for cashless payments. Three options for the implementation of transactions are considered: with foreign Visa and Masterсard, the Russian MIR card and using the Fast payment system (FPS). The advantages and disadvantages of the MIR payment card in comparison with Visa and Masterсard were analyzed. The significance of national digital currencies and their relationship with payment systems were investigated. As the results of the study, methods of struggle of domestic marketplaces with the oligopoly of foreign payment systems were identified. Based on the conducted competitive analysis of the Russian MIR card, measures were proposed to improve the development of Russian payment systems as a whole in order to popularize them among economic agents of the Russian Federation.