E3S Web Conf.
Volume 217, 2020International Scientific and Practical Conference “Environmental Risks and Safety in Mechanical Engineering” (ERSME-2020)
|Number of page(s)||9|
|Section||Digital Technologies for Sustainability|
|Published online||14 December 2020|
The state of the Russian payment market: digitalization and the impact of COVID-19
1 Volgograd State Technical University, 400005, Lenina Avenue, 28, Volgograd, Russia
2 V.I. Vernadsky Crimean Federal University, 295007, Vernadskogo Avenue, 4, Simferopol, Republic of Crimea, Russia
3 Volgograd State Agrarian University, 400002, University Avenue, 26, Volgograd, Russia
* Corresponding author: email@example.com
The purpose of the article is to assess the state of the Russian payment market and the impact on it of two main factors - the COVID-19 pandemic and the development of the digital economy. Objectives of the article: 1) highlight the stages of development of the modern payment market in Russia; 2) identify the dynamics of the payment market of the Russian Federation (infrastructure for the provision of payment and other financial services, the number of non-cash payments, the use of cash); 3) to establish the impact of the COVID-19 pandemic and the development of the digital economy on the state of the Russian payment market. As a result of solving the tasks, the following was established. There are three stages to assess the Russian payment market. Analysis of data on the infrastructure for the provision of payment and other financial services showed that since 2010 there has been an annual decrease in the number of banks. The structure of non-cash payments is changing: the number and amount of transactions using payment cards are growing, the number and volume of money transfers are decreasing, and cash is being phased out. The impact of the COVID-19 pandemic and digitalization on the state of the Russian payment market reflects trends that are being strengthened by the pandemic and are shaping a sustainable trend.
© The Authors, published by EDP Sciences, 2020
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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