A law on the national payment system was passed on June 27, 2011. The law has established restrictions on the activities of payment systems, cashless payments, and the use of electronic cash. The Central Bank of Russia has been officially charged to supervise the payment systems from July 1, 2012, and thus began their registration, said the First Deputy Chairman of Bank of Russia Vladislav Kontorovich. According to his preliminary estimates about 50-70 payment systems can be detected in Russia by the end of 2012 under the new rules.
But, in spite of the rapid growth of domestic market of electronic payments and the law about national payment systems, there is a number of pressing issues today: Internet fraud, the issue of tariff rates, the problem of e-money cash, and the legislation gaps.
The share of credit cards payments is 32% of the total online payments. The volume of payments by bank cards on the Internet grows annually by an average of 20-25%. They have become so popular that last year it allowed the Russian fishers to get about $55M some people think. This situation causes market participants to implement and continuously upgrade the security for their customers. - Ilya Sachkov, the CEO of Group-IB says.
These and other aspects will be discussed by the market leaders, representatives of banks, payment systems, their consultants and providers of technical solutions, as well as by expert practitioners in e-commerce; the speech of a representative of the Central Bank is also expected at the first business conference Electronic Payment Systems in Russia. Modern Tools for Business Development, which will take place on August, 30 in Moscow center Digital October.