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DIRECTION IN DEVELOPMENT OF THE PAYMENT SYSTEM MIR
T.V. Levchenko, student Supervisor: E.I. Bych, senior lecturer
Financial university under the Government of the Russian Federation (Russia, Moscow)
DOI: 10.24411/2411-0450-2019-10540
Abstract. This article is devoted to the problem of development in the national system of payment cards, that is related to the need to protect the market of banking services in the Russian Federation. The analysis of the project connected with the introduction of cards Mir is given. The dynamics of the company's revenue based on the calculations of the growth rate indicator for the period from 2016 to 2017 was analyzed. As a result of the analysis carried out by the author, a positive direction of the introduction of Mir cards was established.
Keywords: national payment card system, NSPK, the Mir Payment system, payment cards, card issuance.
The relevance of the following research is stipulated by the fact that despite a wide selection of payment systems, the Russian Federation needs its own protection of the banking market from various external factors. The presence of an alternative payment system is a protective mechanism of the Russian banking market, which serves as a guarantee of the financial system security. Thus, in the context of the current development of the national financial system, special attention is paid to the emergence and development of the Mir Payment system.
The purpose of this research is to study the prospects of development of the Mir Payment system by analyzing the dynamics of the issue of cards of the payment system, as well as revenue analysis of National Payment Card System Joint Stock Company (NSPK JSC).
Due to the difficult economic situation, Russia has experienced serious changes that have affected its economy. To further prevent the dependence of the financial sector on external factors, a bill on the development of the National payment system has been introduced. In 2015, the Mir national payment system was launched on the territory of the Russian Federation. The Mir system is a unique national payment system created as an alternative to international systems - Visa and MasterCard. The uniqueness of this system is its independence from external political and economic factors.[6] A prerequisite for the
creation of this payment system was the refusal of Western payment systems to cooperate with several Russian banks on which sanctions were imposed. On 23 July 2014, National Payment Card System Joint Stock Company (NSPK JSC) wholly owned by the Central Bank of the Russian Federation (100% of shares) was established. One of the main tasks of the NSPK was the issue of Mir payment cards [5]. In 2016, 30 million units were planned to be issued. The launch of the national payment instrument began with the advent of the Mir payment system, which was used in test mode by seven banks in December 2015.
Now the Mir card offers both basic financial functions and non-financial services. The Mir payment system includes but is not limited to a number of features: it is used as a transport card, a student card, a corporate and social security card. The popularity of Mir cards is stipulated by new technological capabilities. Many universities in Russia implement campus projects, which involve the ability to use a card to enter a university and to manage scholarships.
The strategy for the development of the National payment card system is carried out by NSPK in cooperation with the Bank of Russia. Every year the number of issued cards increases significantly, which is shown on graph 1.
0
2016 2017 2018
■ the number of issued cards of the MIR (in millions) Graph: Number of issued Mir cards for 2016-2018 [1, 2].
The plan for the volume of Mir plastic cards issuance was exceeded in 2017. It had been planned to issue 24 million cards by the end of 2017, but at the beginning of 2018 their volume was more than 30 million cards. In 2017, 154 banks were engaged in the issuance of cards, with the majority issued by Sberbank. This trend continued in 2018. 374 banks used this payment system in 2018.
According to graph 1, in 2018 compared to 2017, the number of issued cards increased by 19 units. The sharp increase in the volume of cards could be explained by the adoption of a law mandating new customers of the public sector to be provided with Mir cards starting from 1 July 2017, and all state employees, except pensioners, - starting from 1 July 2018 [4].
On 1 July, 2018, the stage of transferring employees and students of budgetary institutions to Mir cards was completed. As a result, all payments from the budget are transferred to the cards of the national payment system. The last stage of the introduction of the payment system will be the transfer of pensioners to this system by 1 July 2020 [4]. By 2020, the existing cards will have expired and pensioners applying for a new card will be provided with a Mir card. Thus, by 2020, the issuance of cards will continue to grow steadily through the implementation of the planned transition.
NSPK in cooperation with the Bank of Russia is implementing a strategy for the development of the national payment card sys-
tem. In order to determine further ways of development of this system it is necessary to consider the balance sheet of NSPK JSC (Report on financial results, form №2) [2].
For each business entity, one of the main tasks is to maintain the volume of revenue, which is considered to be an indicator of the efficiency of the company, at a proper level. The comparison between the volume of revenue of NSPK JSC for 2017 and 2016 helps to determine the effectiveness of this system and the ways of its further development.
Using the calculation of the growth rate, we will determine the indicator which will allow us to see by what percentage the company's revenue changed during a certain period using the formula (1):
Rgrow = x 100% (1)
Where R grow - revenue growth rate; R1 — revenue in the reporting period; R0 — revenue in the base period;
_ ,7 914 627-6 210 369. „ /o\
Rgrow = (-) x 100% (2)
u v 6 210 369 J v '
Revenue for 2017 and 2016 was used in these calculations (formula 2).
Consequently, the growth rate was 27.442%, which means that the revenue of NSPK JSC in 2017 compared to 2016 increased by 27.4%. The increase in the growth rate has had a considerable impact on the investment climate of the company. Thus, the dynamics of the development of this system is
positive and within a few years we will be the Mir system are planned. According to the observing the company's growth and intro- Head of the NSPK Vladimir Komlev, several duction of the new programs. large banks are testing the Mir Pay system
The main objective of this system is to be- now, and in 2019 it will be available to all come part of a daily life of Russian citizens, users [3]. A possible collaboration with which is actively supported by the Russian Google Pay is also reported. However, the government. However, the payment system issue of the impossibility to use Mir cards will become popular only when its users are outside the Russian Federation still remains able to easily use it anywhere in the world. To unresolved. But the Mir system is actively achieve this, Mir cards still require further conquering the market and will soon control a improvements. significant share of the financial market in
There will be a positive trend in the devel- Russia as long as all planned innovations are opment of the Mir payment system. Current- introduced. ly, several projects aimed at modernization of
References
1. Annual report of the joint-stock company National payment card system for 2016 [Electronic resource]. - Available at:https://www.nspk.ru/upload/iblock/53f/%D0%93%D0%BE%D0%B4%D0%BE%D0%B2%D 0%BE%D0%B9%20%D0%BE%D1%82%D 1 %87%D0%B5%D 1%82%20%D0%B7%D0%B0 %202016_%D0%9E%D0%9A%D0%9E%D0%9D%D0%A7%D0%90%D0%A2%20%20%D0 %9D%D0%90%20%D0%A1%D0%90%D0%99%D0%A2.PDF (accessed: 12.03.19)
2. Annual report of the joint-stock company National payment card system for 2017 [Electronic resource]. - Available at:https://www.nspk.ru/upload/iblock/32b/%D0%93%D0%BE%D0%B4%D0%BE%D0%B2%D 0%BE%D0%B9%20%D0%BE%D1%82%D 1 %87%D0%B5%D 1%82%20%D0%B7%D0%B0 %202017_%20%D0%9D%D0%90%20%D0%A1%D0%90%D0%99%D0%A2.PDF (accessed: 11.03.19)
3. Economic information Agency PRIME. An Interview with Vladimir Komlev NSPK [Electronic resource]. - Available at: https://1prime.ru/Interview/20171228/828306430.html (accessed: 15.03.19)
4. Federal Act of 01.05.2017 № 88-03 on amendments to article 16-1 of the Russian Federation Act "On protection of consumer rights" and the other "On national payment system" [Electronic resource]. - Available at: http://publication.pravo.gov.ru/Document/View/0001201705010004?index=5&rangeSize=1_ (accessed: 29.03.19)
5. NSPK - National system of payment cards [Electronic resource]. - Available at: https://www.nspk.ru/about/ (accessed: 12.03.19)
6. Official website of the national payment system Mir [Electronic resource]. - Available at: https://mironline.ru/advantage/ (accessed: 11.03.19)
НАПРАВЛЕНИЕ РАЗВИТИЯ ПЛАТЕЖНОЙ СИСТЕМЫ МИР Т.В. Левченко, студент
Научный руководитель: Е.И. Быч, старший преподаватель Финансовый университет при Правительстве Российской Федерации (Россия, г. Москва)
Аннотация. Данная статья посвящена проблеме развития национальной системы платежных карт, связанная с необходимостью собственной защиты рынка банковских услуг в Российской Федерации. Проведен анализ реализации проекта по внедрению карт Мир. На основе расчетов показателя темпа прироста проанализирована динамика выручки компании за период с 2016 по 2017 год. В результате проведенного автором анализа установлено положительное направление внедрения карт Мир.
Ключевые слова: национальная система платежных карт, НСПК, платежная система Мир, платежные карты, объем эмиссии карт.
