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"PROSPECTS OF NON-CASH PAYMENTS OF THE MONETARY POLICY OF THE RUSSIAN FEDERATION"
Buryanov Natalya Vladimirovna, candidate of Economics , associate Professor Olifrienko Roman Ivanovich, master, Olifrenko Anna Sergeyevna, master,
Russia, the city of Rostov-on-don, Don State Technical University
ABSTRACT_
The article considers the basic problems of cash and non-cash advantages. The detailed analysis of the risks associated with cash. The analysis of the benefits of cashless payments. On the basis of the analysis and assessment of the current situation, identified problems, taking into account the dignity of non-cash assets and the shortcomings of traditional, it could be argued that the cash in the near future will lose its function as the universal means of payment and will be replaced by electronic money. The need for electronic money will increase every year.
monitoring, payment system, return, reform, corruption.
© 2016 The Authors.
ARTICLE INFO_
Received 1 December 2016 Accepted 11 December 2016 Published 30 December 2016
KEYWORDS
automated, clearing,
document management,
Cashless money turnover - a form of currency in which the storage and movement of funds takes place without the participation of cash by depositing money into a Bank account and transfer from the payer's to the payee's account. All cashless payments are made through banks, so the money in non-cash circulation is difficult to hide from scrutiny and taxation.
Non-cash payments, the conditions for their implementation and application procedure of settlement documents organize the state represented by the Central Bank. And since the whole system of cashless payments is an organization of non-cash money turnover, regulation of money turnover carried out through national laws and Bank regulations.
The relevance of the topic of this work is that currently Russia is at the stage of growth when fast and a global reform of the payment system coincided with a worldwide process of automation and computerization of all spheres of human activity. In the process of integration into the world economy, Russia has been using the banking technologies, which was created as a result of long evolutionary development of the world financial system that will significantly reduce the time of transition from "paper payments" and the staging schemes for automated processing of documents to the most progressive methods of electronic payments.
Non — cash settlements cash payments through the entries in the Bank accounts when the money is debited from the payer's account and credited to the recipient. Non-cash payments in the economy are organized on a particular system, which is understood as a set of principles of organization of non-cash payments, requirements to their organization, certain specific conditions, as well as forms and methods of calculations and associated documentation.
Monetary circulation is carried out in two forms - in the form of non-cash payments and in the form of a circulation of cash. The scope of application of cash operations and cashless payments are strictly delineated by legislation.
According to statistics of the Central Bank of the Russian Federation, in 2014 the share of cashless transactions accounted for more than 80% of cash withdrawals was 20 %. In other words, the share of transactions performed with cards, exceeded the share of cash withdrawals.
He mediates these spheres of economic relations, such as:
- sales of products, services, works;
- the distribution and redistribution of national income;
- obtaining and repayment of Bank loans;
- the payment and use of money incomes of the population.
Participants in these relations are associations, enterprises, organizations, cooperatives, banking and financial authorities, the population.
Payment of expenses of the population by means of transfer may also be carried out with Bank accounts. Substitution in these cases, currency non-cash transfers saves all money turnover as a whole because it reduces the amount of cash in circulation.
Non-cash payments reduce the need for cash turnover in the cash signs. Expenses in carrying out cashless payments are much less than costs associated with printing, storage, transportation, acceptance and counting of banknotes.
Non-cash payments, concentrating all the available cash in the Bank, creating the opportunity to use them as resources for short-term lending.
Payment of expenses of the population by means of transfer may also be carried out with Bank accounts. Substitution in these cases, currency non-cash transfers saves all money turnover as a whole because it reduces the amount of cash in circulation.
The Central Bank publishes mandatory for all banks and their customers regulations defining the rules of calculations. World experience in organization of cashless settlements indicates significant displacement of the payment of the cash turnover.
The development of scientific and technical progress, the desire to get closer to the world standards contributes to the State and the Central Bank take measures to introduce new, more advanced technologies in the organization and implementation of non-cash payments. In the General structure of payments has been positive changes. Reduced to a minimum the proportion of telegraphic and postal payments, 100% of the level reached, the share of electronic payments.
The main shortcomings hindering the implementation of non-cash payments are:
• the aggravation of the crisis phenomena in the economy;
• insolvency and bankruptcy of enterprises;
• the imperfection of software and technical support;
• not enough active updating of the legal norms in the field of cashless payments;
The result of this analysis the following measures are recommended to improve the implementation of the organization non-cash payments:
• accelerate the transition to software systems
• early automation system of cashless payments;
• extensive use of clearing;
• intensification of work with customers by developing and introducing a weighted procedure of charging interest on balances in settlement and current accounts (capitalization). You also need to offer customers a range of additional services connected, for example, using online payment, Agency services on the securities market, advice on legal and economic issues as well as financial analysis of the state of Affairs of the client;
• to improve the regulatory framework to simplify the process of making payments.
Monetary settlements using non-cash money is far preferable to payments in cash, because
then is significant savings in distribution costs. To preus
sing in business, executives and the Bank, and businesses should understand and take into account all the benefits and costs of introducing automated payment systems.
E-money has a number of advantages and disadvantages. Banks and other financial institutions are much cheaper and easier to operate electronic payments than with banknotes and loose change.
The development of e-Commerce further accelerating the process of abandonment of traditional money. Cards are cheap enough
A rough calculation for the cost of one plastic card
The usual card with the magnetic tape manufactured using an inexpensive inkjet printer will cost:
• based on the cost of a single sheet(5,15 RUB for 10 cards) on one card you will need plastic worth 52 kopecks;
• the cost of two sheets of laminate for both sides of the card will be 28 rubles (13 cards) and one card will go 2,15 RUB.;
• printer cartridges: black - 307,34 RUB, color - 770 RUB Total of RUB 1077,34 Given that resource one cartridge will last for 191 A4 page, and the number of cards on one page of the format -13 PCs total, expenses 43 kopecks. to print one plastic card;
• magnetic strip will need 10 cm, and based on the value of different types of tapes it will cost 28 kopecks. for tape type LoCo and 47 kopecks for tape of the type HiCo.
Thus, the manufacturing cost of one card will be 3,57 3,38 RUB or RUB the cost of the card will vary from the ordered number: 4.1 rubles. more than 50000 PCs. to 25 rubles volume of 50. the
Average arithmetic cost will be about 14,55 RUB, and the cost cards with magnetic tape depending on the type of 3.48 RUB will be Thus, the profitability of one card will be 11,08 RUB.
Information about the cost of coins and banknotes
The cost of manufacturing banknotes ranged from 60 cents to 1.5-2 rubles apiece. The coinage of the 1 penny was worth 4 and 6 pennies, 5 cents 7.2 a penny, 10 cents — 22.7 kopecks, 50 kopecks and 33.7 penny. The cost of Russian rubles is growing not only because of the increased cost of consumables, but also because of increasing requirements to the protection complex
Turnover of electronic money is easier to control than the turnover of cash. Each holder of a credit card can be sure that the financial side of his life is under close control by the authorities, as well as complete control of financial transactions, which excludes corruption, tax evasion, etc.
The benefits that we receive, using electronic money:
• Save time, effort and money. Payment by electronic money is very fast, almost in just a few seconds, and without the need to leave the house. In addition, the transfer of electronic money is much cheaper than regular Bank transfer.
• No limit in time and space: electronic payment systems operate around the clock, without days off and breaks. Payment services are always available, and all payment operations are made in automatic mode.
• Independent choice of payment system (or even one).
• Electronic money is easily converted from one currency to another using exchange points in the Internet.
• Properly using electronic payment systems, are excluded risks. Protecting them is that the money cannot be stolen or faked.
• Electronic money helps you control costs because all income and expenses are recorded on the services of payment systems.
There are a number of difficulties which are an obstacle in the development of cashless payments. First and foremost, it is the conservatism of the Russians, which is part of the mentality. The Russians are hard to move away from the traditional cash settlements to go to the next level of calculation. Another "antiretaliation" the development of cashless system is that the basic number of legal entities involved in the payment system, a cashless system does not seem attractive because of the mandatory Commission of the Bank, in the amount of 1.5 % of the purchase.
Measures to transition to cashless payments.
The Ministry of Finance of the Russian Federation has developed a number of measures aimed at limiting the volume of cash payments. In 2014, the ban was imposed to make payment in cash, the amount of which exceeds 600 thousand rubles. From 2015 it is planned to tighten rules and reduce size from 600 thousand to 300 thousand rubles.
In comparison with 2012 the structure of card payments of credit institutions and payments of their customers non-credit institutions (both physical and legal entities) has not changed significantly. A significant share in the total number and amount of payments (62,0 and 98.4%, respectively) were credit transfers.
In 2013, Russian banks continued the policy initiated by the expansion of the applications of remote banking services. Special attention was paid to the development of programs to encourage customers to use remote channels of access for transfers and payments.
The number of accounts with remote access, opened in the credit organisations to physical and legal persons which are not credit organisations increased in 2014 by more than a quarter and amounted to 99.9 million. Significantly (1.4-fold) increased the number of accounts with access via information and telecommunication network "Internet" and mobile phones.
Gradual development and modernization of banking practices and technologies in the Russian Federation, which can be attributed to the increase in Bank cards, should ultimately lead to a reduction of cash and to accelerate translation and increase the level of reliability of cashless payments.
For 2011-2013 the payment system of Russia is carried out 12171,6 million payments in total volume 1220855,9 billion. Thus, in comparison with 2012, in 2013 the number of payments increased by 343,6 million payment in monetary terms the increase was 35082 billion or of 8.78 %. Dynamics of the increase observed in 2014 compared to the same 2011, in quantifying the growth of operations amounted to 740,3 million of payments in monetary terms 92681,9 billion or 25,44 %.
From the above we can conclude that Russia in 2014 was one of the fastest growing markets of cashless payments in Russia
Full-scale development of systems and technology for electronic exchange of information, payments, and system of payments will allow the banking system to meet the information and progress to keep up with him. This factor will ensure a high percentage of the demand, to make banks more competitive and to keep high ratings in the market of banking services.
The increase in non-cash settlements in total contributes to the value of money in the national economy of Russia, as well as the gradual and consistent development of routes to market conditions, the increase of the interaction of aggregate supply to those or other goods, as well as the formation of effective demand.
Traditional money in the near future will lose its function as the universal means of payment and will be replaced by electronic money. The need for electronic money will increase every year. Every day the money supply will steadily increase, as computer technology will become more popular and widely available. As a result, traditional money will become less and less convenient for carrying out financial transactions.
This process will gain momentum in the coming decades and most likely will end with failure of mankind (the first stage - industrial countries) from the traditional money - paper and metal.
Human life is increasingly dependent on information technology. The disadvantages of the traditional coins and banknotes are well known: they are expensive to produce, even more expensive to protect against counterfeiting, high wear process.
Despite the use of resistant materials, used for printing money banknote $1 lives no more than 22 months. Still have not invented a method for safe disposal of the money. The coins issued after the unification of Germany had to fill up the broken shaft. Paper money dangerous burn is detrimental to the atmosphere. They are also undesirable to bury in the ground because they are made of especially durable grades of paper, and the environment will not be able to absorb for several decades. Banknotes are constantly passing from hand to hand, become carriers of various microorganisms, including those causing severe disease.
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