Problems of the Non-Cash Payments Development in the Russian Federation on the Example of the North Caucasus

¹ Ural State University of Economics, 620144 Ekaterinburg, Russia
² Dagestan State University of National Economy, 637008 Russia

Abstract

Currently, the use of cash payments in the economy is an undesirable element since it is the basis for the shadow economy development. The willingness of the Russian Federation Government to switch to non-cash payments has reason. The implementation of many state programs depends on the non-cash payments development, especially in developing regions. Non-cash payments allow to take control of the movement of funds, as well as assess its origin. Moreover, they contribute to the growth of tax revenues to the budget. The purpose of the article is to analyze the payment system development of the Russian Federation, the development level of non-cash payments in the territory of the Russian Federation in the context of the regions, to identify the main reasons that impede the payment infrastructure development. Much attention is paid to the regions, since it is here that the entering of banking services leaves much to be desired. The goals set by the authors - to carry out a comparative analysis, horizontal and vertical analysis, to identify the main indicators of the level of «non-cash» settlements. Accordingly, build hypotheses and draw conclusions and recommendations. It is necessary to transfer as many transactions as possible to non-cash payments, and this depends on the interest of consumers in settlements with bank cards and other non-cash instruments.