PROSPECTS FOR THE DEVELOPMENT OF THE LEGAL MECHANISM FOR THE FUNCTIONING OF PAYMENT SYSTEMS

2020 ◽  
Vol 13 (3) ◽  
pp. 079-084
Author(s):  
ELIZAVETA SALINA ◽  
Keyword(s):  
Legal Framework ◽  
Legal Regulation ◽  
Payment System ◽  
State University ◽  
Payment Systems ◽  
Proper Functioning ◽  
Money Transfer ◽  
Level Of Significance ◽  
Transfer Services ◽  
Legal Mechanism

1 Lomonosov Moscow State University, Moscow, Russia The presented research reveals an approach to the construction of a legal mechanism for the functioning of payment systems. The proposed approach is based on the application of the principles of legal regulation. The purpose of a work is to determine the existing legal mechanism for the functioning of payment systems, identify its drawbacks and propose a new approach to legal regulation to ensure the proper functioning of payment systems. The proposed approach to legal regulation takes into account the specifics of the functioning of payment systems, which consists in the presence of three elements in its activities: institutional, procedural and organizational. These elements reflect the subject structure of the payment system, the process of providing money transfer services by them, and the ways in which payment system entities interact during providing payment services. Each of the elements must be defined within the legal framework of the payment system to ensure its proper functioning. The proposed principles of legal regulation take into account the features of these elements, in particular, the principles are classified into three groups, depending on the element they affect. The paper describes ways to implement the principles in the legal mechanism: the possibility of their direct application, depending on the type of significance of the payment system, is analyzed. It is also concluded that the implementation of the principles in the legal mechanism will reduce the regulatory burden on payment systems by using an approach depending on the level of significance of the payment system. The paper defines the role of the principles, which is that the principles allow to eliminate the legal gaps in the legislation on the national payment system, and prevent the emergence of new gaps.

scholarly journals ON VIRTUALIZATION OF PAYMENT SERVICES IN THE RUSSIAN NATIONAL PAYMENT SYSTEM

Banking law ◽  
2020 ◽  
Vol 6 ◽  
pp. 37-43
Author(s):  
Elena G. Khomenko ◽  
Keyword(s):  
New Technologies ◽  
Legal Regulation ◽  
Payment System ◽  
Payment Systems ◽  
Payment Mechanism ◽  
Money Transfer ◽  
Payment Services ◽  
Transfer Services ◽  
The Cost

Currently, there is a development of e-Commerce, the possibility of reducing the cost of transfer services, the ability to make payments anonymously, as well as the elimination of gaps in legislation regarding the legal regulation of new technologies used for several years — payment applications, payment services, etc. The author of the article describes how the “virtualization” of the national payment system affects all types of payment services and how it manifests itself in relation to the payment acceptance service, postal transfer service and money transfer service. Special attention is paid to the activities of payment systems and the organization of the remote payment mechanism.

scholarly journals Electronic payment systems in Russia and in foreign countries

2019 ◽  
pp. 159-164
Author(s):  
E. G. Khomenko
Keyword(s):  
Comparative Analysis ◽  
Information Exchange ◽  
Electronic Payment ◽  
Payment Systems ◽  
Foreign Countries ◽  
Money Transfer ◽  
The Russian Federation ◽  
The Uk ◽  
Transfer Services ◽  
Electronic Technologies

The paper is devoted to a comparative analysis of payment systems using electronic technologies in the implementation of money transfer services in Russia and abroad. A comparative analysis of payment systems in the UK, USA, France, Switzerland with Russian payment systems is carried out, electronic information exchange systems used in national payment systems of states are considered. The importance of the mentioned system for wholesale payment systems in any country of the world is noted. The author makes conclusions on progressive electronic payment management systems in the Russian Federation.

scholarly journals Online Shopping in Kathmandu Valley: Users’ Knowledge, Challenges and Way Forward

2021 ◽  
pp. 135-144
Author(s):  
Dipendra Karki ◽  
Sashi Rana Magar ◽  
Niranjan Devkota ◽  
Seeprata Parajuli ◽  
Udaya Raj Paudel
Keyword(s):  
Digital Literacy ◽  
Legal Framework ◽  
Payment System ◽  
Government Policies ◽  
Survey Method ◽  
Kathmandu Valley ◽  
Payment Systems ◽  
Low Literacy ◽  
Literacy Rate ◽  
Internet Penetration

E-payment users are expanding all over the world as a result of globalization and improved ICT facilities. Nepal has a 63 percent internet penetration rate, with 3, 59, 12,019 people using mobile services. In order to identify issues and managerial solutions of online purchasing in the Kathmandu valley, for the study, a sample of 295 e-payment users was chosen. A descriptive data analysis was carried out using the survey method. The result revealed that 95 percent of users were aware of the use of an e-payment system in Kathmandu valley. 40.13 percent of users agreed that they faced challenges while using the e-payment system. Some of the major challenges are slow internet penetration, an ineffective legal framework, a low literacy rate, and traditional payment methods. Similarly, improving security, reinforcing government policies, providing adequate internet access, and promoting digital literacy can be used to address issues with the e-payment system. The findings revealed that while 95% of e-payment users are aware of online payment systems, there is still room for improvement for the remaining 5%.

scholarly journals The improvement of statutory and legal regulation of payment system of the Republic of Kazakhstan

2021 ◽  
pp. 97-103
Author(s):  
B. B. Amangozhayeva ◽  
S. S. Abdíldín ◽  
Sh. D. Kydyrbaeva
Keyword(s):  
Information Transfer ◽  
Shadow Economy ◽  
Legal Regulation ◽  
Payment System ◽  
Payment Systems ◽  
Regulatory Documents ◽  
National Bank ◽  
The Republic ◽  
Financial Transactions ◽  
Modern Technologies

The development of payment systems implies continuous improvement, updating and updating for all their components. This article discusses the issues of functioning, regulatory regulation and further transformation of the payment systems of the Republic of Kazakhstan, taking into account modern realities. The main legislative acts, regulatory documents and requirements regulating the activity of the payment market are considered. The national payment system of the Republic of Kazakhstan, which is in contact with all aspects of the economic activity of the state, is today a strategically important channel that makes it possible to conduct clear and high-quality financial transactions. Currently, the National Bank of the Republic of Kazakhstan and the Agency for Regulation and Development of the Financial Market are taking measures to implement the program for the development of the national payment system until 2025. The program is implemented to address the issues of combating the shadow economy and increasing the share of non-cash payments. The lag in the development and improvement of payment systems leads to the destabilization of the financial sector and reduces the competitiveness of the national economy. This determines the demand for quicker payment processing, expansion of non-cash payments, the introduction of modern technologies and methods of information transfer, increase the security of information systems, to ensure effective and reliable service to all participants. At the same time, the main stages and key tasks of the implementation of the program for the development of the national payment system of the Republic of Kazakhstan are analyzed.

scholarly journals Operators of foreign payment systems and foreign providers of payment services as subjects of national payment system

2020 ◽  
pp. 14-24
Author(s):  
Aleksandr Aleksandrovich Sitnik
Keyword(s):  
Public Relations ◽  
Russian Federation ◽  
Financial Services ◽  
Legal Regulation ◽  
Payment System ◽  
Electronic Payment ◽  
Payment Systems ◽  
Financial Transfers ◽  
The Russian Federation ◽  
Payment Services

This article is dedicated to study of peculiarities of legal regulation of the work of operators of foreign payment systems and foreign providers of payment services within the framework of national payment system of the Russian Federation. The object of this research is the public relations that emerge in the process of rendering payment services by foreign providers, their provision of electronic payment means for financial transfers on the territory of the Russian Federation, functionality of the operators of foreign payment systems, and supervision by the Bank of Russia. The subject of this research is the legislative norms on national payment system. The scientific novelty consists in the fact that based on the positions of the legislation on national payment system conclusions are made on peculiarities of carrying out supervision over the operators of foreign payment systems and foreign providers of payment services. This supervision is also indirectly carried out through Russian operators of financial transfers. In a case of failure by a foreign organization to meet the requirements established by the legislation on national payment system, the operators of financial transfers loses its right to take part in international payment systems and render financial services associated with transfer of funds using electronic payment methods rendered by foreign providers. The corresponding rules were set to ensure stability of national payment system, increase the quality of payment services, protect the rights and lawful interests of payment service consumers, and finally, ensure financial security of the Russian Federation.

scholarly journals Russian legislation on public control

2021 ◽  
Vol 7 (1) ◽  
pp. 374-382
Author(s):  
Vitaly Viktorovich Goncharov ◽  
Tatiana N. Mikhaleva ◽  
Grigory A. Vasilevich ◽  
Evgeny Sergeevich Streltsov ◽  
Aleksandra Alekseevna Milkova ◽  
...  
Keyword(s):  
Civil Society ◽  
International Law ◽  
Russian Federation ◽  
Legal System ◽  
Legal Framework ◽  
Legal Regulation ◽  
Legal Analysis ◽  
Public Control ◽  
The Russian Federation ◽  
Legal Mechanism

This article is devoted to constitutional legal analysis of international legal bases of the legislation of the Russian Federation on public control. The work substantiates the position that to understand the constitutional legal mechanism of public control in Russia it is necessary to study the international legal framework of control of civil society over public authority in connection with the implementation of generally recognized principles and norms of international law in the legal system of the Russian Federation as a priority the rules of the legal regulation under Part 4 of Article 15 of the Constitution.

scholarly journals On the legal problems of operation of highly automated vehicles in road traffic

2021 ◽  
pp. 59-73
Author(s):  
Aleksei Viktorovich Amelichkin
Keyword(s):  
Social Relations ◽  
Road Safety ◽  
Road Traffic ◽  
Legal Framework ◽  
Legal Regulation ◽  
Educational Process ◽  
Automated Vehicles ◽  
The Road ◽  
Safety Improvement ◽  
Legal Mechanism

The subject of this research is the system of legal relations in area of ensuring road safety in terms of operation of highly automated vehicles on public roads. The object of this research is social relations arising in the context of operation of highly automated vehicles traffic on public roads. The goal of this article consists in examination of the normative legal framework that regulates the peculiarities of operation of highly automated vehicles, as well as in development of recommendations for improving the normative legal framework. The author explores the issues of normative legal regulation of operation of highly automated vehicles on public roads. Special attention is given to the current issues of legal nature. The novelty is defined by the need to improve legal mechanism for the operation of highly automated vehicles on public roads. The author identifies the problems and offers solution on enhancing road safety in terms of operation of highly automated vehicles on public roads for protecting the road users. The conclusion is made on the need to revise the normative legal acts in the area of ensuring road safety for the purpose of achieving a positive result from implementation of highly automated vehicles into road traffic. The acquired results can be used in the legislative activity of government authorities, law enforcement practice, educational process of the educational institutions, scientific research of the experts on ensuring road safety, improvement of the branches of the Russian legal system.

On some theoretical issues of classification of payment systems

2021 ◽  
Author(s):  
Anastasia Kovalchuk
Keyword(s):  
Scientific Research ◽  
Legal Regulation ◽  
Payment System ◽  
Main Body ◽  
The European Union ◽  
Payment Systems ◽  
Association Agreement ◽  
State Legitimacy ◽  
Energy Community

Problem setting. The author’s vision of ways to solve the problem of classification of payment systems in the new political and socio-economic conditions is presented in the article. The need to rethink the concept of “payment system” in connection with changes in current legislation of Ukraine, which in this context makes the category of “payment transactions” instead of “transfer of funds”, as before. It is emphasized that such an innovation expands the concept of “payment system” in a broader sense, which requires additional scientific research. Analysis of recent researches and publications. The question of the classification of payment systems has been repeatedly addressed by both domestic and foreign scientists and practical workers. For domestic science and practice, there is a need for critical understanding of existing views on the classification of payment systems, which is caused by the processes of adaptation of national legislation to the EU acquis in accordance with the provisions of the Association Agreement between Ukraine, on the one hand, and the European Union, the European Atomic Energy Community and their member states, on the other hand [9], in particular, in connection with the adoption of the Law of Ukraine “On Payment Services” dated June 30, 2021 № 1591-IX [10]. Such changes in the current legislation of Ukraine have not yet been properly reflected in publications on financial and legal topics and lead to further scientific searches in this area. Target of research is to update existing approaches to the classification of payment systems to improve the legal regulation of financial relations in new economic and socio-political conditions. Article’s main body. The understanding of the term “classification” is clarified, because in the practice of research in general theory of law and branch of legal sciences, it is often used without indicating its clear meaningful understanding or such a view may have significant differences. It is noted that although for legal science classification is a traditional and widely used method of scientific research, at the same time, there is a need for a clearer idea of such a means of scientific knowledge and overcoming terminological inconsistencies. Attention is drawn to the need to compare the concept of “classification” with such related categories as typology, systematization, modeling, clustering, cataloging, periodization, etc. Conclusions and prospects for the development. The view is maintained that to classify means to divide objects, phenomena or concepts into classes, groups, etc. according to common features, properties, criteria. It is emphasized that most of the criteria for the classification of payment systems are conditionally legal and reflect their respective organizational, functional or technical and technological features. In this context, the opinion is expressed that the legal criteria for classification should be considered only those that directly have the appropriate legal significance, determine the content in the areas of legal regulation of the organization and functioning of payment systems. It is proposed to distinguish between regulated and unregulated payment systems on such a legal basis as state legitimacy.

scholarly journals Usage of special software for mobile devices for improving efficiency of road traffic safety

2020 ◽  
pp. 1-10
Author(s):  
Aleksei Viktorovich Amelichkin ◽  
Maksim Mikhailovich Isaev
Keyword(s):  
Mobile Devices ◽  
Social Relations ◽  
Traffic Safety ◽  
Road Traffic ◽  
Legal Framework ◽  
Legal Regulation ◽  
Road Traffic Safety ◽  
Special Software ◽  
Legitimate Interests ◽  
Legal Mechanism

The subject of this research is the system of legal relations in the area of ensuring road traffic safety. The object of this research is the social relations emerging in the process of recording administrative legal relations via special software for mobile devices for improving efficiency of road traffic safety. The goal of this article consists in examination of the normative legal framework that regulates the usage of special software for mobile devices in law enforcement. The authors examine the issues of normative legal regulation of the process of recording administrative offences with regards to road traffic safety using special software for mobile devices. Special attention is given to the usage of special software for mobile devices when determining the elements of an administrative offence. The novelty this research is defined by the need to improve legal mechanism for recording administrative offences in the area of road traffic safety using special software for mobile devices, prevention of infringement of rights and legitimate interests of road users in the area of ensuring road traffic safety. The authors describe the problems and propose solutions aimed at improvement of legal mechanism for recording administrative offences in the area of road traffic safety via special software for mobile devices. The main conclusion consists in the need for revising normative legal acts in the area of ensuring road traffic safety for the purpose of improvement of the effectiveness of special software.

scholarly journals CONSTITUTIONALLY LEGAL MECHANISM FOR ENSURING RIGHTS AND FREEDOMS OF A PERSON AND A CITIZEN: CONCEPTS AND DIRECTIONS TO ACT

2021 ◽  
pp. 6-12
Author(s):  
Yuriy Bysaga
Keyword(s):  
Human Rights ◽  
Legal Framework ◽  
Legal Regulation ◽  
Fundamental Rights ◽  
Protection Mechanism ◽  
Human Rights Protection ◽  
Rights Protection ◽  
Definition Of ◽  
Fundamental Rights And Freedoms ◽  
Legal Mechanism

One of the indicators of the fulfillment of international obligations by the state in the field of human rights is the perfect definition of the mechanism for ensuring the rights and freedoms of a person and a citizen. The purpose of this article is to clarify the concepts and directions of the constitutional and legal mechanism for ensuring the rights and freedoms of a person and a citizen. The methodological basis of the conducted research is the general methods of scientific cognitivism as well as concerning those used in legal science: methods of analysis and synthesis, formal logic, comparative law etc. The rights and freedoms of a person are complex. Structural elements of the human rights protection mechanism are the mechanism of legal influence in the field of human rights, the mechanism of legal regulation in the field of human rights, the legal framework of human rights, the system of human rights guarantees, and the system of human rights protection. Such legal phenomena as the mechanism of guaranteeing the fundamental rights and freedoms of citizens and the constitutional and legal mechanism of ensuring the fundamental rights and freedoms of citizens are not identical. Only the mechanism of guaranteeing the fundamental rights and freedoms of citizens contains both social and legal conditions and means that ensure the realization, protection and security of citizens' rights and freedoms. The definition of the concept of constitutional and legal mechanism for ensuring the rights and freedoms of a person and a citizen has been clarified: this is the system of organizational and legal and legal means of influence, through which opportunities for the implementation of rights and freedoms of a person and a citizen are created, and in case of violation or threat of violation, their protection is exercised by the bodies which are not vested with jurisdiction and the protection of bodies vested with jurisdiction. The main activities of this mechanism are embodied into the forms of ensuring the constitutional rights and freedoms of a person and a citizen: ensuring the implementation, protection and security of these rights and freedoms

Sign in / Sign up

Export Citation Format

Share Document