ANALYZING THE STAGES OF DEVELOPMENT OF THE RUSSIAN LEGISLATION ON PAYMENT AGENTS’ AND BANK PAYMENT AGENTS’ ACTIVITIES
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Author(s): | Brit N. N., |
| Number of journal: | 4(69) | Date: | November 2024 |
| Annotation: | The article provides a review of the development of Russian legislation regarding payment agents and bank payment agents. Based on the analysis of regulatory legal acts and the study of scientific papers and publications, the author proposes considering the process of development of the legal regulation of payment agents’ and bank payment agent’s activities in the context of three stages. The first stage (from the early 2000s to 2009) was characterized by the absence of specific regulation for payment agents. During this period, cash transfers were carried out through informal intermediaries. At the second stage (2009—2019), two federal laws were enacted to regulate the activities of payment agents and bank payment agents. Subsequently, changes were made to legislation aimed at improving the legal framework for the operations of these entities, and judicial and administrative practice was actively developed. The third phase (since 2019 to the present) has seen the enactment of a law introducing self-regulation for the activities of payment agent organizations — payment acceptance operators, as well as ongoing efforts by the legislator to establish the institute of non-bank payment service providers. The author concludes the article by noting the trend towards a gradual replacement of payment agents and bank payment agents as participants in the domestic payment system with a more efficient legal model for payment intermediation. | ||
| Keywords: | payment agents, bank payment agents, payment intermediaries, legislation on payment system, national payment system, history of legal regulation, history of Russian legislation, payment aggregators, nonbank payment service providers, self-regulation in the financial market |
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| For citation: | Brit N. N. Analyzing the stages of development of the russian legislation on payment agents’ and bank payment agents’ activities. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;4(69):215—220. DOI: 10.25683/VOLBI.2024.69.1172. |
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