BANK PAYMENT CARDS MARKET AS A WAY OF RETAIL PAYMENTS DEVELOPMENT

Анотація

<p>The article considers the substance of the bank payment cards market, its properties and the role and place of this market in socio-economic state development.<br />The measures taken by regulators around the world to stimulate the development of the bank payment cards market as well as the increasing of cashless payments are analyzed. Among such activities are setting limits for cash settlements, reducing the cost of POS-terminals for merchants, interchange regulation, tax rebates for merchants and vendors.<br />According to statistical data of top-10 counties that have the highest level of cashless payments, the highest percentage of cashless payments volume in consumer payments in the world is up to 91%. As for Ukraine, according to the «Сomplex program of financial sector development in Ukraine by 2020», the level of cashless payments in the local payment system is expected to be at least 30% by 2020. The National Bank of Ukraine and the Ministry of Finance of Ukraine use such instruments as setting limits for cash payments and the development of a special complex program to increase the level of POS-terminals applying in Ukraine. In terms of international experience tax regulation measures would probably give effect to this.</p>

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