Cashless Payment in Emerging Markets: The Case of Russia

Victor Gorshkov
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引用次数: 5

Abstract

Cashless payment has rapidly developed in emerging markets following the digitization of finance. In this paper, by calculating the ratio of cashless payment in Russia, we find that it takes the shape of J-curve exponential growth, unlike in other developed and emerging economies. Although debit cards significantly dominate other types of cashless payment, the development of e-money is also significant. Internal and external factors both account for the J-curve exponential growth in cashless payment, and the external factors have a larger impact. We distinguish the peculiar features in the promotion of cashless payment that are peculiar to Russia and highlight the fact that Russia's national payment system was formed to address rising national security and geopolitical risks. Cashless payment is centralized and administered by the Bank of Russia, in order to digitize the financial sector and the government, with the goal of driving the digital economy.

新兴市场的无现金支付:以俄罗斯为例
随着金融的数字化,无现金支付在新兴市场迅速发展。本文通过对俄罗斯无现金支付比例的计算,发现与其他发达国家和新兴经济体不同,俄罗斯无现金支付比例呈j曲线指数增长。尽管借记卡在其他类型的无现金支付中占主导地位,但电子货币的发展也很重要。无现金支付的j曲线指数增长均受内部和外部因素的影响,外部因素的影响更大。我们区分了俄罗斯在推进无现金支付方面所特有的特点,并强调俄罗斯国家支付体系的形成是为了应对日益上升的国家安全和地缘政治风险。无现金支付由俄罗斯银行集中管理,以实现金融部门和政府的数字化,目标是推动数字经济。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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