In today's world there are many payments for services and goods. Let's talk about this and see what settlement systems exist.
Let's define the terminology
So what is a payment system? This is a set of organizational actions, forms, procedures that improve the system of monetary circulation. In fact, this is a huge number of contractual relationships, rules, and procedures that enable absolutely all participants to carry out financial transactions and settle accounts with each other.
What are the challenges facing payment systems?
Payment systems perform a number of tasks:
- Safety and efficient operation.
- Reliability, which guarantees the absence of any disruptions in the operation of payment systems.
- Fast and economical workflow processing.
- An honest approach that meets all the necessary criteria.
In general, for any such system, the main function is to ensure a dynamic economic turnover.
Separate elements of payment systems are very closely interconnected. Their interconnection is carried out in accordance with certain rules, which are listed in the regulatory acts of the state. The work of the Russian payment system is based on legal documents, thanks to which it functions. They regulate the totality of procedures that are necessary for the operation of this structure and for the transfer of funds from one counterparty to another.
Payment system procedures include non-cash payment forms, norms of payment documents and all means used for communication (software, Internet, telephone lines, technical support).
Elements of payment systems
Payment systems consist of the following elements:
- Organizations carrying out money transfers, repayment of financial obligations.
- Money tools and systems that provide the transfer of funds between counterparties.
- Contractual relations governing the correct and clear procedure for cashless payments.
All elements of the settlement system are very closely interconnected, their interaction takes place according to certain rules fixed by regulatory documents. Their observance is absolutely necessary for all participants.
Types of payments
According to article 140 of the Civil Code of Russia, payments in the country are made both in cash and by bank transfer. We can say that they are all divided into two types. Let's talk about them in more detail.
The cash settlement system involves the payment of goods and services by transferring funds from hand to hand. In everyday life, each of us faces this.
Payment by bank transfer occurs without the presence of cash, instead, the funds are deposited into a bank account or electronic wallet.
What are the cash settlement methods?
So, there are several ways to pay with cash. Let's list them:
- "In cash" at the box office, through couriers or by transferring funds from the customer to the contractor.
- With the help of self-service terminals Qiwi, Cyberplat, Eleksnet and many others. A person selects the service that he needs on the screen and deposits banknotes into the bill acceptor. Almost all services and even loans are paid in such terminals.
- At ATMs with a cash-in function. Again, the desired operation is selected, the purpose of the payment is indicated, bills are made.
- Payment at banks or by post. Most people of retirement age prefer to pay utility bills there. To do this, you only need to provide a payment order or simply provide the details of the recipient, as well as give money to the cashier.
- Another popular payment method in the country is transfers (for example, using the companies “Zolotaya Korona”, “Leader”). For their registration, you just need to come to the selected department, provide the recipient's data and deposit money.
Bank transfer payment
Cashless payments can be contact and non-contact. Let us dwell on their features in more detail.
1. Settlements using bank cards with a magnetic strip is the most popular option at present. However, such payment methods began to gradually replace more secure cards with a chip. To make a purchase, just insert it into the terminal or pass it through the reader. Then a person needs to enter his PIN code, and the money will leave his account. That's all, the goods are paid.
2. Payment using plastic "MasterCard" or Visa. This is a very common form of contactless payment for purchases. To pay, just bring the card to the terminal, and the goods will be automatically paid without specifying a PIN code. Of course, this type of calculation is very convenient. The only drawback is that the amount of payment for one purchase cannot be more than a thousand rubles. It turns out that if you want to purchase goods worth, for example, two thousand, then paying in a contactless manner will not work. The card will have to be inserted into the terminal and still enter the pin code. By the way, we note that not all stores have corresponding devices.
3. There is still the opportunity to pay with the details of the card. This is also a non-contact method. Most often they use it to pay for online purchases. How is the transaction carried out? It is necessary to enter the necessary map data in the fields. It can be, for example, a surname, a security code. After filling in the details, you still need to confirm the operation itself. After that, the funds will be debited from your account.
4. Payments by electronic money using the Internet-wallets Yandex.Money, Kiwi, Webmoney. To pay for purchases and services, you need to open a personal wallet of any payment systems and make a calculation or transfer funds, having the details of the company.
5. Payment via mobile phones with NFS technology. Honestly, this non-contact method is not yet very popular in Russia. The technology allows you to pay by presenting the mobile to a special reader. To be able to use this service, you need to buy a SIM card that supports NFS-technology, as well as put another antenna on the phone. After that, the calculations can be done with one touch by attaching the mobile to the terminal. Funds will be debited from the smartphone account. And although in the Russian Federation, as already mentioned, the use of such technology is not very widespread, at the moment this method can still be used in the Moscow metro.
6. Bank transfers using online banking. This is also a way of cashless payment for services and acquisitions. To use it, you need to go to the Internet bank, find the right category, enter the details and select an account for withdrawing funds. The operation is confirmed by entering the code.
All over the world, the most popular settlement systems are non-cash transactions. Not only the convenience and speed of their implementation, but also complete safety at relatively low cost, speaks in their favor.
Which type of calculation is more profitable?
Of course, the electronic payment system is the most profitable and convenient, no matter which way you look. It makes it possible to make purchases very quickly, simplifies the entire payment process. Moreover, costs are reduced. We give a simple example when buyers and sellers are in different regions. There is no way to do without the use of cashless payments. However, with all the visible benefits, it can be implemented only with a certain level of technology, culture, and education. Historically, cash was the first to appear. There were no cashless payments before, and it couldn’t be. The level of development of society and technology simply did not allow this.
Today, calculations with real money are characteristic only for more backward countries. Research experts say that in the future, cashless payment systems will replace cash payments.
What is a settlement system for?
The need to pay by bank transfer at one time led to the emergence of a system of bank settlements with each other, since payers and recipients were served by different financial organizations. In Russia, a payment system of the Russian Federation was developed for transfers between banks. Each country organizes its own structures that ensure a safe and quick circulation of funds on the territory of the state. Together, they form an international settlement system. Thanks to this, trade relations between different countries, sometimes located on different continents, are possible.
Instead of an afterword
Currently, the economy of any country is a huge ramified network of relations of a large number of constituent entities. Strange as it may seem, the basis of all interconnections is various settlements and payments that would not have been possible without a clear organization of the settlement system.