Электронные деньги и платежные ссистемы

5. Conclusion

Development of Internet technologies and electronic commerce (the interactive order of goods and its payment on the Internet) have important impact on process of automation of non-cash forms of calculations. Modern information technologies with use of electronic devices and communications are a basis for implementation of remote bank operations at which visit by the client of bank office isn't required.
In all sectors of economy there is an active process of replacement of cash and monetary payments with non-cash forms of calculations among which recently steam is gained by card schemes of payment and electronic clearing through the automated clearing houses. In turn, appeal of calculations with use of cards it is caused by a wide network of ATMs and settlement terminals. Am ...

Contents

1. Introduction 3
2. Essence of electronic money and direction of their use 4
3. World practice of regulation of use of electronic money 6
4. International payment systems: history, tendencies of development, prospect 12
5. Conclusion 16
6. References 18

1. Introduction

For the last decades, nothing developed so promptly, as computer technologies and electronic communications. Now information technologies and first of all the Internet are widely applied in the economic relations. Progress in information technologies made possible emergence of the modern payment systems using the last achievements in this area and allowing making bank payments without leaving the house, to pay off in shop with a plastic card and to acquire goods on the Internet. Emergence of so-called electronic money, electronic cash, and digital cash is connected with development of modern payment systems.
Feature of the payment systems using electronic money is that the equivalent of monetary cost which is in advance paid to their issuer is stored in a digital form on t he card microprocessor, on the hard drive of the computer or other device of which their owner disposes, and can be used as an instrument of payment without direct participation at transaction of bank. It is their main difference from the payment systems using cards with a magnetic strip where communication with bank in on-line mode is necessary for carrying out transactions of the account, and also from various systems of remote access.
Many economists draw analogies between electronic and cash and is suggested about gradual replacement of cash of the emitted central banks by private electronic money in the near future. The number of questions answers on which else should be found is connected with distribution of electronic money. Among them influence of issue of electronic money on the volume of money supply, ability of the central banks to carry out a credit policy by former methods, a role of a banking system in new economy, etc. In recent years these questions were actively discussed in scientific community in the West.
The purpose of the real research is studying of essence of electronic money, features of their functioning, the direction of impact of electronic money on a financial system and the analysis of practice of use of electronic payment systems worldwide.

At a stage of formation there was a disorder development of several competing systems advanced by groups of the banks uniting usually round the leader on the basis of his settlement opportunities.Development of the consumer credit in the sixties stimulated release of credit cards which started being issued actively both banks, and trade organizations in the USA. The banks, consortia of banks which are issuing loans to clients and not issuing loans started offering not only the most known types of credit cards (BankAmericard and Master Charge), but also Everything Cards which left so far a turn, for example, Town & Country Cards, Midwest Bank Cards, Interbank Cards. The world system conducting now - Visa – then evolved from key bank - Bank of America which licensed participation of other banks on the basis of the settlement opportunities, - to association. Still it was at that time supposed that the main thing in cash cards is not so much the credit, how many opportunity to create world system of clearing settlements.Thus, by 70th years there was a modern system of the international and national non-cash rationing systems presented by the main world payment systems. So far Visa is association more than 21 thousand banks from 190 countries. These banks are co-owners of Visa and define rules of activity of Association.Regarding the existing federal legislation the Rules "About an Electronic Funds Transfer" work. They are applied to financial institutions which the banks and non-bank institutions providing electronic payment services treat.The companies, which are carrying out money transmitters, have to obtain the license of regulator (departments of bank activity or other financial regulators of separate states of the USA).Provisions of the Rules "About an Electronic Funds Transfer" protect interests of users, and also define basic rights and duties of users and financial institutions at commission of electronic transactions on the accounts of users.Financial institutions have to develop rules of internal control for counteraction of legalization (washing) of income gained in the criminal way, and to financing of terrorism to carry out identification of clients and if necessary to check the data received from clients, and also to send to authorized body information on operations over 10 thousand US dollars and about suspicious operations.Non-cash payment tools in the USA in 2014 have the following structure (fig. 2)Fig. 2. Non-cash payment tools in the USA in 2014In Singapore within counteraction of legalization (washing) of income gained in the criminal way and to financing of terrorism the following rules are ordered to holders of electronic money: not to place money on the device over 1 thousand dollars;to limit single wholesale purchase of devices with the sum up to 20 thousand dollars stored by cost; not to make a transfer of the stored cost on the unregistered devices; to carry out internal audit inspections; to establish procedure of monitoring of use of devices, to reveal suspicious operations and to send messages on them to authorized body.Non-cash payment tools in the Singapore in 2014 have the following structure (fig. 3)Fig. 3. Non-cash payment tools in the Singapore in 2014According to the Chinese legislation, the foreign companies can't independently emit plastic cards and create payment systems: they have the right to enter the People's Republic of China market only together with the Chinese partners. Besides, all transactions are obliged to carry out the foreign companies by means of the only system of electronic payments of China Unionpay Data from what the last takes huge benefit.In Japan the act regulating electronic money of pre-paid type is the "Law on payment services" which came into force on April 1, 2010. Direct operating activities are regulated according to "Order of application of the Law on payment services", "The resolution of the Secretariat of the cabinet on pre-paid payment tools", "The resolution of the Secretariat of the cabinet on Association of the certified systems of money transfers" and other documents.According to provisions "Law on payment services", electronic money on the basis of the server is classified as the pre-paid payment tool along with pre-paid payment tools on the basis of paper and magnetic carriers, and also on the basis of the chip. In case the general rest of electronic money in any electronic payment system exceeds the volume determined according to Position of the cabinet at the level of 10 million yens, the issuer has to notify on it regulators. In a case when as the issuer of electronic money the third party acts, this issuer has to be registered in advance. Issuers are obliged to provide to users all necessary information which structure is specified in the Law and the Resolution on pre-paid tools. In relation to electronic money on the basis of the server the relevant information, for acquaintance with it of users, has to be provided by means of suitable mass media, such, as, for example, websites of the Internet.Issuers of electronic money, both direct, and third-party, have to be inspected by regulators though according to earlier current legislation direct issuers were exempted from inspection.In Ukraine the sphere of the address of electronic money is regulated by "By the provision on electronic money in Ukraine", the approved resolution of board of National bank of Ukraine; laws of Ukraine "About National bank of Ukraine" and "About payment systems and money transfer in Ukraine".By "The provision on electronic money" it is established that release of electronic money in Ukraine have the right to carry out only banks. Thus, before issuing the electronic money and to start the electronic payment system, the bank is obliged to coordinate rules of this system with National bank of Ukraine.Situation provides possibility of natural persons to use electronic money for calculations with dealers for goods, and also to transfer electronic money to other users — natural persons. Subjects of managing also acquired the right to use electronic money as instruments of payment, but with restrictions: such electronic money has to be received in exchange for non-cash means and only for calculations with dealers for the goods acquired for production (economic) needs.The national bank of Ukraine limits the sum of electronic money which can be stored on the electronic device which is at the disposal of the user: on not filled up device — 2000 hryvnias, on filled up — 8000 hryvnias.It is allowed "to remove" electronic money to subjects of managing only in a non-cash form through the banks and non-bank financial institutions having the corresponding licenses (calculations agents).In Great Britain within the government program of development of private financing the contract with consortium Transys was signed (the Electronic Data Systems (EDS) companies (37,5% of stocks of consortium), Cubic Transportation Systems (37,5% of actions), ICL (20% of actions) and WS Atkins Rail (5% of actions) for implementation of the Prestige Transport for London project worth 1 billion pounds sterling and validity period of 17 years enter.Development technical and the software the ICL company, production, service and repair of the equipment - the Cubic company carried out, operation of system - the EDS company, planning and consulting services - the WS Atkins company.According to the Prestige Transport for London project on the subway and in buses of London the new system of collecting a fare by means of contactless smart cards was entered. The project was implemented step by step, within 4 years in due time to resolve all arising problems, and for the first year of work it was succeeded to realize 3 million smart cards. And as soon as smart cards took the place as a new payment method of journey on city transport of London, at once there was an opportunity and expediency of distribution of operations of multipurpose cards on calculations for other types of service.From the technical point of view the system of sale of tickets in Rome where for the first time from a number of the large European cities the system of the automated collecting and control of a travel payment with use of the electronic Metrobus card is put into operation on public transport is considered the most advanced.Passengers for cash money or on transfer buy units of account of transport payments which corresponding number is brought in the form of the deposit on a smart card. Further the determined sums are written off from the deposit by means of the special contactless terminals installed on an entrance and an exit of stations and stations, and also on a rolling stock.International payment systems: history, tendencies of development, prospectElectronic money emits electronic payment systems. These are the companies which are carrying out release of virtual bank notes, developing and introducing technologies of their circulation and providing everything to operation with the electronic currency. Often electronic payment systems are part of the largest Internet corporations, one of the directions of their activity.Each electronic payment system emits own electronic money which can correspond to different real currencies. Different electronic payment systems have a different level of development, different functionality, a different network of coverage, different mission. As a rule, electronic payment systems emit so much electronic money, how many in them there is a requirement, that is, in that volume in which users of electronic payment system place the real money for purchase of electronic currency. Release of electronic money is usually regulated by legislative norms therefore electronic payment systems which are registered and conduct the activity in the territory of the concrete country, have to adhere to these norms. However often it actually doesn't occur as it is very difficult to trace electronic money, and the legislation in this area remains imperfect so far.Electronic payment systems are earned on the fees which are charged for all operations with their currency.For successful operation of this payment tool, readiness of the organizations selling goods and rendering services to accept electronic money as payment is necessary. This condition was provided with the issuer's guarantees on payment of the sums in real currency in exchange for the electronic coins introduced by it into circulation.The scheme of functioning of system can be submitted as follows:The client transfers real currency to the account of the issuer, receiving in exchange the file banknote (coin) for the same sum minus the commission. This file confirms debt obligations of the issuer before his holder;The client pays with electronic coins goods and services in the organizations which are ready to accept them;The last return these files to the issuer, receiving from him in exchange real money.At such organization of work each of the parties has a benefit. The issuer receives the commission. The trading enterprises save on the expenses connected with the address of cash (storage, collection, work of cashiers). Clients receive the discounts caused by decrease in expenses at sellers.At the present stage treat the most popular electronic payment systems of the world:PayPal is the most popular world payment system functioning since 2000. To 2015 it I was structural division of the American company eBay which specializes on carrying out Internet auctions. In the 2014th year the largest trade Internet platform declared office of PayPal. Now the payment PayPal system functions in 203 countries of the world though in some of them there is no opportunity to use full functionality of electronic payment system. Operates with 26 world currencies, the number of her users comes nearer to 140 million.E-gold. The payment system emitting electronic money mainly in gold (at the rate of number of Troitsk ounces), and also in other precious metals. The e-gold system for the last years became popular among Internet swindlers and (Financial pyramids, it is actively applied in activity of an Internet casino and various virtual games on money. In recent years e-gold has not the best times: her founder was arrested, and transactions were periodically blocked.Perfect Money. The electronic payment system created in 2007, and operating mainly with euro, dollar and gold. Also I became famous for use in many financial pyramids, nevertheless, is rather popular in world calculations between individuals and representatives of business, it is actively used for payment of goods and services on the Internet.Visa QIWI Wallet. The payment system based on the account of Visa. The account can be linked as to the virtual, and plastic Visa prepaid card. Account replenishment is possible by means of various channels and sources of means (cash payments in terminals, ATMs, salons of communication, cash cards on the site or in ATMs, from the account of the mobile phone, bank transfers, various payment systems).WebMoney. International system of electronic calculations. One of the most popular electronic payment systems around the world. The WebMoney system provides the highest level of safety and confidentiality of all performed operations.