Financial and political aspects of the development of the national payment card system (“MIR”)

Payment systems were created in response to the need to facilitate increased trade and stimulate economic development by facilitating the transfer of funds between financial institutions, businesses and individuals. The most important factor in the stability of the financial sector is national payment systems, which help ensure financial stability by reducing settlement risks. The presence of a highly developed national payment card system indicates a high level of development of the economy and financial system. In Russia, during a rather difficult period, against the backdrop of the introduction of sanctions and the refusal of the international systems Visa and MasterCard to service cards of Russian banks, the creation of the Mir payment system began. The idea was not only to issue its own cards, but also to ensure that they were processed domestically. For Russia, taking into account political and economic aspects, it is important to have a stable and reliable national payment card system that guarantees uninterrupted and secure banking transactions. In order to ensure the implementation of the country’s national interests, the national payment card system needs its further development (solving cybersecurity problems, wider distribution within the country and abroad, etc.) - which is why the study of this topic is of great importance and relevance.