The Basis of the market regulation of payment cards

Abstract
The article is devoted to basics and the regulation problems of the modern payment cards market. In particular, it addresses the key participants in a payment system, which include the Central Bank, credit organizations, settlement and clearing centers. The paper explores the basic functions of the participants. The author analyzes approaches of card payment systems to development and implementation monitoring of standards and regulations relative to the technology: hardware and software, communication channels, etc. The article contains analysis of information exchange in the framework of payment cards market and specific features of the design and development of a payment infrastructure. It discusses the economic model of the payment cards market, which is based on commission payments. The paper describes the key fees. At the final stage of the study, the author examines the role of different global regulators in the payment card market, conducts an analysis of the foundations of the Russian legislation regulating this market.

Keywords:
debit card, plastic card, card payment system, the payment card market, Visa, MasterCard, American Express, JCB, Discover Card, Central Bank, credit organizations, settlement centers, clearing centers, Issuer, acquirer, EMV, ISO, BIN, PCI DSS



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