Payment Services Availability in the Context of Digital Transformation of Financial Markets

DOI

10.2991/aebmr.k.201215.004How to use a DOI?

Keywords

financial inclusion, digital transformation, G20 countries, payment system, payment services availability, payment products and services, bank card, ATM, fast payments, electronic money

Abstract

The article discusses the issues of increasing financial inclusion based on the development of payment services, taking into account modern processes of digitalization of the economy. Various approaches to the content of the concept of “financial inclusion» and their evolution are presented on the basis of Russian and foreign authors’ researching of scientific publications, as well as its definition in materials of central banks and international organizations. The necessity of developing a toolkit for a comprehensive assessment of the development of the level of accessibility of payment services as a component of monitoring financial accessibility in various countries has been substantiated. Based on the data on the statistics of payment, clearing and settlement systems BIS, an integrated index of the sustainability of the development of financial accessibility of payment services of the G20 countries was determined, reflecting the level of development of each country, the level of development of the infrastructure of its payment system and payment services and their adequacy to the problems of digital transformation of financial markets, as well as the level of demand for payment services. According to the proposed method, a rating was compiled for a comprehensive assessment of the level of financial availability of payment services in the G20 countries, which made it possible to distribute the latter according to the stability groups of the process of increasing the availability of payment products and services.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Anzhelika Gulko
AU  - Tatyana Saprykina
AU  - Elena Pashkova
PY  - 2020
DA  - 2020/12/17
TI  - Payment Services Availability in the Context of Digital Transformation of Financial Markets
BT  - Proceedings of the 8th International Conference on Contemporary Problems in the Development of Economic, Financial and Credit Systems (DEFCS 2020)
PB  - Atlantis Press
SP  - 16
EP  - 20
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.201215.004
DO  - 10.2991/aebmr.k.201215.004
ID  - Gulko2020
ER  -