Visa and Mastercard systems in Russia. Description of Visa and Mastercard payment systems

The payment system is a community of methods and instruments used for money transfers, settlements and regulation of debt obligations between participants in the economic turnover. In many countries, they are significantly different from each other because of the diverse provisions in the levels of economic development and the specifics of banking legislation.

Varieties of payment systems

All payment systems are divided into two types: international and local.

• The first type includes Visa and MasterCard, Diners Club and American Express.
• The second type is "Sberkard" (cards are accepted only in "Sberbank" and in partner organizations), Union Card, NPS and others.

The higher the status of the settlement organization, the more places its products are accepted. Usually the form of the payment system does not affect the additional costs of the holder on the card. So, Visa and Mastercard - what to choose?

Visa payment system

Visa International Service Association is the world's leading payment system based on the dollar, so all currency conversion operations pass through it. Priority in the work of this company is given to the development of the credit card market. The trade turnover totals approximately 4.8 trillion dollars a year. This system is listed in 30 million trading and service companies in more than 200 countries. It is serviced by one million ATMs around the world. The number of institutions that are members of the system, in the total amount exceeds the limit of 20 thousand units. It is Visa that owns more than 50% of the turnover of funds of payment organizations worldwide. The number of issued cards fluctuates around 2 billion pieces. In Western countries POS-terminals are located in almost all large stores or restaurants. Having a Visa card with credit facilities or with a non-zero debit account, everyone can pay for goods and services by a non-cash method, of course, provided that the bank equipment is at the right level. The advantages of the system:

• Access to money around the clock, anywhere in the world, as well as using the Internet;
• The ability to transport foreign currency across the border without being subjected to the customs declaration procedure;
• Instant, without commission, writing-off of funds from the card (this requires a POS-terminal settlement) all over the world;
• The ability to transfer certain amounts to various accounts, as well as many other services.

Visa on the Russian market of banking services

Over the past decade, the Visa service market in Russia has been one of the most dynamic. Salary cards have many employees of enterprises and organizations, and the form of non-cash payments is becoming more acceptable and desirable. Today, in the territory of the Russian Federation, it is almost impossible to imagine any large supermarket or car refueling station without a POS terminal that is able to accept payment means of this company for cashless payment.

MasterCard payment system

MasterCard International is an international payment system that unites more than twenty thousand financial institutions in more than two hundred states. The main objectives of the company:

• Maintenance of settlement needs of individuals, as well as legal entities;
• Implementation of card issuance programs that are issued under the brands MasterCard, Maestro and Cirrus.

Priority direction of development at the present stage are electronic payments in the Internet.

In 1966, several banks in the United States signed an agreement, the purpose of which was the creation of the Interbank Card Association. Already by 1968 the company began cooperation with the Eurocard payment system. The name MasterCard was approved only in 1979. In 1980, this organization took the leading position in the world market - the number of issued cards reached 55 million. By 2006, the system was recognized as one of the most effective and reliable. More than 25% of bank cards of the world belong to this company. More than 23 billion transactions are carried out annually in MasterCard.

There is a special service for card users - the mobile application MasterCard FAVORITE - the phone allows you to view the current information.

MasterCard system in Russia

The use of MasterCard in the territory of the Russian Federation becomes more intensive every year. Russia is considered a promising state for expanding the functionality and development of this payment system. Over the past few years, MasterCard already has no significant separation from the leading company in the non-cash payment sector - Visa. 38.5% of plastic cards on the Russian market are owned by MasterCard. The total number of them is about 27 million copies. MasterCard cooperates with Sberbank, TreasCreditBank, MasterBank and Russian Standard.

MasterCard and electronic payments

In 2013, the amount of online payments in the MasterCard system increased by 25%. Also, the number of users who have expressed their intention to purchase cards for online payment has increased. The range of services provided in this industry is actively developing. The management of the company intends to create its own service (PayPass Wallet) as an electronic wallet. Its implementation so far only planned, but many Internet resources have already announced their intention to connect payment for sites using this type of calculation.

How to get a bank card of the international payment system

The method of obtaining Visa and MasterCard is quite simple:

• Contact any of the banks of the world that support this system;
• If there are documents proving the identity (usually a passport), conclude a service agreement.

As for the cards themselves, they can be both debit and credit.

The first type is the one on which you can only use the amount transferred to them. In a situation where the funds on the card have run out, they need to be transferred to your account for further consumption of the services offered by the system. At the same time there are cash limits, which are problematic to increase their size.

Credit cards are more profitable to use - all payments are covered by a certain amount issued by the bank. It is only necessary to repay the debt before the expiration of the term and then the account again accumulates money for a loan. Most cards on the territory of Russia are debit, unless another option has been explicitly provided for in the contract.

Realization of calculations in the network

Not all of the international debit cards can be used to pay for services and purchases on the Internet. For the Visa card system, this is Visa Gold, Visa Classic and higher or specially created for the Visa Internet network, which is analogous to Visa Classic. With the help of Visa Electron card you can withdraw money in terminals, but calculations on the Internet are not available if there is no CVV2 on it. A VISA Virtual card was also developed, specifically designed for transactions on the network and in order to increase users' confidence in commerce through the network.

For the MasterCard payment system, MasterCard Standart and above are suitable for online payments. A Master Card Maestro (debit card), similar to Visa Electron, is used only for procedures for performing offline transactions (there is no CVC2 on it).

If on the sites one of the methods of replenishment / withdrawal of funds is indicated by Visa Electron or Maestro, in this case it refers to payments using various foreign electronic payment systems similar to Moneybookers, or to cards issued by certain banks in the West (having the code CVV2 or CVC2).

Visa and Mastercard system in Russia - current situation

In the course of the current situation in Ukraine, on March 21, 2014, certain systems (in particular Visa and Mastercard) were sanctioned by some Russian banks. The cards ceased to function in retail outlets and fixed cash dispensers. The most unpleasant thing is that Visa and Mastercard blocked the payment system without any warning. About half a million holders of these companies' cards were in a quandary. But, as is known, these organizations are interested in further cooperation with the Russian Federation, and therefore two months after the incident, the international payment systems and the government agreed on the continuation of the work of companies in Russia. During the negotiations, amendments were made to the legislative base of the Russian Federation "On the national payment system": foreign corporations are obliged to quarterly place on the special accounts of Sberbank contributions for a quarter of the daily money turnover of the system (that is, about $ 100 million for each).

In the future, it is planned to integrate Visa and Master Card subsidiaries in Russia into the national payment system. Two different organizations will be created. The bill on this topic has already been submitted to the State Duma of the Russian Federation. Another issue is that the transfer to a single national accounting system of all its participants will take more than one month. But this necessary measure should be implemented for a safer economic situation in the country and the protected situation of every citizen of Russia.