TY - GEN

T1 - Constructing the unified payment area of the EAEU

T2 - 31st International Business Information Management Association Conference: Innovation Management and Education Excellence through Vision 2020, IBIMA 2018

AU - Baydukova, Natalya V.

AU - Chepakov, Dmitry A.

AU - Dostov, Victor L.

AU - Shoust, Pavel M.

PY - 2018/1/1

Y1 - 2018/1/1

N2 - The actual article is devoted to the study of the one of the possible ways to construct the unified payments area on the basis of existing national operating infrastructures. It is proposed, that the fundamental units for such area could be national payments systems of the member states of the Eurasian Economic Union due to the fact, that, as of today, despite the promising EAUE's geopolitical market position, it doesn't have any cross-border payment system or, at least, a mechanism for transferring of funds within the interconnections between legal entities within the EAEU's market, which affects negatively on the development of trade and economic relations. Article contains the following main conclusions and authors' elaborations: • proposes the general architecture of the unified payment area in the form of the payment system (RIFTS), states the general criteria for participation and identifies the problem of building the state's supervision structure on the international level; • describes the proposed RIFTS transactional capacities and channels; • presents the concept of the 'two-tier liquidity' and deduced formulas for calculating the minimum and optimal amount of funds within the concept.

AB - The actual article is devoted to the study of the one of the possible ways to construct the unified payments area on the basis of existing national operating infrastructures. It is proposed, that the fundamental units for such area could be national payments systems of the member states of the Eurasian Economic Union due to the fact, that, as of today, despite the promising EAUE's geopolitical market position, it doesn't have any cross-border payment system or, at least, a mechanism for transferring of funds within the interconnections between legal entities within the EAEU's market, which affects negatively on the development of trade and economic relations. Article contains the following main conclusions and authors' elaborations: • proposes the general architecture of the unified payment area in the form of the payment system (RIFTS), states the general criteria for participation and identifies the problem of building the state's supervision structure on the international level; • describes the proposed RIFTS transactional capacities and channels; • presents the concept of the 'two-tier liquidity' and deduced formulas for calculating the minimum and optimal amount of funds within the concept.

KW - Eurasian Economic Union

KW - Payment system

KW - Settlements

KW - Unified Payment Area

UR - http://www.scopus.com/inward/record.url?scp=85063048593&partnerID=8YFLogxK

M3 - Conference contribution

AN - SCOPUS:85063048593

T3 - Proceedings of the 32nd International Business Information Management Association Conference, IBIMA 2018 - Vision 2020: Sustainable Economic Development and Application of Innovation Management from Regional expansion to Global Growth

SP - 4971

EP - 4987

BT - Proceedings of the 32nd International Business Information Management Association Conference, IBIMA 2018 - Vision 2020

A2 - Soliman, Khalid S.

PB - IBIMA

Y2 - 25 April 2018 through 26 April 2018

ER -