Financial and Legal Regulation of Faster Payments System

Purpose. The article examines the issues of legal regulation of the functioning of the fast payment system, which is considered as an infrastructure element of the payment system of the Bank of Russia. An analysis of the legal nature of the fast payment system is carried out. It is concluded that the fast payment system is not a payment system and a type of electronic money from the point of view of the current Russian legislation. The purpose of the work was to form the author›s definition of the legal nature of the fast payment system as a category of financial and legal regulation. Due to the increased interest in the service, it was proposed to improve security measures when making payments by using additional user authentication, which will affect the financial security of decentralized funds of funds. Methodology: within the framework of the work, comparative legal and formal dogmatic methods were used, since the definition of the legal nature of the fast payment system required an appeal to various sources of financial and civil law. Conclusions. The author comes to the following conclusions: 1) the prospects for further development of the service in question, since in the economic sphere there is a need to reduce the cost of money transfer operations; 2) the fast payment system can be considered as a method of transferring funds, an element of the product subsystem of the national payment system. Scientific and practical relevance. The issues discussed in the article will allow researchers and practitioners to understand the legal nature of the fast payment system and development trends.