The specifics and problems of the retail payments development using bank cards in the mountainous regions of Russia (the example of the republic of North Ossetia – Alania)

Introduction. The article discusses the features and problems of the development of retail payments using bank cards in the mountainous regions of Russia (using the example of the Republic of North Ossetia – Alania). The data on the bank payment card market in the republic is analyzed, conclusions are formulated regarding current trends and problems of market development, and forecasts for the market are made. Materials and methods. The study is an analytical review based on secondary sources of information: official data from government agencies, periodicals, and online publications. Results. A general analysis of the retail cashless payments market in North Ossetia shows that the popularity of plastic cards in the republic is steadily growing. The key factors determining the growth of card transactions in North Ossetia – Alania are the convenience of this payment instrument and the activity of banks in the implementation of various bonus programs. Discussion. In the Republic of North Ossetia – Alania, there is still a significant unevenness in the distribution of services related to the use of bank payment cards. A serious problem for the distribution of card payment services is also the low level of trust of the republic’s residents in credit institutions. The situation is complicated by the instability of the region’s banking system as a whole. Conclusion. The research has shown that the market of bank payment cards in the Republic of North Ossetia – Alania has significant growth potential, primarily due to increased availability of payment services in small and hard–to-reach (including mountainous) settlements. Resume. To realize the potential of the Republic of North Ossetia – Alania in the field of retail payments based on bank cards, it is necessary to develop the payment infrastructure, as well as increase the financial literacy of the population and motivate them to actively use payment cards. Suggestions for practical application and direction of future research. The conclusions and practical recommendations given in the article can be used by regional and municipal authorities, as well as banks, in the development and implementation of measures to develop the retail payment market.