Legal and regulatory aspects of the regulation of the market of bank payment cards in countries with developed card markets

Payment card - is not only a means for generating a stable liabilities, it is also one of the most powerful tools that affect the structure of payment transactions. Therefore, the study of card payment systems at the macro level and the development of relevant theoretical research has become essential for the development of economic science.

State policy can limit or expand the use of international payment cards, labor and employment policies to stimulate payroll and benefits for payment cards, investment policy to attract investment in the technologies and infrastructure of the market, in the framework of monetary policy, banks and financial institutions, interested in improving opportunities for lending and investment can increase the number of payment cards issued by them to their customers. From other point of view, the development of payment cards market facilitates the monitoring of income and expenditure for the agents of the economy of fiscal policy and work with the money supply in the framework of monetary policy.

Single point of view on the concept and the legal nature of a credit card does not exist. For example, some scientists believe that the bank card - a mean (tool) of control of the holder in cash in order to pay for goods and services as well as for cash and currency.

According to other authors, the bank card is a document issued by a credit institution to confirm placement of the bank account funds in the currency specified in the contract under which the card holder is able to repeatedly withdrawn from the account cash and (or) to pay for services

In some countries, payments based on bank cards, are governed by special laws. For example, in England, individual credit cards are subject to the Code of Good banking practice, as well as a number of the provisions of the Consumer Credit 1974 Code of good banking practice is not a normative act. Affiliate persons promise to act fairly and reasonably in all transactions with citizens. The Code sets minimum standards of integrity of credit institutions.

So, the objects of this article are modern trends in legal and normative regulations of the payment card market and the main focus of the work is on the developed payment card markets.