Innovative directions for the development of the Bank of Russia's payment system

In 2022-2025, the Russian economy faced unprecedented sanctions pressure, which directly affected the infrastructure of organizations' monetary settlements. The withdrawal of international payment systems Visa and Mastercard from Russia, restrictions on cross-border settlements, and the exclusion of some banks from SWIFT accelerated structural changes in the payment sector and stimulated the digital transformation of settlements. Against the backdrop of challenges, the national payment infrastructure demonstrated its resilience and a high pace of innovation, including the expansion of the Mir payment system, the development of the Quick Payment System, the expansion of the digital ruble pilot, and the inclusion of foreign participants in the Financial Message Transmission System. The purpose of this work is to identify innovative areas for the development of the national payment system and their integration with other innovations in the Russian financial system, as well as to analyze the impact of external economic sanctions on payment infrastructure and settlement practices, and to provide practical guidance for businesses.