Вопросы экономики 53 Finance and credit ISSN 2311-8709 (Online) ISSN 2071-4688 (Print) THE CONTACTLESS MASTERCARD PAYPASS TECHNOLOGY AND PROSPECTS FOR ITS DEVELOPMENT IN RUSSIA Natal’ya S. KOZYR’, Anastasiya V. GETMANOVA Abstract At present, millions of people use bank cards, however, cardholders face many problems: loss of a bank card, its damage, theft of funds from bank account, ill-designed scheme of application. <...> The developed contactless cards, including MasterCard PayPass, intend to solve these problems. <...> The article describes the purpose of the contactless system MasterCard PayPass, analyzes the experience of the system development in Russia and abroad, and reveals the causes of its success and main advantages. <...> We systematized its functionality for users and developed recommendations to promote the PayPass system and contactless payment systems in Russia. <...> The article describes the NFC (Near Field Communication) technology as a basis of the mechanism of contactless bank payments. <...> In this work, we define the elements of a contactless payment system, their interrelation and impact on the performance of MasterCard PayPass. <...> We emphasize that the measures to be taken by the issuers of the PayPass technology to promote the proposed system include awareness raising about contactless technologies. <...> Keywords: bank cards, contactless payment systems, MasterCard PayPass References 1. <...> Kizim A.A. Bankovskaya logistika: problemy i perspektivy razvitiya [Bank logistics: problems and prospects for development]. <...> Kozyr’ N.S., Tolstov N.S. Internet-banking v RF: sostoyanie i perspektivy razvitiya [Internet-banking in the Russian Federation: status and prospects for development]. <...> Ekonomika: teoriya i praktika = Economics: theory and practice, 2013, no. 4, pp. 5–12. 4 (628) – 2015 Finance and credit Issues on economics Issues on economics Вопросы экономики 54 9. <...> Kozyr’ N.S., Tolstov N.S. Elektronnye den’gi: predposylki vozniknoveniya i perspektivy razvitiya v RF [Electronic money: preconditions for emergence and development prospect in the Russian Federation]. <...> Listopad M.E. Sistemnyi vzglyad na klyuchevye faktory natsional’noi bezopasnosti [A systembased attitude to the key factors of national security]. <...> Mishchenko L.Ya., Listopad M.E. Zakonomernosti funktsionirovaniya i razvitiya natsional’noi sistemy ekonomicheskoi bezopasnosti [Regularities of functioning <...>