Seminar “Conglomerates of Payment Providers and Foreign Trade Companies” as part of the project “Approaches to an Alternative International Monetary System”
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On March 11, 2026, the Faculty of World Economy and International Affairs hosted a seminar of the joint research group of HSE University and the University of Campinas as part of the project “Approaches to an Alternative International Financial System”. The project participants, Senior Research Fellow S.A. Radionov and Leading Research Fellow A.A. Ponomarenko, presented the results of their study on opportunities for integrating payment providers and foreign trade companies.
As part of the study, they developed a model of international trade that includes conglomerates of payment service providers with either exporters or importers. The study found that the emergence of such conglomerates leads to a reduction in commission fees in the payment services market, provided that the share of foreign trade firms participating in them is substantial. A conglomerate involving importers generally results in lower payment commissions compared to a conglomerate involving exporters. However, achieving the required size may be more feasible for conglomerates based on exporters.