Electronic means of payment: essence and development prospects

With the development of digital technologies and increase in the number of online transactions, electronic means of payment (hereinafter referred to as EMP) are becoming more in demand. They offer convenience, security, and efficiency, which makes them attractive to both private users and businesses. The issues of regulation of innovation in the sphere of financial technologies, and adoption of digital currencies by central banks highlight the importance of this topic. Thus, the relevance of studying the EMP is determined by their role in the formation of a universal payment environment that unites buyers and sellers of goods and services. The EMP are an important component of a market economy, and their importance constantly increases. Studying them allows us to assess the degree of impact of this phenomena on the economy, life, and activities of people. In this study, the main types of the EMP are considered, and their main advantages and disadvantages are characterised. An overview of the key regulations governing various aspects of noncash payments has been conducted. The information about payments in electronic form as well as their number in the territorial context, etc. are analysed. In addition, according to the results of the study, measures necessary to improve the safety of using the EMP are proposed.