FUNCTIONING AND DEVELOPMENT OF PAYMENT SYSTEMS IN THE CONDITIONS OF DIGITAL TRANSFORMATIONS
YURCHUK Natalia – Candidate of Economic Sciences, Associate Professor of the Department of
Computer Science and Economic Cybernetics, Vinnytsia National Agrarian University (21008, 3.
Sonyachna str, Vinnytsia, е-mail: email@example.com).
The article considers and analyzes the current state and main tendencies of development of payment
systems in the conditions of digitalization.
The essence is disclosed of such definition as: "payment system". Approaches to defining the
classification features of payment systems and the key elements of functioning payment systems are
considered. It is indicated that the National Bank of Ukraine is the national regulator of payment and
settlement systems in Ukraine. The National Bank of Ukraine is a payment organization and a settlement
bank for two state payment systems: the electronic payment system and the National Payment System
"Ukrainian Payment Space". To increase the reliability and efficiency of payment systems, the NBU
distinguishes them by the level of importance.
Current payment systems in Ukraine are analyzed. It is determined that there are 46 Ukrainian and
international payment systems in Ukraine, owned by banking and non-banking organizations, residents
and non-residents of Ukraine, among them one systemically important payment system of the NBU SEP,
six socially important payment systems, five important payment systems. Among the card payment systems,
there are two Ukrainian and four international.
Positive dynamics of growth in the volume of non-cash transactions, including contactless payments,
which corresponds to global trends, are revealed.
Innovative payment systems using mobile applications and API-access to payment services are
considered, electronic means of access such as mobile devices, mPOS-terminal, biometric data,
contactless technologies − NFC-technologies, QR-technology, NS-technologies are investigated.
The factors that influence the functioning of the national payment system are identified.
Measures are proposed for the development of payment systems, which will contribute to the
development of the economy as a result.
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071 Accounting and taxation
072 Finance, banking and insurance
076 Business, trade and exchange activities
241 Hotel, restaurant and catering
281 Public administration
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