E-MONEY AND ELECTRONIC PAYMENT SYSTEMS. PROBLEMS AND TRENDS

Abstract

This research paper focuses on e-money and electronic payment systems that is extremely relevant topic within the current pandemic situation. Recently, we became witnesses with the globalization of markets and growth of e-commerce. It is obvious that money transactions became digital, electronic payments systems became our daily payment tool. All these globalization and digitalization are changing the culture of shopping, conducting business, accepting e-money as means of payment. At the same time, there are number of people that cannot accept any type of money except cash money. However, a number of issues, especially the digital money market, coverage and security, legal issues and some other aspects remain poorly understood. Thus this paper is made to make majority of population to be acquainted with the e-money, electronic payment systems, their problems, trends, their advantages and disadvantages as a whole from the legal perspectives.
Keywords: electronic money; electronic payment system; means of payment; monetary regulation.