Abstract
The paper is devoted to the study of innovations in the market of modern payment systems. The pandemic and quarantine restrictions have accelerated the expansion of the payment infrastructure in Ukraine, which in turn raises the issue of security of electronic payment systems. Ukrainians are more actively switching to electronic payments. At the same time, the trend of growing popularity of contactless payment instruments and settlements with them continues. A comparative analysis of the security of payment systems using electronic technologies in the implementation of money transfer services in Ukraine has been performed. The components of the payment system, information security measures in the electronic payment system have been also considered. The schema of electronic payments and the block diagram of the information protection subsystem of electronic payment system have been constructed. The criteria for assessing the security of the electronic payment system have been determined. A total of fifteen safety criteria have been identified, they are divided into six groups according to the degree of safety. Six electronic system payments were used for the study and the research results have been presented in this paper. The tendencies of development of electronic payment systems in modern conditions and ways of improvement of their activity taking into account the newest information technologies have been outlined.
Highlights
In today’s world, settlements between economic agents are impossible to imagine without the use of payment systems
During the work were used: system method, which allows investigating the development of electronic payment systems; methods of analysis and synthesis, induction and deduction, systematization, logical approach, grouping and generalization
The pandemic and quarantine restrictions have accelerated the expansion of the payment infrastructure, which in turn raises the issue of security of electronic payment systems (National Bank of Ukraine, 2020)
Summary
In today’s world, settlements between economic agents are impossible to imagine without the use of payment systems. Ubiquitous access to communication channels, as well as the rapid development of new information technologies, the rapid spread of new payment methods, the emergence of alternative devices used, increasing demands on the development of electronic payment systems. This trend forces payment system operators to constantly improve payment services, and raises questions about the effective security of electronic payment systems. There are two serious problems – unauthorized debiting of funds from bank cards or accounts of legal entities and the general guarantee of preservation of payments made through non-bank payment transfer systems
Sign-in/Register to view highlights & summary Sign-in/Register to access full text options 
Free) 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
