THE ROLE OF TECHNOLOGIES IN THE GLOBALIZATION OF PAYMENT SERVICES

Abstract

The article examines the role of technologies in the globalization of payment services, highlights the prerequisites for their emergence, examines the process of globalization of the world economy, which contributes to the development of informatization in the field of payment services, the spread of information technologies and the expansion of access to them for enterprises and consumers of services in different countries of the world, considered the main payment systems on the world market of international payment services for the processing of currency transactions and their advantages and disadvantages are determined, technologies that ensure coordinated interaction of market participants are identified. Among modern payment systems, those that play a key role in the functioning of the economic mechanism of the market are singled out, because they are the ones that receive increased attention and constant control by regulators. Special attention is paid to the segment of retail payment services of the global market, where a wide range of various payment tools and means are used, which are constantly being improved, take new forms and adapt to different devices. It was found that thanks to technology, electronic means of payment, including electronic money, have numerous advantages, but they also carry significant risks for consumers of international payment services, which raises the question of creating mechanisms to minimize or even eliminate the risks associated with international payment services. that use electronic payment systems. It highlights technology trends in the financial sector and examines the regulatory push to advance digital technologies that have made the financial sector attractive to new players such as startups and large technology companies. At the same time, in the global payment space, the intensive development of international payment services is accompanied by the spread of the electronic money segment, which prompted economically developed countries to develop new methods of regulating electronic payments in order to reduce risks, establishing a system of transaction limits and monitoring cash flows to identify typical patterns that susceptible to fraud. It is substantiated that the introduction of new technologies in all spheres of international business leads to the formation of new integrated network structures and leads to the transformation of the payment services market.