Digitalization of Payment Systems in Ukraine
Valentyna Yakubiv1, Ruslana Sodoma2, Tetiana Shmatkovska3, Mykola Dziamulych4, Iryna Brodska5
1Valentyna Yakubiv, Professor of the Department of Management and Business Administration at Vasyl Stefanyk Precarpathian National University, Ukraine.
2Ruslana Sodoma, Associate Professor of the Department of Finance, Banking and Insurance at Lviv National Agrarian University, Ukraine.
3Tetiana Shmatkovska, Associate Professor of the Department of Accounting and Audit at Lesya Ukrainka Eastern European National University, Ukraine.
4Mykola Dziamulych, Associate Professor, Department of Economics, Lutsk National Technical University, Ukraine.
5Iryna Brodska, Associate Professor of the Department of Accounting and Audit at Lutsk National Technical University, Ukraine.

Manuscript received on January 05, 2020. | Revised Manuscript received on January 25, 2020. | Manuscript published on January 30, 2020. | PP: 4590-4596 | Volume-8 Issue-5, January 2020. | Retrieval Number: E6814018520/2020©BEIESP | DOI: 10.35940/ijrte.E6814.018520

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© The Authors. Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC-BY-NC-ND license (

Abstract: The world is changing due to technological innovations that are reflected in both the customers’ needs and the payment systems themselves. Payment systems that operate on the territory of Ukraine have certain properties, which the potential client draws attention to when choosing one of them. Let’s conduct complex research and we will propose solutions of a relevant scientific task which consists of the development of theoretical and methodological foundations, methodological approaches and practical recommendations on the implementation and improvement of the functioning of payment systems in Ukraine in the light of world experience. Modern payment systems are one of most the important and fundamental parts of Ukraine`s financial infrastructure. The article offers a theoretical understanding of the payment system and considers the peculiarities of the payment systems functioning in Ukraine at the present stage. The payment systems market and its structure are presented in details. Payments and transfers number are highlighted. The statistics on illegal payment card transactions are reviewed. The payment systems of the leading European countries are characterized. The prospects of the National Bank of Ukraine with the largest European payment systems are described. On a basis expansion of the structure of criteria of the importance of payment service providers and accounting of the presence of crucial participants in payment service providers is developed a methodical approach to the assessment of the priority of payment service providers. The practical value of the received results consists in their use for the development of normative legal acts of the National Bank of Ukraine, the safety of payment service provider of Ukraine regulating an order. Measures to increase payment system`s security level in Ukraine are outlined. For the banking system of Ukraine, European experience in the field of payment systems is very important, as today the concept of borders is quite conventional when it comes to payment services. In this regard, determining the priority of payment systems that operate in Ukraine is of particular importance, which determines the relevance of the chosen topic.
Keywords: Payment Systems; Cross-Border Transfers; Innovative Services; Electronic Payment System.
Scope of the Article: Nano Electronics and Quantum Computing.