TRANSFORMATION OF THE PAYMENT SEGMENT IN THE FINANCIAL TECHNOLOGY SECTOR
Abstract
The article examines the transformation processes of the payment seg-ment in the financial technology sector, which are accompanied by significant institutional changes related to the improvement of the regulatory environ-ment, the development of digital identification of non-cash payments, the in-troduction of new data protection mechanisms and ensuring cybersecurity. It is proven that effective management of the payment segment in the financial technology sector provides the prerequisites for strengthening financial stabil-ity and sustainable economic development. Promising directions for the devel-opment of the payment segment in the financial technology sector are identi-fied, including the integration of open banking into the financial services eco-system to improve instant payment systems and the development of central bank digital currencies according to European standards.
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