PROBLEMS AND DIRECTIONS OF ACTIVATION OF NON-GOVERNMENTAL PAYMENTS IN THE CONTEXT OF DEVELOPMENT OF DIGITAL ECONOMY IN UKRAINE

  • D. Hladkykh
Keywords: cash, cashless payments, payment cards, electronic money, mobile payments

Abstract

The features of cash and cashless settlements in different countries of the world are determined. The problem of maintaining high specific weight of cash settlements in Ukraine is considered. The factors that determine the popularity of cash settlements (a significant proportion of unofficial incomes, the existence of a shadow economy, insufficient level of financial awareness, high level of dollarization of the economy, ease of use, lack of control of cash flow outside banks, distrust of banks) are investigated. Outlined the negative consequences of the growth of cash outside the banks (a decrease in the supply of currency in the market, which leads to significant fluctuations in the exchange rate, the reduction of the possibility of increasing foreign exchange reserves, reducing investment and credit resources, which increases the demand for foreign loans and leads to an increase in external debt, a reduction in the tax base; the preservation of the shadow economy; an increase in the outflow of foreign currency abroad); certain advantages of introduction of cashless economy (ease of use; access to new services; legalization of incomes; minimization of risk of fraud; reduction of operational expenses of banks; increase of their commission income; improvement of liquidity indicators; expansion of customer base; growth of sales of trade enterprises; decriminalization and depilation of the economy; the growth of the tax base through increased transparency of business); it is determined that the most promising types of cashless payments that require state support are: electronic money; mobile payment systems; acceptance of cash payments for further transfer; grounded measures that can lead to a gradual withdrawal of cash from circulation and full transition to cashless settlements in Ukraine (transfer of all state transfers to non-cash forms; increase of cash value for users; development of a network of terminals; increase of financial awareness; provision of payment for utility bills, services state bodies, taxes by means of payment cards; further reduction of the limits of cash payments; increased confidence in banks; reduction of tax pressure for business, stimulate the development of mobile applications, improving the safety of cashless payments, the introduction of cashless payments for transport services).

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Published
2018-12-19
How to Cite
Hladkykh, D. (2018). PROBLEMS AND DIRECTIONS OF ACTIVATION OF NON-GOVERNMENTAL PAYMENTS IN THE CONTEXT OF DEVELOPMENT OF DIGITAL ECONOMY IN UKRAINE. Strategic Priorities, 48(3-4), 108-119. Retrieved from https://niss-priority.com/index.php/journal/article/view/226