Olena Slozko,

Department of International Financial Research,

The Institute of Economy and Forecasting of the National

The ELECTRONIC PAYMENTS

AS A MAJOR FACTOR FOR FUTHER ECONOMIC DEVELOPMENT

Academy of Science of Ukraine,

Kyiv, Ukraine,

E-mail: slozko2003@ukr.net

Anna Pelo,

Department of International Financial Research,

The Institute of Economy and Forecasting of the National

Academy of Science of Ukraine,

Kyiv, Ukraine,

E-mail: annapelo@ukr.net

ABSTRACT. The phenomenon of global financial market transformation in the term of IT influence on the world economy is examined in the paper as the result of Information and Communication Technology and financial market integration. The digital nature of global financial-monetary system is actualized in the term of modern problems. Also the paper investigates possible effects of financial transformation on world economic system. The authors believe that it is necessary to transform the financial system according to its information and digital nature.

Received: April, 2014

1st Revision: June, 2014

Accepted: September, 2014

DOI:10.14254/2071-789X.2014/7-3/10

JEL Classification:B22, C40, C87

Keywords: digital money nature, e-payments, Information and Communication Technology, monetary policy, international monetary and financial system.