THE ROLE OF ELECTRONIC PAYMENT SYSTEMS IN THE STRUCTURAL MODERNIZATION OF THE ECONOMY AND THE FORMATION OF A NEW ARCHITECTURE OF INTERBANK RELATIONS

Abstract

This article examines the current state and evolution of electronic payment systems as a key factor in the structural modernization of the economy. It describes the institutional changes in the banking sector, as credit institutions transition from resource accumulation functions to the role of infrastructure operators of information and financial flows. It substantiates that the speed of settlements, the level of automation, and the technological connectivity of participants are becoming decisive factors in the competitiveness of the state's financial system. The article presents the impact of technological factors in the modernization of payment infrastructure on accelerating settlements, increasing the transparency of financial transactions, and strengthening the reliability of payment services. It illustrates how the implementation of intelligent data processing systems, distributed ledgers, and automated payment flow management algorithms creates the preconditions for increasing the efficiency of interbank settlements and expanding the availability of financial services. It is concluded that the effectiveness of the development of electronic payment systems is determined by the consistency of technological, institutional and managerial mechanisms that ensure the sustainable functioning of the financial system in the context of the digital transformation of the economy.