DEVELOPMENT OF INFRASTRUCTURE FOR CASHLESS PAYMENTS IN FINTECH REVOLUTION CONTEXT

Abstract

The article emphasizes an active transition towards a cashless economy and that this process is widespread, largely driven by the rapid development of financial technologies (FinTech). In this context, the article aims to identify the features of infrastructure development for cashless payments against the backdrop of significant changes in the financial sector, driven by the rapid growth of a new industry that leverages modern technologies to simplify and enhance financial services. The study demonstrates that the infrastructure for cashless payments is a constantly evolving network that facilitates financial transactions without using cash. At the same time, since all components of this infrastructure must operate synchronously at a global level, supporting transactions involving different currencies, regulatory requirements, and security standards, its evolution is driven by blockchain, artificial intelligence, and biometric data.

Keywords

• financial technologies
• blockchain
• artificial intelligence
• biometric data
• payment systems
• payment terminals