INFORMATION TECHNOLOGIES OF ELECTRONIC PAYMENT SYSTEMS IN THE CONTEXT OF DIGITAL STATE DEVELOPMENT

Abstract

The article examines modern information technologies of electronic payment systems in the context of digital state development. The architecture of payment systems is considered at two levels: the procedural level – transaction authorization, clearing, and settlement; and the algorithmic level – transaction routing algorithms, payment prioritization, load balancing, and anomaly detection. Standards for financial message exchange are analyzed, in particular ISO 20022, the SWIFT information transfer system, as well as the use of unified XML data structures to automate processes and ensure system interoperability. The role of ML and GenAI technologies is explored. Security and control mechanisms are highlighted separately, including multifactor authentication, tokenization, cryptographic protection, antifraud systems, and real-time monitoring systems. The importance of financial data in forming transactional (informational) flows that serve as the basis for analytics, forecasting, and control is analyzed. An example of Open Banking secure data exchange between banks and fintech companies via APIs is presented. Particular attention is paid to the development of the national payment ecosystem, modernization of interbank settlements, integration of government digital services, and implementation of instant payments. The key role of IT in ensuring the effective functioning of electronic systems in the digital economy is emphasized. It is concluded that further development of payment technologies, central bank digital currencies, and decentralized financial solutions determines the prospects for the formation of a global information payment environment.