Updating the conceptual model of the payment market in the digital economy

Being a channel for technological innovations and ensuring their diffusion in the social and economic area, the Russian national payment system has a sufficient capacity to integrate its elements and payment services into the digital economy and evolve in accordance with the needs of the digital ecosystems and digital society. The study proves that the payment systems and payment market in digital economy improve public welfare and quality of life, make the modern digital financial services available, and increase financial and digital literacy. The author proposes the conceptual model of the digital payment market which includes market institutions and infrastructure, platforms and technologies, new payment market segments in the digital environment under the state protectionism. The model corresponds to the strategy of information society development, sustainable economic dynamics of the payment market and drives innovation across economic and social sectors.