Development of payment infrastructure and services

The article is devoted to the analysis of the development of payment infrastructure and services in the context of digital transformation. The paper examines the theoretical foundations of payment systems, their evolution from traditional methods to modern technologies, as well as key trends such as fintech innovations, blockchain and mobile payments. Special attention is paid to challenges, including transaction security and regulatory aspects, and the prospects for further development of the industry. The article will be useful to experts in the field of financial technologies, economists and anyone interested in digitalization of payments. Research objective is to analyze the development of payment infrastructure in the context of digital transformation, including the evolution of systems, key trends (fintech, blockchain), and challenges (security, regulation). The study aims to identify industry prospects considering innovations such as CBDCs and AI. The research was conducted using theoretical foundations and empirical data, with methodological approaches including comparative analysis, critical review, and interdisciplinary integration. This article presents a comprehensive analysis of the dynamics of the development of payment infrastructure and services in the context of the global digital transformation of the financial sector. The paper examines the theoretical foundations of the functioning of payment systems, traces their evolution: from classic cash and bank transfers to revolutionary digital solutions. The author examines in detail the key drivers of change, including the explosive growth of fintech innovations (Open Banking, digital wallets, biometrics), the introduction of distributed ledgers (blockchain) and the ubiquity of mobile payments. A special focus is placed on the current challenges of the industry: ensuring cybersecurity and user data protection, compliance with complex regulatory requirements (PSD2, AML/KYC) and risk management. The article also assesses the prospects for further development, such as increased convergence of services, the growth of contactless and instant payments, as well as the potential impact of central bank digital currencies (CBDCs). The material is intended for specialists in the field of financial technologies, economists, analysts and anyone who is interested in current trends in the digitalization of payment services and their impact on the economy and society.