International experience in the development and establishment of payment systems

This article examines the major payment systems of countries such as the United States and the People's Republic of China, and it analyzes the formation of the unified payment and settlement system of the European Union, which is highly significant for the establishment and adequate functioning of the national payment system of the Kyrgyz Republic. The largest payment systems in the world are concentrated in the United States, evolving under the influence of specific institutional factors. The payment systems developed in the EU are intended to serve as key components for the establishment, operation, and development of a unified payment space within the Eurozone. Additionally, local payment platforms also operate within European countries. Meanwhile, China's payment system is experiencing rapid development, aimed at achieving fundamental objectives such as ensuring payment and settlement sovereignty, implementing innovative technologies, and expanding its influence in other countries.