Multidisciplinary Journal of Science and Technology

Problems and prospects of the development of cashless payments: the role of the banking system and the state

Otabek Abdullayevich Eshqovov.

Student of Termiz State University

Keywords: Digital Transactions, Fraud, Cashless Payment Systems, Digital Divide, Cryptocurrencies, Infrastructure & Technology, Debit Cards, Credit Cards, Prohibitory Laws.

Abstract

Cashless payments have become increasingly popular in recent years, with many countries adopting digital payment systems to improve efficiency and reduce the need for physical cash. However, the transition to cashless payments also creates a number of problems and disadvantages that need to be addressed. In this article, we study the problems and prospects of the development of cashless payments, focusing on the role of the banking system and the state.

References

"Digital Payment Systems: Opportunities and Challenges" by the International Monetary Fund (IMF)

"Payment Systems and Financial Stability" by the Bank for International Settlements (BIS)

"The Future of Payments: A Look at the Next Generation of Payment Systems" by the World Economic Forum (WEF).

“Global Cashless Payments Market Size, Share and Trends Analysis Report By Type (Card-Based, Digital Wallets, Mobile Payments), By Application (Retail, Transportation, Hospitality) , forecasts by region and segments, 2020-2027.

"Contactless Payment Market Size, Share and Trends Analysis Report 2020-2027, by Type (NFC, BLE, QR Code), by Application (Retail, Transportation, Hospitality), by Region and by Segment Forecasts."

"Cryptocurrency Market Size, Share and Trends Analysis Report by Type (Bitcoin, Ethereum, Litecoin), by Application (Payment, Investment, Mining), Region and Segment Forecasts, 2020 - 2027 years."