Digital payment systems: state and perspectives

Abstract

This chapter strives to provide a comprehensive overview of current digital payment systems and point out their key opportunities, benefits, and constraints. We will discuss the following methods and channels for digital payment: credit cards, online credits, vouchers, different types of P2P, recurring payments, social pay, micro payments, and others. We will address the importance and role of mobile technologies and services in mobile commerce. Opportunities and challenges in harnessing modern technologies such as blockchain and artificial intelligence in the context of digital payments will be discussed. For each of the listed concepts, we will discuss pros and cons as well as applications and challenges. Further, we will explore the role of those concepts in real e-commerce ecosystems. In addition, we will discuss changes in digital payment systems caused by global pandemic and perspectives in post Covid-19 era.