E-money: background and prospects of development in Russia

Abstract

The modern economy is characterized by a high level of electronic cash flows and a decrease in the share of non-cash payments. The article presents a definition of e-money and describes the prerequisites for the emergence of electronic cash payments, as well as reveals the differences between electronic money and other means of monetary settlements. The authors analyze the advantages and disadvantages of using electronic money and identify prospects for the development of electronic money in the Russian Federation.