INTRODUCTION OF THE E-HRYVNIA AS AN INNOVATIVE PAYMENT INSTRUMENT

In the last three decades, Information Technology has evolved so much that it has formed its own personal world. And this world could not do without its own means of payment — electronic money and an electronic economy appeared. In fact, they are not money, and therefore represent an alternative, a way of exchange without direct use of credit money. Convenience, cheapness and a number of other advantages of their use have firmly established them in the market. Since in the modern world, the recovery of the economy of any highly developed state is impossible without an effective and modern system of money circulation, so every year electronic money occupies a large share in the total money circulation, thereby displacing cash. In the age of Information Technology, the role of the electronic money circulation system is considerable. Due to the difficult geopolitical situation in the world, it is necessary to develop its own payment system. The payment system is an integral component of the financial and economic integrity of any state, and, in particular, the domestic payment system is designed to ensure the turnover of funds, manage the single currency supply, regulate the hryvnia exchange rate and underestimate the price of settlement services. In modern conditions, it should be closely interrelated with all elements of economic activity, exist in a strategically important way that carries out reliable and clear implementation of financial transactions. The payment system must have certain advantages, namely: accessibility, ease of use, efficiency, prospects for opening an electronic account, security and reliability. So, the role of the payment system in a market economy is defined as important and relevant in terms of its function, namely, ensuring an unpretentious and prompt transfer of funds to the need for stability of economic turnover and economic growth of our state. This article describes certain modern features of the development of a highly efficient system of money circulation and the use of modern payment mechanisms, where one of the most promising elements in this area is electronic money, highlights the main problematic issues of a theoretical and practical nature. This determines the urgency of the problem of development and improvement of the payment system in Ukraine.