Фінтех-інновації на платіжному ринку України в умовах інтеграції в європейський цифровий простір

English

Fintech innovations in the payment market of Ukraine in the context of integration into the European digital space

Abstract. Introduction. The relevance of the study is due to the fact that under the current conditions of globalization and European integration, Ukraine is actively adapting its financial system to European standards. This process is accompanied by emerging challenges in the field of payment services and digital technologies. Innovative payment systems, which are actively being implemented in the country, have become an important factor of economic stability, particularly by improving the accessibility and security of financial services for both individuals and businesses. Objective. The purpose of this article is to analyze the current fintech innovations in Ukraine's payment market in the context of integration into the European digital space and to outline the prospects for its further development. Materials and Methods. The materials for the study include:1) the regulatory and legal framework governing financial technologies and payment services in Ukraine; 2) the works of domestic and foreign scholars who explore financial innovations, the development of fintech ecosystems, and the application of digital technologies in payment systems. The following scientific methods were applied in the course of the research: theoretical generalization and classification (to characterize key fintech innovations and their impact on payment systems); comparative analysis (to study the influence of European standards on Ukrainian financial technologies); synthesis and systems analysis (to outline the parameters of a model for adapting financial technologies to EU requirements). Results. It is substantiated that the main barriers to the successful adaptation of Ukrainian fintech solutions include an underdeveloped regulatory framework, the absence of a unified standard for payment technology security, and insufficient infrastructure. It is emphasized that the growing use of contactless and mobile payment technologies contributes to improved security and transaction speed. Priorities for expanding the implementation of fintech innovations in Ukraine’s payment market within the context of European digital integration have been identified. Based on the analysis of selected trends in the development of payment services, their influence on the efficiency and security of payment systems in Ukraine and globally has been assessed. The key obstacles and opportunities for aligning Ukrainian fintech solutions with EU standards have been outlined. The need to update the legal framework and align it with European standards, as well as the need to set implementation benchmarks for financial technologies considering the realities of war and post-war recovery, has been substantiated. Perspectives. The prospects of the research are focused on the further improvement of the legal framework, development of digital payment infrastructure, and integration of Ukrainian payment technologies with international payment systems. Further elaboration of specific measures within the proposed conceptual framework sets the direction for future research, contributing to the creation of a competitive and efficient payment market that meets modern requirements and promotes the country's economic growth.

Keywords: fintech; financial innovations; payment market; digital payments; integration; EU