FORMATION OF A CASHLESS PAYMENT SYSTEM USING DIGITAL TECHNOLOGIES

This article is devoted to the historical foundations and theoretical and methodological aspects of the functioning of payment systems using bank payment cards and two-dimensional barcode symbols (QR codes), as well as the study of world experience in the introduction of non-cash payments. An analysis of the current state of the domestic bank card market was carried out and the effectiveness of measures previously taken by the Government and the National Bank of the Kyrgyz Republic was determined. The study identified the main problems in the organization of the payment system that impede the development of the market for banking payment instruments. Practical recommendations for solving them and a vision of prospects for improving the payment system for the formation of a non-cash payment system using digital technologies are offered. Measures have been outlined to increase the level of penetration of this payment system in the real economy, the number and volume of transactions using cards. The result of the ongoing changes was supposed to answer the question - what impact did these processes have on the structure of the money supply in the Kyrgyz Republic in 2019–2023, and how did this affect the rate of economic growth of the country.