The Financial Law issue on the development of the complex Financial and Legal Regulation of Payment Systems Concept in Ukraine has been resolved in the thesis.
Theoretical and methodological principles of forming the concept of «payment system» as a financial and legal category are systematically covered, in particular the methodology of financial and legal analysis of doctrinal approaches to understanding the payment system is analyzed, its genesis and development are studied, the main qualifying features of the payment system are determined, the correlation of the concept of «payment system» with related legal categories is revealed, the peculiarities of the payment system as a financial institution are determined, the principles and functions of payment systems are substantiated. It is proved that the functioning of payment systems in the circulation of money is the object of financial and legal regulation.
The financial and legal boundaries of payment systems in Ukraine are revealed, in particular the financial and legal definition of the national payment system is clarified, as well as the types of payment systems are characterized on the basis of analysis of Ukrainian legislation, foreign countries and international standards, the place and role of payment systems in the execution of budgets are established.
The financial and legal regulation of the use of payment instruments is analyzed, the main stages of evolution of their use are highlighted, the current electronic payment instruments under the legislation of Ukraine are characterized, the influence of innovative financial technologies on the activity of payment systems in legal aspects is revealed. The financial and legal bases of the procedure of money transfer are revealed and its peculiarities are determined.
The issues of realization of public financial interests in the payment space of Ukraine in the conditions of globalization and European integration processes are covered, in particular, the state supervision (oversight) of payment systems for detection, prevention of risks and application of legal measures of influence is detailed, the place of ensuring payment security as a fundamental legal principle of payment systems protection is proved, the protection of the rights of users of payment systems according to the standards of the European Union is determined and the practice of their implementation in Ukraine is analyzed.
Based on the research conducted the range of scientifically proven conclusions for the further development of the Financial Law Science, as well as recommendations on enhancement of the legislation of Ukraine in the sphere of payment systems and funds transfer were developed.
The necessity to adopt the new Law of Ukraine «On Payment Services and Payment Systems» and introduction of corresponding amendments to the Laws of Ukraine «On Financial Services and State Regulation of Financial Services Markets», «National Bank of Ukraine», «On Banks and Banking», «On Currency and Currency Transactions», as well as bringing a number of other laws and regulations into compliance with this special Law. This will significantly improve the legal regulation of payment systems, the procedure for making payments and eliminate some of the factors that contribute to the dispute between legal entities related to the execution of payment transactions.
Key words: payment system, payment, funds transfer, financial and legal regulation, payment instrument, electronic mean of payment, payment services, payment transactions, payment services users, oversight.
