Management and marketing

3 Prospects for the development of e-commerce in the field of payment
services
3.1 Problems and prospects of functioning of electronic money in
market transactions of Uzbekistan companies

Legal problems.

The basic law, which was adopted in connection with the emergence of such a phenomenon as electronic money in the Russian economy – 161-FZ "On the national payment system" - still contradicts other sectoral laws in places (103-FZ "On accepting payments from Individuals by Payment Agents", 395-1-FZ "On Banks and banking activities", 54- FZ "on the use of cash registers", 115-FZ "on countering the legalization (laundering) of proceeds from crime and
the financing of terrorism").
There is simply no legislation that would regulate e-commerce in general, there are only projects and legislative acts that are indirectly related to our issue. For example, the draft law "On the sovereign Internet", adopted in the first reading by the State Duma of the Russian Federation in February 2019; 63-FZ "On Electronic Signature" 2011. (with amendments and additions, effective from 31.12.2017).
The current legislation of the Russian Federation does not take into account all the realities of the payment market. It is imperfect and therefore unsuitable for literal execution. The main problem of the legal regulation of EMF and EPS is the lack of clear rules and restrictions. The functioning of these systems is subject only to the general provisions of the legislation. It is possible to determine the true legal content of most concepts only if they are distinguished from related concepts and based on the emerging rights and obligations of the parties. For example, the object used in EPS is called and electronic money, and electronic bills, and digital
cash, and certificates, and tickets, etc. because of this, concepts of different legal nature are mixed and this makes it difficult to classify relations, as well as the choice of legal norms applied to EPS . The rights and obligations of credit institutions and bank payment agents/subagents providing ESPs are still being clarified by the regulator.
Foreign-political problems.
Uzbekistan has been trying to create a national payment system for a long time. The first domestic system appeared in 1993 – STB Card. Then the Union Card, the "Golden Crown" and the "Savings Card" came into circulation. But, despite all the efforts, foreign money was issued in banks and used in settlements Visa and MasterCard. Later, in 2000, the government considered a project to create a single national card based on the "Savings Card", but due to the problems that arose, the authorities decided that cooperation with Visa and MasterCard was more profitable.
Sanctions from the West have greatly affected the development of payment
systems in Russia, Visa and MasterCard have stopped servicing some banks in the country.
Thanks to this, the idea of creating a unified payment system was revived and supported by the statement of President Vladimir Vladimirovich Putin on the need to create such a system and the relevant law. The national payment system of Mir cards has been developed and implemented. It is designed to ensure the financial security of the country and the independence of banking services in Russia from external political and economic factors.
The first national payment card has been created on the basis of the Mir payment system. This is the Mir map – a modern and innovative development
of domestic specialists. It complies with all Russian and international security standards that are accepted in the payment card industry.
Such a protectionist policy applies only to non-cash payments, as for electronic money operators, the state has not yet come to issue a single national
electronic currency . EMF operators are experiencing difficulties associated with foreign policy factors, such as trade wars and sanctions.
Partner banks, which had cross-border contracts in their arsenal and carried out information technology cooperation with foreign suppliers of goods and services, were forced to significantly limit such ties, or completely stop.
The withdrawal of electronic money to the accounts of individuals, transfers to
foreign companies are so limited that they have not actually realized even half of the previously predicted development potential.
Technical problems (first of all, security).
The continuous development of network technologies in the absence of a constant
security analysis leads to the fact that over time the security of the network decreases. New unaccounted threats and vulnerabilities of the system appear. There is a concept — adaptive network security. It allows you to provide protection in real time, adapting to constant changes in the information infrastructure . It consists of three main elements – security analysis technology, attack detection technology , and risk management technology. Security analysis technologies are an effective method for analyzing and implementing network security policy. Security analysis systems search for vulnerabilities, but increasing the number of checks and examining all its levels.
Attack detection is an assessment of suspicious actions that occur in the corporate network. Attack detection is implemented by analyzing
logs of the operating system and application software and network traffic in real time. Attack detection components placed on nodes or network segments evaluate various actions. From the point of view of information security in electronic payment systems, there are the following vulnerabilities:
— forwarding of payment and other messages between banks, between a bank and an ATM/terminal, between a bank and a client;
— processing of information within the organization of the sender and recipient
of messages;
— clients' access to funds accumulated on accounts. One of the serious problems is the organization of cryptographic protection of confidential information.
The organization of electronic document management is also, on the one hand, a step towards new opportunities, on the other – a stumbling block in the absence of uniform standards and legislative framework.

Information problems.

There is still an urgent problem of information ignorance of citizens about the possibilities of using EPS.
Virtual money transfer operators are advised to inform customers about the possible suspension of receiving services, about unsuccessful attempts to gain access to them, about the possibility of managing limits on making payments and transfers via the Internet. These recommendations are aimed at increasing the level of public confidence in non-cash forms of funds and motivation for their active use. One of the tools for popularizing non–cash monetary transactions among the population is the possibility of insuring the payer's risks .
Economic problems.
The general economic situation undoubtedly affects the development
of the e-commerce payment infrastructure: a high key rate100 The Central Bank, the increase in VAT from 18% to 20%, the requirements of Federal Law No. 54 on
the application of CCT, which also affected payment agents /bank payment subagents, excessive supervision (the problem is recognized at the state level). Fulfilling the norms of imperfect legislation and sometimes purely bureaucratic requirements of the regulator,credit institutions walk "through a minefield", constantly risking their rating, liquidity, license. Thus, the requirements for banks and NGOs to control subagents actually kills the possibility of entering
cash into electronic money systems through payment terminals. Payments from bank cards have gained a huge advantage, but Russian citizens are not yet ready to part with cash, with the ability to make micropayments anonymously, through terminals.