The introduction of electronic money is associated with economic and technological uncertainty about its future. It should be noted that the introduction of electronic money is primarily aimed at replacing payments with cash and checks. However, the introduction of e-money may also affect the intensity of use of credit and debit cards in retail payments. It is important to determine which factors have the greatest impact on the decisions of business entities on the use of electronic money.

Obviously, in the future, e-money will have to provide additional benefits to key economic players: consumers, retailers, banks and e-money issuers (money intermediaries). The benefits can be one-step and immediate. For example, electronic money will be more convenient or cheaper to use. The benefits can also be long-term and strategic. For example, retailers will use the introduction of e-money as part of their overall marketing strategy to introduce new payment technologies to stimulate sales, even if their use is not of significant financial importance.

In view of the above, the following factors can be identified that influence the decision of consumers:

- greater usability and lower handling costs;

- security and confidentiality of settlements.

Consumers expect electronic money not only to reduce their costs, but also to be convenient. However, new means of payment are unlikely to affect household expenditures. If more trade is done electronically, there will be less settlement using traditional means of payment, such as cash, cheques, credit and debit cards. In the case of settlements between businessmen the situation is somewhat different. If e-money is cheaper or easier to use than traditional forms of money, businessmen will be able to increase their working capital and total revenues.

All users of electronic money will face the same problem as users of traditional forms of money – the need to ensure security and confidentiality of payments. In the case of smart cards, the vast majority of financial institutions planning to issue cards are banks. Therefore, the smart cards or electronic account numbers of the client are backed by the assets of the banks belonging to such an association. But do the funds behind these cards have adequate protection for the savings and cheque accounts of the insured, for example, in the United States by the Federal Insurance Corporation? Apparently not, as such accounts are not subject to compulsory insurance in the United States.

The fraud that exists in the traditional payment system is likely to exist in the proposed systems of the future. The issue of ensuring the security and confidentiality of settlements with the use of electronic money can be effectively resolved through the development of special legislation and the development of unified standards for the implementation of secure settlements.

The following factors influence the decision of a point of sale regarding the use of electronic payment methods:

- increased sales volumes;

- reducing costs;

- beneficial terms of contracts.

Shops expect that there are a significant number of consumers who cannot make a purchase just because it does not work with a particular payment system. If a sufficiently large number of consumers use a particular payment system, competition may encourage the point of sale to make the necessary investments to install the payment system equipment. For example, the threat of losing potential consumers who do not use cash in their settlements has led many small goods vending machine operators to install special devices that accept plastic cards.38 A similar situation is also observed in the electronic economy, where, along with the use of plastic cards as a means of payment, various types of electronic money are increasingly used. The main thing is to ensure that the increased profit from additional sales covers the increased costs arising from the introduction of new payment methods.

Additional sales are not the only advantage of electronic money, they can also reduce costs. For example, cash management is an expensive, slow and unsafe process. Systems that reduce the use of cash can reduce handling costs, although they are likely to increase capital costs. Whether or not the new forms of payment will reduce the total costs in the short term will determine the willingness of retailers to use them.

The introduction of electronic money leads to additional obligations, risks and costs. For example, sales made with the use of electronic money may be challenged only after the transaction has been made. Therefore, in order to work with electronic money, retailers and issuers will have to conclude new contracts, in which the rights, obligations and risks of retailers and issuers of electronic money will be specified. Acceptance of the new settlement system by the outlet will depend on the terms of such contracts (profitability and risks). The specific terms of the contract are important factors in determining the success of new payment methods.

The following factors can be singled out that influence the decision of e-money issuers on the issue of e-money:

- electronic senorage;

- low transaction costs;

- gaining a share in the financial market.

As a result of the issue of electronic money, issuers receive emission income. The amount of this income is directly related to the amount of electronic money issued. Therefore, issuers of electronic money are interested in increasing the volume of issue.

Since the costs of cash transactions are very low compared to the cost of purchase, e-money issuers will have to significantly reduce the cost of using e-money to a large extent. Today, the average cost of an e-money transaction in the United States is about 15 cents, but even such a low cost can be quite a high percentage, for example, of the cost of an e-services transaction for $1.

Issuers of electronic money also seek to capture the largest possible share of the market for transactions that are currently carried out in cash or deposit money.

Gaining a share of the financial market may allow e-money issuers to provide other financial services by competing for cash resources with other financial institutions.

The first e-money systems were largely unclaimed. First of all, they weren't comfortable. Consumers needed to have special software and use complex transaction protocols. Besides, the first systems of electronic money often did not provide anonymity of transactions. Almost all first-generation systems operated within the framework of closed circulation, which limited the universality of their use in advance.

Currently, second-generation e-money payment systems are being actively developed. They are based on the increased requirements to the convenience of these systems for end users, to their anonymity and universality. Many companies make extensive use of incentive programs when introducing e-money. In addition, most modern e-money systems support micro-payments. Some of them have the property of offline compatibility, others – the exchangeability and portability. The most successful system of the new generation of electronic money in the broad sense is PayPal.

In general, e-money is only at the initial stage of its development. This stage is characterized by significant technical complexity and high cost of payment systems based on electronic money, liberalization of regulation of credit institutions' activities and revival of competition in the monetary sphere. Modern development of electronic money affects not only the theoretical problems of money, but also the issues of banking, aspects of monetary policy. The following conditions must be met for the widespread introduction of e-money into the monetary circulation of developed countries:

- ensure that the cost of transactions using electronic money is extremely low;

- develop a clear legal framework regulating the status of e-money issuers and the procedure for regulating relations between e-money participants;

- create reliable and affordable encryption algorithms that guarantee complete confidentiality and security of electronic payments;

- to develop a wide infrastructure for servicing payers who use electronic money. Fulfillment of all the above conditions will allow electronic money to take one of the most important places in the monetary system of the XXI century.

There are still a number of contentious issues regarding the security of electronic payment systems, tariff rate issues and how to use electronic payment systems as a business development tool;

- compared to European countries, Kazakhstan has a low level of use of payment cards. One of the main problems hindering the development of payment cards in Kazakhstan is the lack of infrastructure in the regions;

- security of card calculation. The payment card should be protected and hidden from strangers' eyes. It is also important to inform payment card users about the dangers that await them during use;

- international payment systems exist and are widely used in the modern world.

International payment systems are convenient because their services can be used almost anywhere in the world where there is Internet. National systems are secure from a government perspective, plus they can provide additional services to their users within the country. The main disadvantage of both systems is the need for infrastructure. Cash has significant advantages in this regard.

If we use an EDS using a credit or debit card or any other EDS, the user should use and be aware of the rules for using such systems. Never give the password to anyone, including payment system employees. Make sure that the connection is actually secure (the lock icon should be visible in the lower right corner of the browser), that the connection is established with the address of the payment system or the Internet bank. Password information may not be stored on any media, including a computer. If you suspect that someone has gained access to your personal account, you must change your password or block your account/account. After you have finished working with the Ethernet network, you should always press the «exit» button so that no one else can use this account.

It is necessary to check your computer for viruses, installation and activation of antivirus programs does not take much time, besides it is necessary for PC safety as action of viruses can be directed on transfer to the third parties of the information on the password. Use the software from proven and reliable sources.

Mobile payments have only just begun their offensive on the Kazakhstani market. Judging by the experience of foreign countries, mobile electronic payment systems have a great future. But so far, it's all in the beginning. Their main plus is the same as cellular communication – mobility. The service packages offered by the different MENRs are slightly different. The main thing that unites all such systems without exception – all their services are available at any time, in any place. Thus, users of Ethernet switches have a very important advantage over those who have not connected to such a service: savings in time, and sometimes very significant. The traditional set of services of mobile electronic payment systems includes the following:

- monitoring of the account status;

- input/output of funds;

- payment for goods and services by mobile phone;

- transfer of funds from account to account.

«Mobile Wallet is an independent mobile electronic payment system competing with both mobile electronic payment systems and electronic systems operating in the Internet. Combining the most attractive features, this system can be interesting both for experienced Internet users and various models of cellular phones, and for beginners.

Thus, as soon as we begin to consider «electronic» money as one of the types of money that people give some meaning to, because it has a specific purpose, in this context, the situation with the use of bank cards, when the bulk of the money is withdrawn from ATMs, ceases to be problematic. This is not because the consumer is insufficiently informed about how to use this financial instrument, its functional features, has no experience and sufficient skills, but because the use of this financial instrument does not correspond to its monetary practices.