THE IMPACT OF THE TECHNOLOGICAL CHANGES ON THE PAYMENT METHOD

Abstract

The change of payment habits and culture in the Macedonian economy began as a result of the
technological changes imposed by the process of digitalization on a global level. Digital payment methods have
enabled easier and faster access to a larger number of products and services and thus contributed to faster growth of
non-cash payments. More and more citizens and companies make their payments by applying credit transfers and
payment cards. Electronic credit transfers are growing significantly compared to paper credit transfers. Payment
cards are becoming more and more present in everyday transactions. Also, new contactless technologies applied to
payment by cards are increasingly used. Also, on the development of a modern market for payment services in
accordance with the needs of citizens and companies for a large number of payment instruments and digital payment
methods, a great impact has the legal framework i.e. security and efficiency of the payment infrastructure. In our
economy, the NBRM has a key role for the safe and efficient execution of payments.
This paper analyzes the trend and movements of the use of the payment cards and electronic credit transfers
compared to paper credit transfers, in response to the new era of technological change. Also, has been made a
comparative analysis of their movement in recent years, but also with certain countries