DIGITAL PAYMENT SYSTEMS AND ECONOMIC SECURITY: A LAW AND ECONOMICS ANALYSIS

Abstract

Digital payment systems have become an important instrument for 
expanding access to financial services, reducing transaction costs, and 
enhancing economic efficiency. At the same time, however, they 
generate new challenges related to cybersecurity risks, data 
concentration, financial sovereignty, and the protection of human 
rights. This article examines digital payment systems through the 
methodological framework of Law and Economics, analyzing their 
institutional nature, their impact on economic security, and the 
necessity of appropriate legal regulation. The study finds that digital 
payment systems should be understood not merely as financial 
technologies but also as legal institutions that play a significant role in 
ensuring economic stability, data governance, and national security.