THE DEVELOPMENT OF ELECTRONIC PAYMENT TECHNOLOGIES The first transfer money using telegraph lines of Western Union was implemented in 1871, and already in 1980 the company's revenues from remittances exceeded the proceeds from the sale of the telegraph service. <...> Nowadays it is a high time for speaking about electronic payment systems due to the fact that every second person in the world has a means of egress to the Internet and many of us have a wide range of gadgets for the constant interaction by the Internet. <...> The task of remote payment (money transfer over long distances) of the special discharge passed into everyday. <...> Electronic money is a storage and transfer system not only traditional currency but also nonstate private currency. <...> Turnover of electronic money can be carried out according to either the rules set by or agreed with the state-owned central banks or the rules of non-state payment systems. <...> In the most general terms the electronic payment system can be defined as a technology (if we talk about implementation – service), which is a set of methods, arrangements and technologies, allowing to make calculations between data transmission networks counterparties. <...> To prove it we can take into consideration the fact that people could only pay for purchases in developed and developing countries (most of them) in early 2000, but now absolutely anywhere in the world you can use your universal card to buy goods and pay for services. <...> It is more common and more across-the-board type in which holder’s money are on the bank or at least on the user card. <...> Holder can use it in order to make various payments in shops and restaurants quickly and easily, just putting their card on a special reader device. <...> Sometimes you have to enter a special pin-code which only the card holder and the bank . <...> Another type of electronic money is money-based networks, in other words money with online wallet. <...> The main difference between the electronic payment systems and processing centers is that not real money but virtual currency appear as the unit of account. <...> Of course when you pay with a card you will have to give your name but the payment by the electronic wallet gives you a chance to remain completely unknown. 2) Instantaneous <...>