Electronic Money System and the Need to Use This System in the Republic of Uzbekistan

According to the economic dictionary, non-cash payments are understood as a form of money circulation, in which the storage of funds and their movement is carried out without the participation of cash, by entering money into a bank ac-count and transferring it from the payer's account to the recipient's account. This article is devoted to the relevance of the electronic money system and its use in the financial sector of the economy. With the increasing relevance of the electronic money system in the form of cashless payment, the work carried out on the use of this system and its regulation in the banking sector of the Republic of Uzbekistan, and the formed mechanisms have been studied. Also, in the article, the issues of ensuring information security in the use of electronic money system were considered, and in order to create favorable conditions for the development of electronic commerce in our country, expanding the market of payment services, the relevance of using the electronic money system was proven.