Legal Regime of Cross-border Payment Operations with Electronic Money

This graduate paper is aimed at comprehensive analysis of the use of electronic money, the consideration of aspects of the use of information systems in economics and finance, the study of the different legal regimes of payment transactions with the use of electronic money, study of cross-border payment operations in PayPal payment system. The main objectives of the paper are: study of the economic and legal nature of the electronic money; correlation of electronic money with cash money and bank money ; description of different types of cross-border payment transactions with electronic money; comparison of cross-border payment transactions with electronic money in different countries, study of PayPal payment system. The paper consists of an introduction, three chapters, nine paragraphs, a conclusion and a bibliography. Chapter I elaborates the concept of electronic money, economic and legal nature of electronic money, correlation of electronic money with cash money and bank money. Chapter II contains analysis of cross-border payment transactions with electronic money, the infrastructure necessary for the implementation of cross-border payment transactions, gives a definition and characterization of payment systems and describes basics of the legal regulation of cross-border payment transactions with electronic money in different countries. Chapter III is devoted to the study of conducting cross-border transactions using electronic money through the PayPal payment system.