DEVELOPMENT OF PAYMENT INFRASTRUCTURE AS THE MAIN LEVER FOR THE DIGITALIZATION OF BANKING SERVICES AND THE SCALING OF NEOBANKS

Abstract

The relevance of this study is driven by the unprecedented digital transformation of the global and national financial sectors, where neobanks have emerged as key catalysts for changing traditional paradigms of financial mediation. In recent years, the rapid penetration of digital banking technologies has fundamentally altered consumer expectations, shifting the focus from physical branch networks to cloud-native mobile platforms. However, despite the exponential growth in the user base of digital-only financial institutions, their sustainable development and long-term profitability face significant structural constraints. One of the most critical challenges is the dependency of fully digital business models on the physical and technological maturity of the payment acceptance infrastructure. The discussed issues in this paper center on the premise that the technological superiority of neobanking applications cannot be fully realized without a ubiquitous, reliable, and accessible acquiring network, such as POS terminals, SoftPOS solutions, and standardized QR-code payment systems. Without seamless payment integration into the daily economic activities of micro and small businesses, digital banks experience an interruption in the transaction chain, forcing clients to resort to cash withdrawals, which undermines the core economic rationale of neobanking. Furthermore, the paper highlights the necessity of exploring the elasticity of demand for cashless payments in relation to the density of the acquiring infrastructure. By critically evaluating the macroeconomic and microeconomic drivers of digital financial inclusion, the research aims to provide a comprehensive understanding of the so-called infrastructure bottleneck. The discussion extends to the strategic imperatives required for financial institutions to transition from niche payment providers to primary, top-of-wallet accounts. Additionally, the study emphasizes the critical role of regulatory frameworks, particularly the implementation of Open Banking, the standardization of application programming interfaces, and the modernization of digital identification systems. Exploring these interconnected dimensions is essential for formulating effective corporate strategies and coherent state policies that support the resilient expansion of the cashless economy amid ongoing macroeconomic volatility and heightened security risks.