INTERNATIONALIZATION OF DIGITAL PAYMENT SYSTEMS: CHALLENGES AND STRATEGIES FOR MANAGING TAXATION AND BANKING INFORMATION

Abstract

This article explores the internationalization of digital payment systems, focusing on the challenges and strategies in navigating diverse tax regulations and integrating with varied banking infrastructures worldwide. It examines the current state of the global digital payments landscape, highlighting key growth trends and technologies shaping the industry. The article discusses the complexities of tax regulation compliance across different jurisdictions and outlines strategies for addressing these challenges. It also delves into the hurdles of integrating with diverse banking systems and proposes solutions for seamless integration. The article illustrates effective approaches to global expansion through case studies of successful internationalization efforts by major players like PayPal and Stripe. Finally, it looks at future trends and technologies, including AI, advanced data analytics, IoT payments, and Central Bank Digital Currencies, that are poised to revolutionize the international digital payments landscape.