The innovative FinTech platform INO-PAY was described in terms of construction, functionality, flexibility,
expandability, and security assurance framework. Current solutions of E-banking and E-pay systems are
presented to compare the marked requirements, needs of customers, and technical issues. User - customer receives
complete information about the transaction, including transaction parameters, transaction accompanying documents
(contract, invoice, protocols, receipts, etc.) in real-time, which has not been provided on any electronic payment
platforms. The created product ensures the convenience of financial settlements and allows you to track your financial
transactions by checking their content. The platform is based on the Request-to-Pay standard and provides an
opportunity for both parties to establish a dialogue, agree on more flexible payment terms, and allows the user to
pay without additional contact with the seller by phone/e-mail, to pay the bill in installments by mail, to request
an extension of the payment term or to reject the received payment request. Platform INO-PAY allows customers to
compare banks’ services and allows banks to initiate new markets in different geographical areas. Electronic platforms like INO-PAY allow customers access to financial services more efficiently than banks in some problematic areas of non-EU countries.