A SURVEY OF ONLINE PAYMENT APPLICATIONS IN SOUTH EASTERN EUROPE AND IN NORTH AMERICA.

The future of the banking and financial world is tightly connected with ICT technologies, it works and relies on them. Currently there are more digital moneys circulating the world than traditional paper money. Most of the banking transactions today are done through the means of e-banking and m-banking. It is fair to assume that in the near future we will witness a global redefinition of the banking system, payment network, currencies and financial transactions as we know them today. New paradigms are emerging, ICT companies primarily based in the Silicon Valley with their inventions are threatening the traditional banking world. New digital currencies, e-banks and way of doing online transactions is a reality in the developed countries. We are experiencing the rise of the new digital currency which are governed by decentralized banking systems and are not under control of any government. In the new future, traditional banking will be something of our past. In this paper we have analysed the usage of various payment methods in North America (Canada and USA) and South East Europe (Macedonia, Albania, Kosovo, Serbia, Bosnia and Montenegro). We present an analysis of the usage of PayPal and Bitcoin in these regions. [ABSTRACT FROM AUTHOR]