The article analyzes the Russian and European experience of legal regulation of payment systems and payments made in their framework with the use of electronic means of payment, the possibility of implementation in the Russian legislation of the norms and institutions of the European Union. There are arguments in favor of the expansion of market participants operating with electronic means of payment as an alternative to traditional banking (implementation of the concept of «open banking»). It is proposed to qualify electronic money as an independent object of civil rights and to carry out their accounting in special accounts.