The article is aimed at exploring the prospects for development of factoring services in the national financial services market, taking into account the specific conditions of the Ukrainian economy and the formation of measures for the successful development of factoring service. Factoring is a universal method of refinancing the receivables of the enterprise-supplier. In researching the essence of factoring, it was noted that this financial service has something in common with a bank credit. In the course of a comparative analysis of factoring and bank crediting it was identified that the main advantages of factoring were the lack of collateral and an additional list of services that ensured that the supplier achieves competitive benefits, and a financial institution or a specialized factoring company – an increase in the customer base by acquiring from enterprises-suppliers (sellers) the right to claim the receivables of buyers. An analysis of the factoring services market showed an increase in the popularity of factoring services, which is due to the increase in the contracts of factoring by financial and factoring companies for five years (2014–2018). However, there are still problems that constrain the demand for factoring service from domestic suppliers and slow down the development of factoring companies per se. To overcome these problems, the most important directions are the development of legislation acts that will take into account all the legal aspects of the participants in factoring operation, and the formation of an innovative list of services by factoring companies, which will improve the process of management of the enterprises’ receivables.