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Cross-Border Payments
Asian Development Bank: Project Tridecagon — Connecting Payment and Settlement Systems of 13 Asian Countries with DLT/Blockchain
In June this year, the Asian Development Bank (ADB) published the report Connecting Market Infrastructures in ASEAN+3: The Project Tridecagon Proof of Concept. The report explained the result of the proof of concept (POC), which aimed to connect key market infrastructures of the central banks’ real-...
CBDC
Driving Retail CBDC Adoption Through Lean Product Development
The Lean Product Development (LPD) literature offers strategies to guide user-centered design and drive adoption. Prominent LPD concepts are discussed here in the context of retail CBDC development.
Financial Inclusion
Towards Digitalising Payment Systems for Financial Inclusion in South Africa
South Africa is considered by many to be a dual economy where a large percentage of the population live in poor conditions in rural areas, and another significantly large percentage are wealthy and live in urban areas. Many of the people that live in the rural areas in South Africa are often unbanke...
Payments
In Conversation with Igor Velickovski, Manager, Payment Systems Department, National Bank of the Republic of North Macedonia
Our tour of the Western Balkans continues this month as we catch up with the National Bank of the Republic of North Macedonia’s Igor Velickovski, who discusses the transformative role of a recently enacted law on payments, North Macedonia’s SEPA ambitions, financial inclusion, the importance of cros...
CBDC
Crunchfish: Enabling Offline Payments in an Online World — Practical Guides to Offline Payment
Despite all the recent attention on the topic of offline payments, there remains an unclear understanding in the market around the practical design choices and trade-offs for offline real-time payments and CBDCs. Crunchfish, a pioneer for offline payments, have been sponsoring a series of white pape...
Instant Payments
Central Bank of Paraguay: Instant Payments in Paraguay
On May 23, 2022, the Central Bank of Paraguay (BCP) implemented the first phase of the Paraguayan Instant Payment System (SPI). This first phase consisted of implementing electronic fund transfers 24 hours a day, 7 days a week (24x7). For end customers, this implies the possibility of making bank tr...
Financial Inclusion
Madagascar: Financial Inclusion of Vulnerable Populations in Rural Areas Through Savings Groups
Various projects aimed at promoting the financial inclusion of vulnerable populations have developed savings group models. A savings group consists of 15 to 25 people who choose to form the group together and set aside money which they will then use for internal loans. Savings groups make it possibl...
Cross-Border Payments
RTGS.global: Three Years On, Is the G20 Roadmap for Cross-border Payments Set to Usher in a New Spirit of Public-Private Collaboration?
It will likely be private sector innovation that provides the key to unlocking faster, safer, more efficient, and less expensive cross-border payments. The private sector is well placed to advise on and illustrate the practicalities of how to improve the payments landscape from a commercial and oper...
Instant Payments
World Bank: Fast Payments and the Role of Central Banks
Fast payments are an important layer in digital public infrastructures — i.e., foundational systems back boning the provision of essential functions and services in a modern society — with the potential to drive economic growth and sustainable development.
IN THIS ISSUE: September 2023
- In this month’s feature article, Satoru Yamadera of the Asian Development Bank discusses the recently concluded Project Tridecagon, a proof of concept among the ASEAN+3 nations that explored linking RTGS systems and central securities depositories and the use of DLT for settling cross-border delivery-versus-payment (DVP) securities transactions.
- The success of a retail CBDC depends upon user adoption. ProgressSoft’s CBDC Advisor Jeffrey Stewart considers how a Lean Product Development approach to retail CBDC can inform a user-centered design and drive adoption.
- Mvelo Walaza examines the role that digital payment systems — including the newly launched PayShap instant payment solution — are playing in addressing South Africa’s financial inclusion objectives.
- Plus, we get a preview from CGAP of their new guide for supervisors of digital financial services (DFS) and DFS providers, and we round up the most important news and must-read reports of the past month … and much more!
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