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Payments
Uzbekistan: Ensuring Stability of the Payment System
Over the last decade, the Central Bank of Uzbekistan (CBU) has significantly modernized its payment systems and services to meet the preferences of businesses and consumers in the digital era. As in many jurisdictions across the globe, Uzbekistan’s digital transformation has been accelerated by the ...
Payments
Instant Payments for the Maldives: The Maldives Payment System Development Project
To capitalize on the technological developments in the global payments arena and the country’s strong telecommunication infrastructure, the MMA identified the need for a sound and inclusive, digitally enhanced network that will address the obstacles in developing and introducing digital financial se...
Payments
India: Recent Developments in Payment and Settlement Systems
The Indian payments industry has witnessed remarkable growth, innovation and regulatory support over the last few years. Consequent to the demonetisation of high-value currency notes of ₹500 and ₹1000 in November 2016, the evolution of the digital payments ecosystem has been particularly noteworthy ...
Payments
CBDCs and Experimental Exploration
Like any other disruptive innovation, when a newly emerging phenomenon is addressed, the recommended approach is an experimental exploration. Central banks worldwide are now engaging in this process, as experts have yet to determine the specific steps required to successfully establish a CBDC.
Payments
Third Solomon Islands National Financial Inclusion Strategy Launch
The Central Bank of Solomon Islands (CBSI) recently launched the National Financial Inclusion Strategy 3, 2021-2025 (NFIS3), which provides the third 5-year roadmap for financial inclusion in the Solomon Islands.
Payments
Visa - Pyramids, Partnerships, and Choice: In Praise of an Open Payments Ecosystem
Visa Economic Empowerment Institute (VEEI) research found that small businesses which were digitally enabled and connected to global and regional marketplaces fared better during the pandemic than firms that were not; these digitally enabled and connected firms were also more optimistic for the futu...
IN THIS ISSUE: July 2021
- Central Bank of Uzbekistan Deputy Chairman Ilkhomjon Abdugarafov shares an in-depth account of the modernisation of Uzbekistan’s payment systems and services over the last decade
- Maldives Monetary Authority Governor Ali Hashim provides a detailed look at the transformative Instant Payments System, coming soon as part of the Maldives Payment System Development Project
- Former Reserve Bank of India Assistant General Manager Govind K. Gurnani expertly outlines several recent initiatives undertaken by the Reserve Bank to produce safe, secure, efficient, and accessible payments
- Industry Profile: MK Qaimari of ProgressSoft Corporation examines the critical steps central banks must take when starting to explore CBDC development and issuance
- Plus, we feature dozens of news briefs on the most important payments news of the past month, the key reports and speeches, and much more
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