Regulatory Collaboration on Innovation in South Africa: The Whole is Greater Than the Sum of its Parts

During 2016, the SARB became increasingly involved in working groups with international standard-setting bodies focused on fintech innovation, which prompted reflection on the potential implications for South Africa, the region and the continent. The…

PHB and UNCDF: Building Inclusive Digital Transformation Strategies in the Context of COVID-19

The online course on “Planning and building inclusive digital transformation strategies in the context of COVID-19 to meet the SDGs and Agenda 2063” was recently offered on the e-learning platform of the African Institute for Economic Development and…

The Pay Off: How Changing The Way We Pay Changes Everything

When we set out to write The Pay Off, How Changing the Way We Pay Changes Everything, we aimed to write a textbook – in part because much of the money storming the payments industry seemed ill informed about how money actually ‘moves.’ But before long…

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…

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…

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…

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…

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.

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…

Will CBDCs Disrupt the Financial Sector?

Central bankers worldwide fear that a CBDC introduction could lead to destabilizing effects in the financial sector. In this article, we discuss why this so-called disintermediation is indeed a threat and provide a simulation to quantify these effects…