The World Bank Group's Payment Systems & Financial Inclusion Initiatives

Posted on Apr 22, 2019 by Harish Natarajan, Lead Financial Sector Specialist, World Bank Group and Holti Banka, Financial Sector Specialist, World Bank Group

The development and implementation of safe and efficient national payments systems is an integral component of the World Bank Group’s (WBG) work to reduce poverty and boost shared prosperity. The National Payments System (NPS) is the underlying foundation of a country’s financial system. It comprises all institutions, information, technologies, systems, payment instruments, rules, and standards which enable exchange of monetary value.

The quality of a country’s NPS supports financial stability and determines the efficiency of economic activity and intermediation. The efficient and smooth functioning of the payment, remittances and securities settlement systems facilitates the discharge of financial obligations and the safe transfer of funds across distances and institutions, supports stability of the financial system, and enables financial inclusion. While payment services are a financial service on their own, they have a .... Read more in the CBPN Members’ Library with your annual subscription

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