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,…

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…

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…