National Bank of Belgium: A Digital Euro for the Digital Era

The possible introduction of a digital euro, in the form of a central bank retail digital currency or CBDC, would be a major project for the euro area and the Eurosystem. It would significantly change the form in which central bank money is made available…

Implementation of the Digital Euro

The digital euro will enter a highly competitive, multifaceted, and heterogeneous payments landscape in the Eurozone. As with any other payment method, it needs to provide additional value for the variety of stakeholders to achieve the envisioned acceptance…

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…

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.

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…

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,…

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,…

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,…

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…

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…