In Africa, the development of Instant and Inclusive Payment Systems (IIPS) and the use of open-source software like Mojaloop offer hopes of speeding up the onboarding of more than 350 million financially excluded adults on the continent.
I see five macrotrends, driven by a combination of consumer preference, technology, and regulation, that will affect the future of payments and define how payments will look in the next couple of years.
South Africa is currently transitioning its regulatory landscape to support increased access to the National Payment System (NPS) and to adopt activity-based licensing and regulation for payment service providers. The Payments Association of South Africa…
A closer look at how cross-border payment solutions are meeting end user needs can be invaluable in guiding the public and private sectors’ efforts to make meaningful improvements.
Updated! The global payments ecosystem is at a critical juncture, with interoperability, interlinking, accessibility, and collaboration top of mind for 2023. We’re pleased to present the second annual Central Bank Payments News supplement, a collection…
On 7 February, the Bank of England and HM Treasury announced the intention to consult on the introduction of a digital pound. My name is Graeme Donald, I'm retired now and spend my time with my family, on the golf course and travelling. Prior to that…
The Open Finance Association (OFA) believes that a well-functioning, high performing open banking ecosystem, built on instant payments, in accordance with the Instant Payments proposal currently going through the EU regulatory process, can help deliver…
Technology is revolutionising the provision of financial services. Central banks and other public authorities are identifying the opportunities this opens up, and one response has been to set up innovation functions. The Bank for International Settlements…
Currently, many CBDC technology projects seem to duplicate past work or conduct work without clear goals, even as key technology questions remain unanswered. How can central banks investigate CBDC and communicate their work more effectively to avoid risks…
By leveraging emerging technologies, and availing infrastructure to seamlessly integrate with those technologies both at a bi-currency level (country-to-country) and at a multi-CBDC level or consortium of multiple countries, a foundation for a truly global…
