In this series of articles, the Central Bank of Kenya explores recent developments in payments in Kenya, in line with the Bank’s vision of being A World Class Modern Central Bank. The country's payments ecosystem has undergone major developments and shifts…

The National Bank of Kazakhstan is building payment and digital financial infrastructure in the interests of everyone. These projects are aimed to stimulate competition, increase security and convenience, and, importantly, reduce the cost of financial…

Offline use may be a critical differentiating factor in the value proposition of a CBDC for end users, compared with its commercial bank card and electronic counterparts. Because consumers understandably do not appreciate the difference between commercial…

The Afghanistan Payments System (APS) was spearheading the modernization of retail banking in the country—and was poised to ride that momentum well into the future—when the Afghan government collapsed in August 2021. Ahmad Shakir Wali, Managing Director…

While the industry’s focus remains largely on modernising retail transactions, wholesale payment systems, which ultimately underpin and enable rapid retail transfers to take place, have not yet benefitted from meaningful transformation. This is especially…

AfricaNenda is a newly founded independent, African-led organisation created to accelerate the growth of instant and inclusive payment systems that will benefit all Africans, including the poorest and currently financially excluded. ‘Nenda’ means ‘go!’…

The central bank of the future must adapt to changing technologies to provide a financial system that works for all. Over the last three years, the University of Michigan’s Center on Finance, Law & Policy (CFLP) and the Bill and Melinda Gates Foundation…

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…

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…

Based on the experience and regulations of other countries, such as the United Kingdom, Singapore, and Brazil, Decree 1692 of 2020 sets a new architecture for the low value payment system in Colombia. It adds objectives and principles for the operation…