The Central Bank of the United Arab Emirates is actively pursuing digital innovation through the Financial Infrastructure Transformation (FIT) Programme. Among other key objectives, the FIT Programme focusses on driving financial inclusion, promoting…
The Legal Entity Identifier — as a unique global identifier — can solve the critical problem of insufficient transparency in counterparty identification in cross-border payments ecosystems. Why? Adding the LEI as a data attribute in payment messages allows…
The pace of evolution in instant payments, also known as real-time or fast payments, has been phenomenal, especially in emerging economies, and has acted as a catalyst to kickstart economic activities. Regulators and governments worldwide are striving…
Following the successful implementation of the first national retail payments strategy in 2022, new challenges illustrate the dynamic nature of the payments ecosystem paving the way for the adoption of a second edition, with renewed focus and a result…
As ISO 20022 adoption gains momentum, we believe that policymakers and the broader financial services community can leverage insights from the last 15 years of ISO 20022 implementations, while also drawing from card networks’ more than 40 years of experience…
The emerging consensus that consumer acceptance is a critical success factor in a CBDC deployment compels countries at all stages of CBDC development to align their designs closely with consumer needs and expectations. These insights can only be established…
Central Bank Payments News spoke to Binur Zhalenov, Chief Executive Officer of the National Payments Corporation of Kazakhstan, about the evolution and future of the Digital Tenge, its place within a broader digital revolution, and lessons Kazakhstan’s…
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…
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…
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…
