El Salvador: Perspective on the Development of the Financial System, With an Inclusive Approach and Use of New Technologies

The Covid-19 pandemic made evident the situation of exclusion to digital financial services that characterises El Salvador. The government faced this problem in its first year in office. Food delivery services increased, but only with the use of cash…

Global Payments Summit: Toward Digital Sovereignty of European Retail Payments

The latest edition of the Europe Global Payments Summit, hosted online by Currency Research on 30 March, featured a high-profile panel on retail payments in Europe, bringing together a public and a private sector initiative ”with aligning views” on how…

Bangladesh: Payment Systems Development

The financial landscape of Bangladesh has been rapidly transforming, driven by deeper forces: i) the adoption of financial technology led by the omnipresence of the internet and availability of power; ii) opportunities created by the demographic dividend…

EMTECH: The Coming Modernization of Central Banking

EMTECH is the fintech of Modern Central Banking, helping regulators leapfrog existing regulatory frameworks and systems, and to adopt an innovation mindset as well as an innovation toolset, says D.R. Maurice, Chief Risk & Policy Officer. A Modern Central…

Instant Payments Serbia: The NBS IPS System of the National Bank of Serbia

The NBS IPS system is the first payment system in the country that enables instant money transfers, with an average processing time of just 1.2 seconds. The cap on individual transfer orders executed in the NBS IPS system is RSD 300,000 (around EUR 2,500).…

The Future of Cross-Border Payments: Canada’s Journey

The momentum of the FSB roadmap comes at an excellent time as Payments Canada is midway through a multi-year payments Modernization initiative. Guiding our country’s payments Modernization journey are the needs of Canadians, including financial institutions,…

Releasing a National Strategy for Retail Payments in Portugal: Foresight of Medium-Term Evolution

The launch of Banco de Portugal's National Strategy for Retail Payments | Horizon 2022 represents the start of a new phase: implementing a wide range of initiatives to modernise the national market and payment habits within the next two years.

National Bank of Tajikistan Takes Payment System to New Level

In 2015 and under new management, the National Bank of Tajikistan (NBT) started to implement a series of fundamental reforms in the country’s banking and insurance sectors, including payment systems. Thus, in order to strengthen the future development…

Argentina: Open Payments and Universal Access, Using a Functional Approach

Instant payments are now fully available across any institution in Argentina, bank or fintech, thanks to a comprehensive overhaul of the Argentine Electronic Fund Transfers regulation published in October 2020. The initiative aims to deliver 1500…

Azerbaijan Launches the New Digital Payment Platform

Aligned with one of the main goals of the State Program, the CBA developed the Instant Payment System (hereinafter—IPS), which successfully launched on October 1st, 2020. The main rationale behind this initiative is to respond to the most recent challenges…