When we set out to write The Pay Off, How Changing the Way We Pay Changes Everything, we aimed to write a textbook – in part because much of the money storming the payments industry seemed ill informed about how money actually ‘moves.’ But before long…
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…
The Central Bank of Solomon Islands (CBSI) recently launched the National Financial Inclusion Strategy 3, 2021-2025 (NFIS3), which provides the third 5-year roadmap for financial inclusion in the Solomon Islands.
Visa Economic Empowerment Institute (VEEI) research found that small businesses which were digitally enabled and connected to global and regional marketplaces fared better during the pandemic than firms that were not; these digitally enabled and connected…
While we do not see a need now to issue a CBDC, we are preparing for a day when the Government of Canada may give us the green light to launch a viable CBDC that Canadians could use with confidence. Our research on policy and design has shifted accordingly,…
Central Bank Payments News catches up with Mark Gould, a 30-year veteran of the Federal Reserve System and its first chief payments executive. In his new landmark role, Mark is responsible for leading the full range of cash and payment services provided…
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…
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).…
“We, at the Central Bank of Kuwait, are preparing the infrastructure for future aspirations that would enable a truly digital economy.” With these words in September 2019, Central Bank of Kuwait (CBK) Governor Mohammad Y. Al-Hashel laid out a vision that…
As a global network with more than six decades of experience building inclusive digital ecosystems, Visa understands that creating the conditions for sustainable growth at scale is a shared responsibility of the public and private sectors. That is why…
