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…

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…

Buna: The Right Vision That is Being Delivered at the Right Time

Buna, the cross-border and multi-currency payment system, came to fruition on the 23rd of February 2020 as a culmination of an implementation program launched in 2018 that was preceded by a thorough feasibility study initiated in 2016. In fact, Buna’s…

Future of the Payment System in Nigeria: 2020 and Beyond

Nigeria is acknowledged as a major economic force within Africa, and also an active player in the global economy. To participate actively therefore, her payments system must be credible, reliable and efficient, and successfully benchmarked against the…

Dr. Reza Baqir, Governor, SBP Launches Pakistan’s National Payment Systems Strategy to Accelerate Digital Transformation

Sharoon Rasheed and Rehman Pervez from the State Bank of Pakistan’s Payment Systems Department provide an update on the exciting new developments transforming Pakistan’s payments landscape

BoF-PSS2: Bank of Finland Payment and Settlement System Simulator

The Bank of Finland has provided a multipurpose payment and securities settlement system simulator for the global central banking and research community since 2004. The Bank's Payment and Settlement System Simulator (BoF-PSS2) is a natural outcome for…

Payments Modernization Gains Momentum in Canada

Payments Modernization is progressing on a global scale, addressing consumer and business needs for greater speed, flexibility and security. Moreover, the entire payments landscape is evolving. The introduction of new technologies and capabilities, the…

Connecting Thailand: The Journey of a Payment Revolution

Over the past few years, many crucial developments have taken place in the Thai payments landscape to keep pace with new technology and customers’ needs. In particular, the enhancements to the country’s payment systems infrastructure have broadened public…

A New Payments Architecture for the UK

Pay.UK runs the UK’s non-card retail payments operations – owning and operating Bacs, Faster Payments and the Cheque and Credit Clearing Company. As the single operator for these systems we act as the guardian of an infrastructure and services that enable…

The World Bank Group's Payment Systems & Financial Inclusion Initiatives

The development and implementation of safe and efficient national payments systems is an integral component of the World Bank Group’s (WBG) work to reduce poverty and boost shared prosperity. The National Payments System (NPS) is the underlying foundation…