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…
The Lean Product Development (LPD) literature offers strategies to guide user-centered design and drive adoption. Prominent LPD concepts are discussed here in the context of retail CBDC development.
On May 23, 2022, the Central Bank of Paraguay (BCP) implemented the first phase of the Paraguayan Instant Payment System (SPI). This first phase consisted of implementing electronic fund transfers 24 hours a day, 7 days a week (24x7). For end customers,…
It will likely be private sector innovation that provides the key to unlocking faster, safer, more efficient, and less expensive cross-border payments. The private sector is well placed to advise on and illustrate the practicalities of how to improve…
Fast payments are an important layer in digital public infrastructures — i.e., foundational systems back boning the provision of essential functions and services in a modern society — with the potential to drive economic growth and sustainable development.
In Africa, the development of Instant and Inclusive Payment Systems (IIPS) and the use of open-source software like Mojaloop offer hopes of speeding up the onboarding of more than 350 million financially excluded adults on the continent.
Technology is revolutionising the provision of financial services. Central banks and other public authorities are identifying the opportunities this opens up, and one response has been to set up innovation functions. The Bank for International Settlements…
The past decade has been a game-changer for Jordan's financial ecosystem, especially in terms of digital financial services and financial technology. In the first half of the decade, the country saw major developments in digital infrastructure, legislative…
In part two of our interview with Ledia Bregu, Director of Payment Systems, Accounting and Finance Department for the Bank of Albania (BoA), the conversation turned to AIPS EURO, a new payments infrastructure launched in 2022, Albania’s EU membership…
