Kazakhstan: Future of Payment and Digital Financial Infrastructure

The National Bank of Kazakhstan is building payment and digital financial infrastructure in the interests of everyone. These projects are aimed to stimulate competition, increase security and convenience, and, importantly, reduce the cost of financial…

ProgressSoft: Offline Use in Central Bank Digital Currencies - Between a Rock and a Hard Place

Offline use may be a critical differentiating factor in the value proposition of a CBDC for end users, compared with its commercial bank card and electronic counterparts. Because consumers understandably do not appreciate the difference between commercial…

Afghanistan Digital Payments and the Rise of AfPay

The Afghanistan Payments System (APS) was spearheading the modernization of retail banking in the country—and was poised to ride that momentum well into the future—when the Afghan government collapsed in August 2021. Ahmad Shakir Wali, Managing Director…

RTGS.global: Building a Financial Market Infrastructure for the Digital Age

While the industry’s focus remains largely on modernising retail transactions, wholesale payment systems, which ultimately underpin and enable rapid retail transfers to take place, have not yet benefitted from meaningful transformation. This is especially…

Launching AfricaNenda in a Post-Covid World: Accelerating the Scale-Up of Inclusive Instant Payments in Africa

AfricaNenda is a newly founded independent, African-led organisation created to accelerate the growth of instant and inclusive payment systems that will benefit all Africans, including the poorest and currently financially excluded. ‘Nenda’ means ‘go!’…

Central Bank of the Future Project Examines Technology and Financial Inclusion

The central bank of the future must adapt to changing technologies to provide a financial system that works for all. Over the last three years, the University of Michigan’s Center on Finance, Law & Policy (CFLP) and the Bill and Melinda Gates Foundation…

Instant Payments for the Maldives: The Maldives Payment System Development Project

To capitalize on the technological developments in the global payments arena and the country’s strong telecommunication infrastructure, the MMA identified the need for a sound and inclusive, digitally enhanced network that will address the obstacles in…

India: Recent Developments in Payment and Settlement Systems

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…

Colombia: New Regulation for the Low Value Payment System

Based on the experience and regulations of other countries, such as the United Kingdom, Singapore, and Brazil, Decree 1692 of 2020 sets a new architecture for the low value payment system in Colombia. It adds objectives and principles for the operation…

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…