The BIS Innovation Hub (BISIH) has developed Nexus, which is a blueprint to connect IPS globally in a multilateral and scalable manner. Nexus achieves this by standardising the way IPS connect to one another by leveraging on a common set of Application…
The third annual Central Bank Payments News supplement features insightful perspectives from six leading players in the global payments ecosystem who are working closely with central banks to spark genuine transformation in payments.
The instant payment systems (IPS) landscape in Africa is vibrant, propelled by the growing need for faster, interoperable, more secure, more affordable, and more convenient retail payment options. As of 2023, there were 32 live public or public-private…
A high-profile delegation of central bankers and innovators in the payments industry will be heading to Kuala Lumpur, Malaysia, this June for the Currency Research Global Payments Week 2024. To find out more about the themes guiding the events — the Central…
The Central Bank of the Republic of Türkiye (CBRT) is playing a catalytic role in the development of a “robust and innovative payment landscape,” most notably with the establishment in 2021 of an instant payment system and, more recently, its work on…
The instant payment ecosystem in Africa continues to show increased dynamism, as the number of instant payment systems (IPS) expands and more transactions run through them, as documented in the State of Inclusive Instant Payment Systems in Africa 2023…
The settlement of the Danish krone (DKK) is scheduled to migrate to the European payment and securities settlement platform TARGET Services in 2025. The Danish krone will be the first non-euro currency to be connected to all TARGET Services for payments…
Iceland's journey in the realm of instant payments is historic, dating back to 2002 with the initiation of the Central Bank of Iceland's large value payment system, SG, followed by the introduction of the instant payment system, JK, in 2003. These systems,…
The Central Bank of the United Arab Emirates is actively pursuing digital innovation through the Financial Infrastructure Transformation (FIT) Programme. Among other key objectives, the FIT Programme focusses on driving financial inclusion, promoting…
The pace of evolution in instant payments, also known as real-time or fast payments, has been phenomenal, especially in emerging economies, and has acted as a catalyst to kickstart economic activities. Regulators and governments worldwide are striving…
