As ISO 20022 adoption gains momentum, we believe that policymakers and the broader financial services community can leverage insights from the last 15 years of ISO 20022 implementations, while also drawing from card networks’ more than 40 years of experience…
The emerging consensus that consumer acceptance is a critical success factor in a CBDC deployment compels countries at all stages of CBDC development to align their designs closely with consumer needs and expectations. These insights can only be established…
Despite all the recent attention on the topic of offline payments, there remains an unclear understanding in the market around the practical design choices and trade-offs for offline real-time payments and CBDCs. Crunchfish, a pioneer for offline payments,…
South Africa is currently transitioning its regulatory landscape to support increased access to the National Payment System (NPS) and to adopt activity-based licensing and regulation for payment service providers. The Payments Association of South Africa…
A closer look at how cross-border payment solutions are meeting end user needs can be invaluable in guiding the public and private sectors’ efforts to make meaningful improvements.
By leveraging emerging technologies, and availing infrastructure to seamlessly integrate with those technologies both at a bi-currency level (country-to-country) and at a multi-CBDC level or consortium of multiple countries, a foundation for a truly global…
Named after the Swahili word for “one,” the Mojaloop open-source software project was established in 2017 by the Bill & Melinda Gates Foundation to address the lack of guaranteed inclusiveness and interoperability within nations’ payment systems to allow…
Since the G20 roadmap was launched in autumn 2020, considerable progress has been achieved across 19 different building blocks (BBs). The authorities internationally have developed a strong understanding of the issues, taken stock of emerging solutions…
While global regulators are rightly promoting the implementation of common standards, fast-developing geopolitical risks could lead to an increasingly fragmented ecosystem instead. This highlights the need for banks and financial services providers to…
In my previous article in this publication a few months after the launch of Buna in 2020, I shared some thoughts on the challenges that cross-border payment systems must tackle to develop and progress. In the past two years, we have been onboarding new…
