Developments in Retail Payment Systems

Topics:
Commercial Banking
Tags:
Finance,
Operational Accounting,
Payment,
Payment System
Source:
Bank for International Settlements

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Overview: Banks face three notable challenges in developing retail payment systems: integration of bank and customer systems, use of new technologies to improve the efficiency of payment systems, and international standardization and integration of banking systems. Retail payments - routine settlement of invoices and purchases by consumers and firms - are clearly the dominant type of transaction handled by payment systems in terms of numbers of transactions. On the other hand, wholesale payments, i.e. money market, securities system and inter-bank settlements, are considerably more important in terms of aggregate value.

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Format: PDF | Size: 53KB | Date: Nov 2001 | Pages: 8

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