17 results on '"RETAIL PAYMENT"'
Search Results
2. A PRE AND POST COVID-19 STUDY OF DIGITAL FINANCIAL INCLUSION IN INDIA.
- Author
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Kumari, Monika and Kochhar, Khyati
- Abstract
India has been dealing with the "COVID-19 pandemic" since 2020. In addition to affecting the nation's health infrastructure, this pandemic has also limited people's physical mobility because outside activities would enhance the likelihood of the contagious virus spreading. As a result, this epidemic has provided a chance for a country where financial transactions can be completed digitally via electronic means. In addition to protecting users from the virus, this might also increase the speed of "digital financial inclusion", that is still in its infancy before this epidemic despite the government's unceasing efforts. So, the study discusses "The impact of the COVID-19 pandemic on digital payments" by collecting data from the financial years 2019-20 to 2021-22 by using trend analysis. [ABSTRACT FROM AUTHOR]
- Published
- 2022
3. The interbank payment network and financial system stability
- Author
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Sahabat, Imaduddin, Silalahi, Tumpak, Indrastuti, Ratih, and Herlina, Marizsa
- Published
- 2020
- Full Text
- View/download PDF
4. Financial innovations in Islamic countries: the road to perdition or salvation?
- Author
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Iman, Nofie
- Published
- 2019
- Full Text
- View/download PDF
5. DO SOCIODEMOGRAPHIC FACTORS IMPACT IN THE USE OF CASH IN RETAIL TRANSACTIONS? AN ANALYSIS IN THE CITY OF SÃO PAULO.
- Author
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Tadao Kawamoto, Carlos
- Abstract
This paper presents the result of a study that assessed the use of cash in retail transactions in the city of São Paulo and the influence of individualsÂ' sociodemographic condition and transaction value on the likelihood of paying with banknotes. Respondents were selected by quota sampling process based on their sociodemographic profiles. The analyses were carried out using PearsonÂ's chi-squared test, as well as estimates from probit models. The results indicated that 56% of the respondentsÂ' last purchases were settled in cash, and that both the transaction value and the buyerÂ's sociodemographic condition influence the likelihood of using banknotes. [ABSTRACT FROM AUTHOR]
- Published
- 2021
- Full Text
- View/download PDF
6. Financial innovations in Islamic countries: the road to perdition or salvation?
- Author
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Iman, Nofie
- Abstract
Purpose: How do financial innovations form and evolve in Islamic countries? How do nature and the organisation of innovation interact? Focussing on retail payment services, this paper aims to analyse recent developments and displays an overview of the status of financial innovation in Islamic countries. Design/methodology/approach: This study uses six countries as case studies, namely, Egypt, Indonesia, Morocco, Pakistan, Turkey and the UAE. Comparison within and across those cases helps the author provide explanations of how and why such innovations have worked in particular contexts. Findings: While cash remains dominant, the author found rapid growth in retail payments, but no consensus on standardisation. Several digital innovations have been introduced and begun to converge. Finally, there seems to be a disconnection between innovations and inclusions. Originality/value: This research paper is, among the few, related to innovation in financial services in Islamic countries, and can be used to develop appropriate marketing strategies for capturing value in the market. [ABSTRACT FROM AUTHOR]
- Published
- 2020
- Full Text
- View/download PDF
7. Introduction
- Author
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Khiaonarong, Tanai, Liebenau, Jonathan, Liebena, Jonathan, and Khiaonarong, Tanai
- Published
- 2009
- Full Text
- View/download PDF
8. Entry of FinTech Firms and Competition in the Retail Payments Market.
- Author
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Jun, Jooyong and Yeo, Eunjung
- Abstract
We investigate the effects of entry of financial technology (FinTech) based firms on competition in the retail payments market. With a model of two-sided market with vertical restraints, we derive the following results. When only the entry of a vertically integrated (or end-to-end service) provider is allowed, either all merchants opt for multi-homing or no entry occurs, regardless of the regulatory requirement. On the other hand, if the entry of a downstream-only (or front-end service) provider is allowed, a partial multi-homing equilibrium could emerge under certain conditions, in which the entry of an end-to-end service provider does not occur. Without regulation, however, the vertically integrated incumbent does not voluntarily provide the back-end service to the entrant in general. This suggests the need for proper regulatory measures to reach a socially desirable outcome from the new entry in the retail payments market. [ABSTRACT FROM AUTHOR]
- Published
- 2016
- Full Text
- View/download PDF
9. Modern banking services - as support for improving consumer protection
- Subjects
ТЕЗКОР ТЎЛОВ ,PAYMENT SYSTEM ,РОЗНИЧНЫЙ ПЛАТЕЖ ,PAYMENT ,ПЛАТЕЖНАЯ СИСТЕМА ,INFRASTRUCTURE ,ҚАРЗ ОЛУВЧИ ,BORROWER ,RETAIL PAYMENT ,БАНКОВСКИЙ СЕКТОР ,ИНФОРМАЦИОННЫЕ КОММУНИКАЦИОННЫЕ ТЕХНОЛОГИИ ,CREDIT ,АХБОРОТ КОММУНИКАЦИЯ ТЕХНОЛОГИЯЛАРИ ,ЧАКАНА ТЎЛОВ ,ЗАЕМЩИК ,ПРАВА ПОТРЕБИТЕЛЕЙ ,БАНК СЕКТОРИ ,ИНФРАСТРУКТУРА ,КРЕДИТ ,ТЎЛОВ ТИЗИМИ ,CONSUMER RIGHTS ,ТЎЛОВ ,BANKING SECTOR ,ИНФРАТУЗИЛМА ,ЭКСПРЕСС-ПЛАТЕЖ ,BANK ,EXPRESS PAYMENT ,ИСТЕЪМОЛЧИЛАРИНИНГ ҲУҚУҚЛАРИ ,INFORMATION COMMUNICATION TECHNOLOGY ,ПЛАТЕЖ ,БАНК - Abstract
Данная статья посвящена внедрению изменений в законодательство для улучшения защиты прав потребителей банковских услуг, развитию платежных систем и инфраструктуры информационно-коммуникационных технологий (ИКТ) в банках. This article is devoted to the implementation of changes in legislation to improve the protection of the rights of consumers of banking services, the development of payment systems and information and communication technologies (ICT) infrastructure in banks. Ушбу мақолада банк хизматлари истеъмолчиларининг ҳуқуқларини ҳимоя қилишни такомиллаштириш борасида қонунчиликдаги ўзгартиришлар, банкларда тўлов тизимлари ва ахборот коммуникация технологиялари (АКТ) инфратузилмасини ривожлантириш йўналишида амалга оширишга эътибор қаратилган.
- Published
- 2021
10. The Role of Retail Payment Services in Improving Financial Affordability
- Author
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S. V. Krivoruchko and SHON TUNG Chang
- Subjects
transaction account ,financial literacy ,financial affordability ,lcsh:HB71-74 ,Maya Declaration ,lcsh:Economics as a science ,payment infrastructure ,retail payment - Abstract
Nowadays, nearly 2 billion people of working age worldwide do not use official financial services. Making the access to finance easy is a necessary component to increase the human welfare. Wider access to financial services for individuals and companies can reduce the income inequality and boost the economic growth. Foreign interpretations of the financial affordability concept as well as factors affecting it are analyzed with a focus on the role of retail payment services in its improvement. The authors’ definition of the financial affordability of retail payment services is provided.
- Published
- 2018
11. Returns to Retail Banking and Payments.
- Author
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Hasan, Iftekhar, Schmiedel, Heiko, and Song, Liang
- Subjects
RETAIL banking ,PAYMENT ,RELATIONSHIP banking ,INFRASTRUCTURE (Economics) ,PERFORMANCE evaluation ,DATA analysis - Abstract
The present paper examines the fundamental relationship between the country-level infrastructure of the retail payment market and overall bank performance. Using data from across 27 European markets over the period 2000-07, the results confirm that the performance of banks in countries with more developed retail payment service markets is better. This relationship is stronger in countries with a relatively high adoption of retail payment transaction technologies. Retail payment transaction technology itself can also improve bank performance, and evidence shows that heterogeneity in retail payment instruments is associated with enhanced bank performance. Similarly, higher usage of electronic retail payment instruments seems to stimulate banking business. We also show that retail payment services have a more significant impact on savings and cooperative bank performance, although they have a positive influence on the performance of commercial banks as well. Additionally, the findings reveal that the impact of retail services on bank performance is more pronounced through fee income, although their impact through interest income is also positive. Finally, an effective payment service market is found to be associated with higher bank stability. Our findings are robust to different regression specifications. [ABSTRACT FROM AUTHOR]
- Published
- 2012
- Full Text
- View/download PDF
12. Innovation in Retail Payment Services in Major Economies
- Author
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Retai Payment Systems Group, Payment and Settlement Systems Department
- Subjects
ComputingMilieux_GENERAL ,retail payment ,financial EDI ,ISO20022 - Abstract
Major economies have embarked on various innovative means for enhancing retail payment services. These include such measures as real-time settlement of bank transfers and linking remittance information with payment information for financial electronic data interchange (EDI). In Japan, meanwhile, the government released the revised Japan Revitalization Strategy in June 2014, which includes enhancement of the payment and settlement system to make financial markets more efficient. When introducing such measures, it is important to take stock of recent developments in major economies, and to improve real-time bank transfers and achieve financial EDI while considering the situation in Japan. The Bank of Japan will help financial institutions and other stakeholders steer such initiatives to enhance retail payment services, and will collaborate with the Japanese government.
- Published
- 2014
13. Promoting efficient retail payments in Europe
- Author
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Hasan, Iftekhar, Martikainen, Emmi, and Takalo, Tuomas
- Subjects
jel:G28 ,retail payment ,SEPA ,competition ,consumer protection ,economic performance ,jel:G21 - Abstract
In this article we first document the evidence showing how an efficient retail payment infrastructure enhances economic performance. We then review the policy tools available to promote efficient retail payments in Europe. We argue that while SEPA is an important policy initiative that harmonizes payment methods across the EU, it alone is not enough. Vigorous competition and consumer protection policies as well as direct interventions discouraging large value cash payments would be particularly attractive policy tools as they would put no strain on stretched government budgets.
- Published
- 2014
14. From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation
- Author
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World Bank
- Subjects
MARKET COMPETITION ,MOBILE BANKING ,BANK TRANSFER ,PAYMENT SERVICE ,SETTLEMENT SYSTEMS ,CURRENT ACCOUNTS ,DEPOSIT ,INSTITUTIONAL DEVELOPMENT ,VERIFICATION ,BLACK MARKET ,MOBILE NETWORK ,CREDIT CARD ,RISK ASSESSMENT ,FINANCIAL INFRASTRUCTURE ,PAYPAL ,TheoryofComputation_GENERAL ,THIRD PARTIES ,COMPETITIVENESS ,END-USERS ,REGULATORY ENVIRONMENT ,CAPITAL REQUIREMENTS ,SETTLEMENT INFRASTRUCTURE ,INTERNAL CONTROL ,CREDIT LINES ,RETAIL PAYMENTS ,WITHDRAWAL ,OUTSOURCING ,FINANCIAL AUTHORITIES ,TRANSPARENCY ,SEARCH FACILITIES ,BANK ACCOUNTS ,ISSUERS ,PAYMENT CARDS ,EMERGING ECONOMIES ,PAYMENT PRODUCTS ,HOLDING ,DEPOSITS ,EUROPEAN CENTRAL BANK ,REMITTANCE ,CREDITORS ,BANKING INSTITUTIONS ,COMMUNICATION SERVICES ,SYSTEMIC RISK ,VALUE CHAIN ,ELECTRONIC DEVICE ,PAYMENTS INSTRUMENTS ,SERVICE PROVIDER ,IDENTIFICATION ,MONETARY POLICY ,TELECOMMUNICATION NETWORK ,INTERNAL CONTROLS ,INDIVIDUAL TRANSACTIONS ,LIQUIDITY ,SMALL BUSINESS ,TRADITIONAL BANKING ,COMMUNICATION TECHNOLOGIES ,COPYRIGHT ,BUSINESS OF ELECTRONIC MONEY ,PAYMENT INSTRUMENT ,FINANCIAL SERVICES ,PAYMENT INSTRUMENTS ,FINANCIAL SERVICE PROVIDERS ,COLLATERALIZATION ,COST-EFFECTIVENESS ,OPEN ACCOUNTS ,PAYMENTS SERVICE ,BUSINESS ENVIRONMENT ,RETAIL MARKET ,LEGAL SYSTEM ,RESULT ,MARKET PARTICIPANTS ,BUSINESS PERSPECTIVES ,COMMUNICATION NETWORKS ,REGULATORY CONSTRAINTS ,REGULATORY FRAMEWORK ,NETWORKS ,RISK EXPOSURES ,FINANCIAL SYSTEM ,PAYMENT MECHANISMS ,LIABILITY ,BUSINESS PLAN ,FINANCIAL INSTITUTIONS ,TELECOMMUNICATIONS ,BANKING SERVICES ,BUSINESS MODELS ,MOBILE PHONE ,LEGAL STATUS ,BUYER ,ComputerApplications_MISCELLANEOUS ,PHYSICAL ACCESS ,PRUDENTIAL SUPERVISION ,REMITTANCE SERVICES ,CENTRAL BANKS ,ELECTRONIC MONEY INSTITUTIONS ,ISSUANCE ,SETTLEMENT OF TRANSACTIONS ,SUBSIDIARY ,FINANCIAL PERFORMANCE ,MONEY TRANSFER ,RESULTS ,PAYMENTS SYSTEM ,PAYMENTS INFRASTRUCTURE ,CLOSED NETWORKS ,LIQUIDITY RISK ,TRANSFER OF INFORMATION ,NEW TECHNOLOGIES ,USER RELATIONSHIP ,REMITTANCE SERVICE ,BANK POLICY ,COMMUNICATIONS NETWORK ,GLOBAL BANKS ,OPERATIONAL RISK ,CUSTODY ,CREDIT CARDS ,TELECOMMUNICATION ,TECHNICAL ASSISTANCE ,PERFORMANCES ,COMPUTERS ,ELECTRONIC PAYMENTS ,TECHNOLOGY-NEUTRAL ,E-MONEY ,LICENSES ,CASHLESS SYSTEM ,ANTI-MONEY LAUNDERING ,OPERATIONAL EFFICIENCY ,POST OFFICE ,CUSTODY SERVICES ,PAYMENT TRANSACTIONS ,GLOBAL PAYMENT ,ACCESS TO PAYMENT SYSTEMS ,CONSUMER PROTECTION ,FINAL SETTLEMENT ,E-MAIL ,RISK MANAGEMENT ,CREDIT INSTITUTIONS ,PAYMENT SYSTEM ,RETAIL PAYMENT SYSTEM ,PAYMENT SYSTEMS ,RETAIL PAYMENT SYSTEMS ,MARKET STRUCTURE ,NUMBER OF USERS ,MOBILE PHONES ,INTEROPERABILITY ,SEARCH ,TRACEABILITY ,OPEN ECONOMY ,PAYMENT SERVICES ,SEGREGATION ,FINANCIAL ENTITIES ,SUPERVISION ,CREDIT LINE ,BANKING SECTOR ,DURABLE ,PAYMENTS SERVICES ,AUTONOMY ,OPERATIONAL FUNCTIONS ,TELEPHONE ,FINANCIAL SERVICE ,INNOVATION ,ECONOMIC ACTIVITY ,RETAIL PAYMENT ,INSURANCE POLICY ,BUSINESS SECTOR ,SUPERMARKETS ,AUTHORIZATION ,LEGAL PROTECTION ,MINISTRIES OF FINANCE ,BUSINESS ACTIVITIES ,PREPAID CARDS ,REAL TIME SETTLEMENT ,REMITTANCES ,MONEY TRANSFERS ,USER ,BRANCHLESS BANKING ,POS ,ComputingMilieux_GENERAL ,ELECTRONIC MONEY INSTITUTION ,BUSINESS MODEL ,LICENSE ,INSURANCE ,TURNOVER ,PRIVATE SECTOR ,CONTRACTUAL RELATIONSHIP ,COMPARABLE GUARANTEE ,FINANCIAL INSTITUTION ,BANK BRANCHES ,PUBLIC POLICY ,INNOVATIONS ,DIGITAL DEVICES ,INTERNATIONAL LAW ,LEGISLATION ,INTERNATIONAL BANK ,BANK DEPOSIT ,NEW ENTRANTS ,MATERIAL ,PRIVATE SECTOR DEVELOPMENT ,PRUDENTIAL REQUIREMENTS ,SERVER ,CREDIT INSTITUTION ,TELECOM ,LEGAL FRAMEWORK ,OLIGOPOLIES ,PAYMENT TRANSACTION ,POST OFFICES ,OPERATIONAL FUNCTION ,QUERIES ,ATM ,REGISTRY ,CIVIL LAW ,FOREIGN CURRENCY ,LEVEL PLAYING FIELD - Abstract
Retail payment systems play an important role in the smooth functioning of any economy, and thus any inefficiency in the retail payments market can send negative effects cascading throughout the financial realm. The World Bank Global Payment Systems Survey 2010 has shown that inefficiencies persist in the payment systems of many middle-income and low-income countries, with cash continuing to be the most widely used instrument for small-value payments. A number of issues are responsible for this pattern, and the lack of a coherent, holistic strategy for the development of retail payment systems is among the most common. The lessons learned during more than a decade of World Bank Group technical assistance, along with the research findings of other international and national agencies, have been merged into a comprehensive package for the development and reform of the national retail payments system: a) developing a comprehensive national retail payments strategy aims to provide public authorities and market participants with detailed guidance on how to develop and implement a comprehensive, strategic retail payments reform ; b) a practical guide for retail payments stocktaking identifies a methodology for undertaking a detailed stocktaking of a countrys retail payments landscape; c) from remittances to m-payments: Understanding alternative means of payment within the common framework of retail payments system regulation explores the development of a normative framework to underpin an efficient retail payments industry, including the so-called innovative payment mechanisms; and d) innovations in retail payments worldwide: a snapshot: outcomes of the global survey on innovations in retail payments instruments and methods 2010 presents the results of the first World Bank survey among central banks that collected information on innovative retail payment products and programs.
- Published
- 2012
15. People's Republic of China Financial Sector Assessment Program : CPSS Core Principles for Systemically Important Payment Systems
- Author
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International Monetary Fund and World Bank
- Subjects
LOW VALUE PAYMENT SYSTEM ,RETAIL INVESTORS ,RESERVE REQUIREMENTS ,REVOLVING FUND ,BANK CARD ,PAYMENT SERVICE ,SAVINGS BANK ,CREDIT COOPERATIVES ,GROSS DOMESTIC PRODUCT ,RURAL BANKS ,ACCOUNT MANAGEMENT ,DEPOSIT ,ELECTRONIC PAYMENT ,INTERNATIONAL SETTLEMENTS ,SETTLEMENT PROCEDURES ,INFORMATION TECHNOLOGY ,CREDIT UNIONS ,LEGAL AUTHORITY ,RURAL CREDIT ,STAKEHOLDERS ,INSTRUMENT ,FEDERAL RESERVE ,INTERNATIONAL STANDARDS ,REAL-TIME GROSS SETTLEMENT ,EMERGENCY RESPONSE ,LETTERS OF CREDIT ,ANTI-MONEY LAUNDERING ,COLLATERAL ,GOVERNMENT BONDS ,SERVICE PROVIDERS ,ELECTRONIC TRANSACTIONS ,MARK-TO-MARKET ,CLEARING HOUSE ,FINANCIAL MARKET ,PAYMENT TRANSACTIONS ,POSTAL SAVINGS ,RESERVES ,INTERNAL CONTROL ,PROMISSORY NOTES ,MANAGEMENT SYSTEM ,CONSUMER PROTECTION ,OPPORTUNITY COST ,SETTLEMENT RISK ,WITHDRAWAL ,SETTLEMENT ,RISK MANAGEMENT ,TRANSPARENCY ,SPOT MARKET ,INSTITUTIONAL INVESTORS ,PAYMENT SYSTEMS ,LIQUIDITY POSITION ,RETAIL PAYMENT SYSTEMS ,SECURITIES REGISTRATION ,HOLDING ,REMITTANCE ,SYSTEM DESIGN ,BANKING INSTITUTIONS ,MANAGEMENT INFORMATION ,FEDERAL RESERVE BANK ,LOW VALUE PAYMENT ,HIGH VALUE PAYMENT SYSTEM ,BILL OF EXCHANGE ,DEBIT CARDS ,PAYMENTS INSTRUMENTS ,STOCK EXCHANGES ,BANKING INDUSTRY ,PROXY ,MARKET MECHANISMS ,ELECTRONIC SIGNATURE ,OPERATIONAL RISKS ,IDENTIFICATION ,SETTLEMENT SERVICES ,MORAL SUASION ,INFORMATION SYSTEM ,SECURITIES LAW ,SWAP ,FOREIGN BANKS ,LIQUIDITY ,CLEARING CORPORATION ,CREDIT RISK ,REGULATORY AUTHORITY ,BOND MARKETS ,PAYMENT APPLICATION ,SETTLEMENT SYSTEM ,FUND TRANSFER ,ELECTRONIC PAYMENT SYSTEM ,PAYMENT INSTRUMENT ,FINANCIAL SERVICES ,MONEY LAUNDERING LAW ,CENTRAL DEPOSITORY ,CENTRAL BANK ,RETURN ,MANAGEMENT OF RISKS ,COLLATERALIZATION ,CORPORATE SECURITIES ,RETAIL PAYMENT ,BANK REGULATION ,RTGS ,BANK ACCOUNT ,FIXED ASSETS ,LARGE VALUE TRANSFER SYSTEMS ,FOREIGN EXCHANGE ,DEPOSIT ACCOUNT ,TRADING SYSTEM ,BANKRUPTCY ,ACCOUNTING ,COMMERCIAL BANK ,FINANCIAL RISKS ,MARKET PARTICIPANTS ,PAYMENT CLEARING ,CREDIT INFORMATION ,CAPITAL MARKETS ,REGULATORY FRAMEWORK ,CONTRACT LAW ,ATM TERMINALS ,SECURITIES SETTLEMENT ,DERIVATIVE TRANSACTIONS ,FINANCIAL SYSTEM ,TELEPHONE BANKING ,EXCHANGE RATE ,EQUIPMENT ,TELECOMMUNICATIONS ,CORRESPONDENT BANKS ,ELECTRONIC EXCHANGE ,TURNOVER ,DIRECT DEBITS ,BOND ,CREDIT TRANSFERS ,NATURAL DISASTERS ,CENTRAL BANK BILLS ,GOVERNMENT SECURITIES ,SECURITIES TRANSACTIONS ,RISK CONTROL ,BILL PAYMENTS ,FINANCIAL INSTITUTION ,AGRICULTURAL BANK ,PAYMENT CARD ,BANK BRANCHES ,TRANSACTION AUTHORIZATION ,LOCAL BANKS ,PAPER INSTRUMENTS ,DOMESTIC BANKS ,PUBLIC POLICY ,MONEY SETTLEMENT ,RISK PROFILES ,RISK MANAGEMENT TOOLS ,LEGAL STATUS ,SECURITIES ,CASH TRANSACTIONS ,INTERNATIONAL BANK ,MONETARY FUND ,REMITTANCE SERVICES ,CONSUMER PROTECTION LAW ,PAYMENT ORDERS ,BANK BOND MARKET ,DEVELOPMENT BANK ,ISSUANCE ,DERIVATIVE ,FOREIGN EXCHANGE TRANSACTION ,PAYMENTS SYSTEM ,TRADING ,CURRENCY TRANSACTIONS ,LEGAL FRAMEWORK ,RESERVE FUND ,VALUE PAYMENT SYSTEM ,LIQUIDITY RISK ,MARKET SHARES ,ATM ,BANK BOND ,CHECKS ,CIVIL LAW ,SECURITY REQUIREMENTS ,ComputingMilieux_COMPUTERSANDSOCIETY ,ACCESS TO PAYMENT SERVICES ,FOREIGN CURRENCY ,INTEREST RATE ,LIQUIDITY MANAGEMENT ,BANKRUPTCY LAW ,CASH PAYMENT ,SYSTEM FAILURES ,NEGOTIABLE INSTRUMENTS ,HUMAN RESOURCE ,TRANSACTION - Abstract
People's Bank of China (PBC) has carried out a major and comprehensive reform of the China National Payments System (CNPS). The PBC implemented the China National Advanced Payment System (CNAPS), which consists of the High-Value Payment System (HVPS) and the Bulk Electronic Payment System (BEPS). The HVPS system currently operates in a tiered way with a national processing center (NPC) and 32 local processing centers (LCPs). The HVPS system is interconnected to many trading, payments, and securities settlement systems (SSS) to allow for central bank money settlement. In addition, there is numerous cheque clearing houses around the country administered by the PBC local offices or delegated to banks. China Union Pay (CUP) handles the clearance of cards transactions whose balances are settled in the HVPS. Also automated clearinghouses (ACHs) and other systems handle clearance and settlement for a variety of payment instruments. The HVPS is a systemically important payment system, as it is the backbone of the national payments system in China. The HVPS handled transactions for a value of CY 804 trillion in 2009, approximately 24 times the Gross Domestic Product (GDP) value. Thus, the HVPS is being assessed against the ten Core Principles for Systemically Important Payment Systems (CPSIPS) of the Committee for Payment and Settlement Systems (CPSS) and the four responsibilities of the central banks in applying the CPSIPS. The BEPS is not currently a systemically important payment system. However, its importance for an efficient settlement of the interbank payment system is growing. The present document is the assessment of the systemically important payment systems in the People's Republic of China (PRC) based on the CPSS CPSIPS. The document also contains an analysis of some developmental issues related to the reform of the payments system as a whole. The assessment was conducted in the context of the first field mission of the Financial Sector Assessment Program (FSAP) to the PRC (June 2010).
- Published
- 2012
16. El Salvador Financial Sector Assessment Program Update : Payments, Remittances, and Securities Settlement Systems
- Author
-
International Monetary Fund and World Bank
- Subjects
REMITTANCE SERVICE ,RESERVE REQUIREMENTS ,STOCK MARKET ,SETTLEMENT SYSTEMS ,BANKING SUPERVISION ,OPERATIONAL RISK ,SECURITIES MARKET ,DEPOSIT ,FUNDS TRANSFER ,CREDIT CARDS ,ELECTRONIC PAYMENT ,STOCKS ,LOCAL CAPITAL MARKET ,EFTPOS ,FINANCIAL INTERMEDIATION ,ORDER OF PAYMENT ,BANK CUSTOMERS ,BENEFICIARIES ,STAKEHOLDERS ,INSTRUMENT ,TERRORISM ,INTERNATIONAL STANDARDS ,REAL-TIME GROSS SETTLEMENT ,REPO FACILITY ,LENDER OF LAST RESORT ,CUSTOMER ACCOUNTS ,FINANCIAL INTERMEDIARIES ,TRANCHES ,JURISDICTION ,CLEARING HOUSE ,RESERVES ,FRAUD ,ASSETS ,INTERNAL CONTROL ,CONSUMER PROTECTION ,FINAL SETTLEMENT ,RETAIL PAYMENTS ,TREATY ,FINANCIAL SYSTEMS ,ELECTRONIC PAYMENT SYSTEMS ,PAYMENT INSTRUCTIONS ,REPO TRANSACTIONS ,SETTLEMENT ,RISK MANAGEMENT ,TRANSPARENCY ,PAYMENT SYSTEM ,MORTGAGE ,REPO ,BANK ACCOUNTS ,MISMANAGEMENT ,PAYMENT SYSTEMS ,RETAIL PAYMENT SYSTEMS ,POINT OF SALE ,CHEQUES ,CREDIT RISKS ,DEPOSITS ,REMITTANCE ,EFT ,ELECTRONIC FUNDS TRANSFER ,TRANCHE ,TRANSFER OF FUNDS ,INTERNATIONAL MARKETS ,END-USER ,SETTLEMENTS ,STOCK MARKET CAPITALIZATION ,PAYMENT SERVICES ,DEBIT CARDS ,CLEARINGHOUSE ,SERVICE PROVIDER ,STOCK EXCHANGE ,EVOLUTION OF PAYMENT ,OPERATIONAL RISKS ,SETTLEMENT SERVICES ,DEFAULTS ,FOREIGN BANKS ,DISBURSEMENT ,LIQUIDITY ,PLAN FOR PAYMENT ,CREDIT RISK ,BANKING SECTOR ,DVP ,CASH MANAGEMENT ,CLAIM ,GOVERNMENT POLICIES ,RESERVE ACCOUNTS ,PAYMENT INSTRUMENT ,FINANCIAL SERVICES ,PAYMENT INSTRUMENTS ,FINANCIAL PRODUCTS ,INTERNET BANKING ,CHECKING ACCOUNTS ,CENTRAL BANK ,LOCAL MARKET ,RETURN ,SETTLEMENT PROVISIONS ,HOST ,JURISDICTIONS ,LIQUIDITY RISKS ,FACTORING ,FLOWS OF PAYMENTS ,REPO MARKET ,INTERBANK PAYMENTS ,RETAIL PAYMENT ,CAPITAL MARKET ,CREDIT TRANSFER ,RTGS ,ELECTRONIC FUNDS ,AUTHORIZATION ,COOPERATIVE BANKS ,NEGOTIATION ,REAL TIME GROSS SETTLEMENT ,LENDER ,OPEN ACCESS ,COMMERCIAL BANK ,FINANCIAL RISKS ,REMITTANCES ,CAPITAL MARKETS ,MAKING PAYMENTS ,OVERSIGHT OF PAYMENT SYSTEMS ,PRIVATE NETWORK ,MULTILATERAL NETTING ,POINT OF SALE TERMINAL ,REGULATORY FRAMEWORK ,LEGAL PROHIBITION ,POS ,PENALTIES ,SECURITIES SETTLEMENT ,FINANCIAL SYSTEM ,REAL TIME GROSS SETTLEMENT SYSTEM ,SECONDARY MARKET ,LEGAL PROVISIONS ,RESERVE ,CORPORATE BOND ISSUERS ,FINANCIAL INSTITUTIONS ,CENTRAL SECURITIES DEPOSITORY ,NATIONAL PAYMENT SYSTEMS ,CURRENCY ,CORPORATE BONDS ,PAYMENTS SYSTEMS ,CASE OF DEFAULTS ,CREDIT TRANSFERS ,GOVERNMENT SECURITIES ,SECURITIES TRANSACTIONS ,GOVERNMENT PAYMENTS ,MICROFINANCE INSTITUTIONS ,BANK BRANCHES ,LEGAL REFORM ,PUBLIC POLICY ,MOBILE PHONE ,EFFECTIVE GOVERNANCE ,LEGISLATION ,DELIVERY VERSUS PAYMENT ,SECURITIES ,COMMERCIAL BANKS ,INTERNATIONAL BANK ,REPO MARKETS ,MICROFINANCE ,ACH ,EQUITY MARKETS ,MONETARY FUND ,REMITTANCE SERVICES ,CENTRAL BANKS ,CORPORATE BOND ,EDUCATION LOANS ,SECURITIES SETTLEMENT SYSTEMS ,SALARIES ,MONEY TRANSFER ,PAYMENTS SYSTEM ,LEGAL FRAMEWORK ,STANDARDIZATION ,FINANCE COMPANIES ,LAWS ,SAVINGS ,BANK SUPERVISION ,LIQUIDITY RISK ,ATM ,INTERNAL REPORTING ,LIQUIDITY MANAGEMENT ,GROSS SETTLEMENT SYSTEM ,ACCOUNTABILITY ,INSURANCES ,TRANSACTION - Abstract
Payment systems are a core part of all financial systems. The quality of payment systems determines the stability of the overall economy, the efficiency and reliability of financial intermediation, and the possibility for the private sector to innovate and provide new services to consumers. This technical note presents the results of the assessment of payments, remittances, and securities settlement processes in El Salvador, based on international standards and best practices. It includes several observations for the improvement of the National Payments System (NPS) in El Salvador. This note takes into account the peculiarities of the jurisdiction of El Salvador: namely, the relatively small size of the financial system and the dollarized nature of the economy. The central bank and other institutions are already planning appropriate actions on many of the issues discussed. In some cases, however, the team identified additional elements, which are discussed in this note.
- Published
- 2010
17. Return from retail banking and payments
- Author
-
Hasan , Iftekhar, Schmiedel , Heiko, and Song, Liang
- Subjects
jel:G28 ,retail payment ,bank performance ,cost and profit efficiency ,jel:G21 - Abstract
The European banking industry joined forces to achieve a fully integrated market for retail payment services in the euro area: the Single Euro Payments Area (SEPA). Against this background, the present paper examines the fundamental relationship between retail payment business and overall bank performance. Using data from across 27 European markets over the period 2000–2007, we analyse whether the provisions of retail payment services are reflected in improved bank performance, using accounting ratios and efficiency measures. The results confirm that banks perform better in countries where the retail payment service markets are more highly developed, and the relationship is stronger in countries with a relatively high adoption of retail payment transaction technologies. Retail payment transaction technology can itself also improve bank performance, and statistical evidence shows that heterogeneity in retail payment instruments is associated with enhanced bank performance. Similarly, a higher usage of electronic retail payment instruments seems to stimulate banking business. We also show that retail payment services have a more significant impact on savings and cooperative bank performance, although they do also have a positive influence on the performance of commercial banks. Additionally, our findings reveal that the impact of retail services on bank performance is dominated by fee income. Finally, an effective payment service market is found to be associated with higher bank stability. Our findings are robust to different regression specifications. The results may also be informative for the industry when reconsidering its business models in the light of current financial market developments.
- Published
- 2010
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