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core features of existing money and payment systems, while offering faster, more efficient, and potentially more inclusive ways to pay. Stablecoins aspire to be a new type of money supported by a novel payments technology, with implications for the payment system that are more difficult to predict.
Payment systems are currently undergoing important changes, mostly because of technological innovations. Such changes include a declining role for cash and a growing prominence of fast payment solutions. In this article, I discuss these developments and the challenges they create for central banks.
What is payments modernization? Financial Institutions for the past decade have undergone various efforts to modernize their payments systems.
These steps gave the federal government tools to carry out a policy of active economic development. Rarely in the history of finance has so much been achieved in so short a time. Building and shaping the nation’s capacity to manage public finances was a profoundly political process.
1 Ιαν 2023 · With the rise of the Internet popularising electronic commerce (e-commerce) and other e-transactions, electronic payments (e-payments) have evolved from a technological novelty to one of the leading payment options.
Download book PDF. Download book EPUB. Overview. Editors: Bernardo Batiz-Lazo, Leonidas Efthymiou. Provides a global overview of the history and development of retail financial transaction infrastructures. Offers insights into future alternatives to cash, cheques and plastic.
In this chapter we reviewed the major innovations in the American payments industry, from the formation of the Federal Reserve to the National Bankcard Associations, in order to construct a historical context for Visa’s formation and development.
