2Payment System Infrastructures and Money Transfer Technologies
Executive Summary
Financial infrastructures, such as payment systems, financial telecommunication networks, clearing houses and settlement engines, are critical “institutions” that facilitate value transfer. These are the rails upon which money and data flow, making possible the exchange of goods and services in the economy. How these systems originate and evolve over time, as well as the impact of technology, standards and governance in this context, are matters of great interest both for practitioners and scholars in this space.
This part aims to examine the latest developments in payment system infrastructures and how these will shape the future of money transfer. In more detail, we explore:
- What are the technologies transforming the field of payments?
- How do the different stakeholders that utilize the payment rails, such as merchants, consumers and national market infrastructures, respond and influence payments modernization in the global market?
- What is the role of financial messaging standards in this space?
- How does geopolitical uncertainty contribute to the shaping of these infrastructures?
- How does new regulation help (or not) to push innovation in payments?
This part also provides insights on the factors that affect the adoption and diffusion of payment technologies and the conditions under which they ...
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