Template-Type: ReDIF-Article 1.0
Author-Name: Jon Frost
Author-Name: Priscilla Koo Wilkens
Author-Name: Anneke Kosse
Author-Name: Vatsala Shreeti
Author-Name: Carolina Velásquez
Title: Fast payments: design and adoption
Abstract: The payments landscape is evolving rapidly, and fast payment systems (FPS) have emerged as a key innovation. Jurisdictions differ in their approach to designing FPS and in user adoption. In this article we lay out the main design features of FPS that may foster adoption. Cross-country regressions suggest that adoption of fast payments is greater when the public sector plays an active role in the FPS. Other design factors important for adoption are non-bank participation, more use cases and more cross-border connections.
Journal: BIS Quarterly Review
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2403c.pdf
File-Format: Application/pdf
File-URL: http://www.bis.org/publ/qtrpdf/r_qt2403c.htm
File-Format: text/html
Year: 2024
Month: March
Classification-JEL: H41, L10
Handle: RePEc:bis:bisqtr:2403c