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Defining payments systems of the future: Challenges and reality

Author

Listed:
  • Mackman, Bob
  • Sanders, Richard

Abstract

This paper sets out to define the payments system of the future, providing insight into how a payments hub concept will help to overcome some of the challenges currently facing the payments industry, as well as enabling banks to generate further revenue. The paper puts forward the argument for a new type of payments model which blends products and blurs the distinction between high and low value, and between domestic and international payments: payments hubs. The reader will gain a high level of understanding of how a hub architecture can be introduced and the advantages of implementing a standardised operating model which covers multiple payment types.

Suggested Citation

  • Mackman, Bob & Sanders, Richard, 2009. "Defining payments systems of the future: Challenges and reality," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 3(4), pages 290-300, November.
    • Handle: RePEc:aza:jpss00:y:2009:v:3:i:4:p:290-300
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    More about this item

    Keywords

    payments processing efficiency; payment hubs; consistent payments architecture; financial middleware; liquidity management; payments regulation; SEPA; PSD;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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