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Payment systems trends in Japan: Birth of the next generation BOJ-NET

Author

Listed:
  • Yanagawa, Eiichiro

    (Senior Analyst in the Asian Financial Services Group, Celent, The Imperial Hotel Tower 13F 1-1-1 Uchisaiwai-cho, Chiyoda-ku, Tokyo 100-0011, Japan)

Abstract

The computerised backbone of Japan’s payment and settlement system, the Bank of Japan Financial Network System (BOJ-NET), is undergoing an upgrade. Over the past decade, the system has added functions and undergone enhancements, but these pale next to this ambitious system overhaul, which promises to have an enormous impact on both systems and operations for financial institutions. This paper considers BOJ-NET, the heart of the nation’s payment system, and analyses the evolution of this payment service and the nation’s payment system.

Suggested Citation

  • Yanagawa, Eiichiro, 2014. "Payment systems trends in Japan: Birth of the next generation BOJ-NET," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 8(2), pages 172-187, June.
    • Handle: RePEc:aza:jpss00:y:2014:v:8:i:2:p:172-187
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    More about this item

    Keywords

    financial market infrastructure; Bank of Japan Financial Network System; real-time gross settlement; designated-time net settlement; delivery versus payment; Straight-Through Processing;
    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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