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Innovations in payments

Author

Listed:
  • Morten Linnemann Bech
  • Jenny Hancock

Abstract

Technological innovation is transforming payments. Domestic payments are increasingly convenient, instantaneous and available 24/7. However, shortcomings in access to payments and cross-border payments remain. Lack of access to payments is a problem in some emerging market and developing economies. Improving cross-border payments will require international coordination. Initiatives to improve cross-border payments would benefit from better data to quantify both the extent and the drivers of the problems.

Suggested Citation

  • Morten Linnemann Bech & Jenny Hancock, 2020. "Innovations in payments," BIS Quarterly Review, Bank for International Settlements, March.
    • Handle: RePEc:bis:bisqtr:2003f
    as

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    References listed on IDEAS

    as
    1. Morten Linnemann Bech & Yuuki Shimizu & Paul Wong, 2017. "The quest for speed in payments," BIS Quarterly Review, Bank for International Settlements, March.
    2. Morten Linnemann Bech & Jenny Hancock & Tara Rice & Amber Wadsworth, 2020. "On the future of securities settlement," BIS Quarterly Review, Bank for International Settlements, March.
    3. Iqbal, Kazi & Roy, Paritosh K. & Alam, Shamsul, 2020. "The impact of banking services on poverty: Evidence from sub-district level for Bangladesh," Journal of Asian Economics, Elsevier, vol. 66(C).
    4. Tara Rice & Goetz von Peter & Codruta Boar, 2020. "On the global retreat of correspondent banks," BIS Quarterly Review, Bank for International Settlements, March.
    5. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    6. Codruta Boar & Henry Holden & Amber Wadsworth, 2020. "Impending arrival - a sequel to the survey on central bank digital currency," BIS Papers, Bank for International Settlements, number 107.
    7. Morten Linnemann Bech & Umar Faruqui & Takeshi Shirakami, 2020. "Payments without borders," BIS Quarterly Review, Bank for International Settlements, March.
    8. Derryl D'Silva & Zuzana Filkova & Frank Packer & Siddharth Tiwari, 2019. "The design of digital financial infrastructure: lessons from India," BIS Papers, Bank for International Settlements, number 106.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Raphael Auer & Codruta Boar & Giulio Cornelli & Jon Frost & Henry Holden & Andreas Wehrli, 2021. "CBDCs beyond borders: results from a survey of central banks," BIS Papers, Bank for International Settlements, number 116.
    2. repec:bre:bebook:45816 is not listed on IDEAS
    3. Morten Linnemann Bech & Umar Faruqui & Takeshi Shirakami, 2020. "Payments without borders," BIS Quarterly Review, Bank for International Settlements, March.
    4. Morales-Resendiz, Raúl & Ponce, Jorge & Picardo, Pablo & Velasco, Andrés & Chen, Bobby & Sanz, León & Guiborg, Gabriela & Segendorff, Björn & Vasquez, José Luis & Arroyo, John & Aguirre, Illich & Hayn, 2021. "Implementing a retail CBDC: Lessons learned and key insights," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 2(1).
    5. Raphael Auer & Philipp Haene & Henry Holden, 2021. "Multi-CBDC arrangements and the future of cross-border payments," BIS Papers, Bank for International Settlements, number 115.
    6. Agustín Carstens, 2020. "Shaping the future of payments," BIS Quarterly Review, Bank for International Settlements, March.
    7. Tara Rice & Goetz von Peter & Codruta Boar, 2020. "On the global retreat of correspondent banks," BIS Quarterly Review, Bank for International Settlements, March.
    8. Max Fuchs, 2022. "CBDC as Competitor for Bank Deposits and Cryptocurrencies," MAGKS Papers on Economics 202210, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    9. Adrián Armas & Lucero Ruiz & José Luis Vásquez, 2022. "Assessing CBDC potential for developing payment systems and promoting financial inclusion in Peru," BIS Papers chapters, in: Bank for International Settlements (ed.), CBDCs in emerging market economies, volume 123, pages 131-151, Bank for International Settlements.
    10. Shalva Mkhatrishvili & Wim Boonstra, 2022. "What we know on Central Bank Digital Currencies (so far)," NBG Working Papers 01/2022, National Bank of Georgia.
    11. Dr. Robert Oleschak, 2021. "Financial inclusion, technology and their impacts on monetary and fiscal policy: theory and evidence," Working Papers 2021-04, Swiss National Bank.

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    More about this item

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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