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Fast Retail Payment Systems

Author

Listed:
  • Stephanie Bolt

    (Reserve Bank of Australia)

  • David Emery

    (Reserve Bank of Australia)

  • Paul Harrigan

    (Reserve Bank of Australia)

Abstract

In December 2014, a group of Australian financial institutions announced that funding had been secured for the next phase of the New Payments Platform (NPP), which will provide the capability for Australian consumers and businesses to make and receive payments in near to real time. The NPP is one example of a fast retail payment system, a number of which have been implemented in other countries in recent years. This article provides an overview of some of the features of fast payment systems and discusses the approach taken in the design of the NPP.

Suggested Citation

  • Stephanie Bolt & David Emery & Paul Harrigan, 2014. "Fast Retail Payment Systems," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 43-52, December.
    • Handle: RePEc:rba:rbabul:dec2014-06
    as

    Download full text from publisher

    File URL: https://www.rba.gov.au/publications/bulletin/2014/dec/pdf/bu-1214-6.pdf
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    References listed on IDEAS

    as
    1. Asian Development Bank (ADB), 2012. "ADB Cooperation with Civil Society Annual Report 2010," ADB Reports RPT124429, Asian Development Bank (ADB), revised 18 Apr 2014.
    2. Asian Development Bank (ADB), 2014. "Office of the Ombudsperson 2012 Annual Report," ADB Reports RPT135711, Asian Development Bank (ADB).
    3. World Bank, 2014. "The World Bank Annual Report 2014 [Informe anual 2014 del Banco Mundial]," World Bank Publications - Books, The World Bank Group, number 20093, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Choi, Hyung Sun, 2019. "Money, debit card, gross-settlement risk, and central banking," The North American Journal of Economics and Finance, Elsevier, vol. 50(C).

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