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Innovations in Retail Payments as a Challenge for Central Banks (Innowacje w platnosciach detalicznych jako wyzwanie dla bankow centralnych)

Author

Listed:
  • Anna Iwanczuk-Kaliska

    (Uniwersytet Ekonomiczny w Poznaniu, Katedra Pieniadza i Bankowosci)

Abstract

The purpose of this article is to assess the importance of innovations in retail payments for central banks as the institutions responsible for stability and efficiency of national payment systems. The analysis is based on the information contained in the literature, reports of the Bank for International Settlements and the results of a survey conducted by the author in 2013 among central banks of 11 countries. The article defines what constitutes innovations in payments, as well as refers to them as the object of interest of central banks. This is followed by a short description of forms of central banks’ interference in the organization and regulation of retail payment processes. It attempts to answer the question whether and why innovations in payments pose a challenge for central banks, and how they may affect the implementation of their tasks.

Suggested Citation

  • Anna Iwanczuk-Kaliska, 2015. "Innovations in Retail Payments as a Challenge for Central Banks (Innowacje w platnosciach detalicznych jako wyzwanie dla bankow centralnych)," Problemy Zarzadzania, University of Warsaw, Faculty of Management, vol. 13(54), pages 41-53.
    • Handle: RePEc:sgm:pzwzuw:v:13:i:54:y:2015:p:41-53
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    References listed on IDEAS

    as
    1. James Chapman, 2008. "Policy Coordination in an International Payment System," Staff Working Papers 08-17, Bank of Canada.
    2. Thomas M. Hoenig, 2007. "Central bank perspective on nonbanks in the payments system," TEN, Federal Reserve Bank of Kansas City, issue Sum, pages 1-5.
    3. Beau, D. & Woelfel, G., 2004. "The resilience of post market infrastructures and payment systems Initiatives and perspectives," Financial Stability Review, Banque de France, issue 5, pages 107-113, November.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    innovations; payment system; payment services; central bank;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General

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