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

Payments have an important impact on the development of countries and economies, enabling an efficient exchange of goods and services. Electronic payments are a relatively new instrument which has evolved in different ways in particular countries of Europe. The following article focuses on presenting and comparing retail electronic payment systems, with special consideration given to card payments in three groups of European countries: countries of Western Europe, countries of Central and Eastern Europe, and the so-called “tigers of Europe”, namely Russia and Turkey. The analyzed groups of countries vary in terms of payments markets, and one of the areas with significant differences is the level of development of local payment schemes and national processors that are fundaments of local payment infrastructure and jointly with the infrastructure of international payment schemes allow for effective development of the payment system.