Innovations in Payments

16 Pages Posted: 27 Mar 2020

See all articles by Morten L. Bech

Morten L. Bech

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Jenny Hancock

Bank for International Settlements (BIS)

Date Written: March 1, 2020

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.

JEL Classification: E42

Suggested Citation

Bech, Morten L. and Hancock, Jenny, Innovations in Payments (March 1, 2020). BIS Quarterly Review, March 2020, Available at SSRN: https://ssrn.com/abstract=3561180

Morten L. Bech (Contact Author)

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland
41612808923 (Phone)

Jenny Hancock

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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