Innovations in Payments
16 Pages Posted: 27 Mar 2020
Date Written: March 1, 2020
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: Suggested Citation