Worldwide, the most common model is for payment systems to charge variable fees, an approach that is particularly common in emerging market economies. In some cases, central banks charge based on the volume of payment requests. Some charge a flat annual fee and then variable charges per transaction.
Two central banks that responded to the benchmark said they do not charge any fees for use of the real-time gross settlement system.
For the full breakdown, use the benchmarking service’s interactive charts to explore the data.
Payments are undergoing rapid technological change, creating opportunities – and challenges
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
RTGS systems are used free of charge in one-tenth of jurisdictions
Median value of payments rose by $15bn from the previous benchmark
Majority of central banks increased payments system divisions budgets in the past year
Respondents identify shortage of human capital, capacity building and dated technology as concerns
Maximum number of institutions reported to have access to one RTGS system was 233
Payment system laws contain oversight powers in two-thirds of jurisdictions
Most central banks help price RTGS services and many do for credit transfers and direct debits
Most central banks experienced a high-value payment system outage in the last year
Majority of central banks uphold plans to transition by 2025
Central banks feel negatively about retail digital currencies in their payment systems