Majority of retail payment systems lack real-time processing and settlement

Over half of RPSs in emerging market economies were owned by central banks

Retail payment systems are yet to embrace real-time processing, according to new data from Central Banking’s Payments Benchmarks 2021. 

Since the turn of the millennium, faster systems for both wholesale and retail payments have been developed at pace in both emerging and advanced economy markets. 

However, real-time processing and gross settlement is used more for large value payment systems and faster payment systems, according to new data. 

Within the benchmark, central banks were asked to

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