Nearly 30% of central banks implementing instant payments
Over half of respondents already oversee or operate instant payments
Nearly 30% of central banks are planning to implement an instant retail payments system in the next three years, benchmarking data shows.
Of the 38 respondents to this question, just over half (52.6%) already operate or oversee an instant payments system in their jurisdiction. A further 18.4% have plans to implement a system in 0–1 years, and 10.5% plan to implement a system in 2–3 years’ time.
The remaining 18.4% of respondents (seven central banks) say they have no plans to upgrade. However
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Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
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Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark
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Majority of central banks increased payments system divisions budgets in the past year
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Respondents identify shortage of human capital, capacity building and dated technology as concerns
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Maximum number of institutions reported to have access to one RTGS system was 233
Most central banks have payment and settlement supervision mandates
Payment system laws contain oversight powers in two-thirds of jurisdictions