Central Banking

Central banks urged to increase monitoring of retail payment innovation


Central banks may need to "step up efforts" in collecting statistical data and conducting analytical research to monitor and assess new developments in retail payments, according to Innovations in retail payments, a new report issued by the Committee on Payment and Settlement Systems (CPSS) of the Bank for International Settlements.

While the report said "only a few innovations have so far had a significant effect on the markets", and most innovation remains at a domestic level aimed at speeding

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