Central Banking

Fed's Kroszner on the future of payments

In the speech 'The future of payments: Challenges and opportunities' given on 10 May Randall Kroszner of the Federal Reserve said the rapid switch by consumers and businesses to electronic banking poses a new tradeoff between security and convenience.

"There is often a basic tradeoff between security and convenience: the easier a system is to use and access, the less secure it tends to be," Kroszner told a payments system conference at the Federal Reserve Bank of Chicago.

Kroszner said regulators

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