Central Banking

Central banks must collaborate to tackle payment ‘shortcomings’, says Cœuré

Benoit Coeure
Benoît Cœuré
Photo: Mario Schmitt

Central banks need to work together to tackle “shortcomings” in the global payments system, Benoît Cœuré said on September 25.

The head of the Bank for International Settlements Innovation Hub said low-income and vulnerable groups still face barriers to payments, and costs remain high in the “retail segment”.

However, a challenge is designing interoperable systems that allow smooth global payments when countries have varied consumer habits, and different levels of development in their payment

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