Digital Payments: Real Time, 24/7, With Lower Costs

Abstract

This chapter reviews digital payment infrastructures at the retail, wholesale and cross-border levels, available operating and governance models and trade-offs. Various developments in the field of digital payments, key challenges and the role of the central banks in helping to address those challenges are introduced. This chapter starts by examining issues in retail payments, before moving on the wholesale and large-value payments, real-time gross settlement (RTGS) which is the core settlement of payment systems before examining cross-border payments. This chapter ends with an overview of the role of central banks in promoting digital payment infrastructures.

Citation

Moenjak, T. (2024), "Digital Payments: Real Time, 24/7, With Lower Costs", Central Banking at the Frontier, Emerald Publishing Limited, Leeds, pp. 201-223. https://doi.org/10.1108/978-1-83797-130-520241012