From Remittances to M-Payments

Retail payment systems play an important role in the smooth functioning of any economy, and thus any inefficiency in the retail payments market can send negative effects cascading throughout the financial realm. The World Bank Global Payment Systems Survey 2010 has shown that inefficiencies persist in the payment systems of many middle-income and low-income countries, with cash continuing to be the most widely used instrument for small-value payments. A number of issues are responsible for this pattern, and the lack of a coherent, holistic strategy for the development of retail payment systems is among the most common. The lessons learned during more than a decade of World Bank Group technical assistance, along with the research findings of other international and national agencies, have been merged into a comprehensive package for the development and reform of the national retail payments system: a) developing a comprehensive national retail payments strategy aims to provide public authorities and market participants with detailed guidance on how to develop and implement a comprehensive, strategic retail payments reform ; b) a practical guide for retail payments stocktaking identifies a methodology for undertaking a detailed stocktaking of a countrys retail payments landscape; c) from remittances to m-payments: Understanding alternative means of payment within the common framework of retail payments system regulation explores the development of a normative framework to underpin an efficient retail payments industry, including the so-called innovative payment mechanisms; and d) innovations in retail payments worldwide: a snapshot: outcomes of the global survey on innovations in retail payments instruments and methods 2010 presents the results of the first World Bank survey among central banks that collected information on innovative retail payment products and programs.

Bibliographic Details

Main Author:	World Bank
Format:	Working Paper biblioteca
Language:	English en_US
Published:	Washington, DC 2012-10
Subjects:	ACCESS TO PAYMENT SYSTEMS, ANTI-MONEY LAUNDERING, ATM, AUTHORIZATION, AUTONOMY, BANK ACCOUNTS, BANK BRANCHES, BANK DEPOSIT, BANK POLICY, BANK TRANSFER, BANKING INSTITUTIONS, BANKING SECTOR, BANKING SERVICES, BLACK MARKET, BRANCHLESS BANKING, BUSINESS ACTIVITIES, BUSINESS ENVIRONMENT, BUSINESS MODEL, BUSINESS MODELS, BUSINESS OF ELECTRONIC MONEY, BUSINESS PERSPECTIVES, BUSINESS PLAN, BUSINESS SECTOR, BUYER, CAPITAL REQUIREMENTS, CASHLESS SYSTEM, CENTRAL BANKS, CIVIL LAW, CLOSED NETWORKS, COLLATERALIZATION, COMMUNICATION NETWORKS, COMMUNICATION SERVICES, COMMUNICATION TECHNOLOGIES, COMMUNICATIONS NETWORK, COMPARABLE GUARANTEE, COMPETITIVENESS, COMPUTERS, CONSUMER PROTECTION, CONTRACTUAL RELATIONSHIP, COPYRIGHT, COST-EFFECTIVENESS, CREDIT CARD, CREDIT CARDS, CREDIT INSTITUTION, CREDIT INSTITUTIONS, CREDIT LINE, CREDIT LINES, CREDITORS, CURRENT ACCOUNTS, CUSTODY, CUSTODY SERVICES, DEPOSIT, DEPOSITS, DIGITAL DEVICES, DURABLE, E-MAIL, E-MONEY, ECONOMIC ACTIVITY, ELECTRONIC DEVICE, ELECTRONIC MONEY INSTITUTION, ELECTRONIC MONEY INSTITUTIONS, ELECTRONIC PAYMENTS, EMERGING ECONOMIES, END-USERS, EUROPEAN CENTRAL BANK, FINAL SETTLEMENT, FINANCIAL AUTHORITIES, FINANCIAL ENTITIES, FINANCIAL INFRASTRUCTURE, FINANCIAL INSTITUTION, FINANCIAL INSTITUTIONS, FINANCIAL PERFORMANCE, FINANCIAL SERVICE, FINANCIAL SERVICE PROVIDERS, FINANCIAL SERVICES, FINANCIAL SYSTEM, FOREIGN CURRENCY, GLOBAL BANKS, GLOBAL PAYMENT, HOLDING, IDENTIFICATION, INDIVIDUAL TRANSACTIONS, INNOVATION, INNOVATIONS, INSTITUTIONAL DEVELOPMENT, INSURANCE, INSURANCE POLICY, INTERNAL CONTROL, INTERNAL CONTROLS, INTERNATIONAL BANK, INTERNATIONAL LAW, INTEROPERABILITY, ISSUANCE, ISSUERS, LEGAL FRAMEWORK, LEGAL PROTECTION, LEGAL STATUS, LEGAL SYSTEM, LEGISLATION, LEVEL PLAYING FIELD, LIABILITY, LICENSE, LICENSES, LIQUIDITY, LIQUIDITY RISK, MARKET COMPETITION, MARKET PARTICIPANTS, MARKET STRUCTURE, MATERIAL, MINISTRIES OF FINANCE, MOBILE BANKING, MOBILE NETWORK, MOBILE PHONE, MOBILE PHONES, MONETARY POLICY, MONEY TRANSFER, MONEY TRANSFERS, NETWORKS, NEW ENTRANTS, NEW TECHNOLOGIES, NUMBER OF USERS, OLIGOPOLIES, OPEN ACCOUNTS, OPEN ECONOMY, OPERATIONAL EFFICIENCY, OPERATIONAL FUNCTION, OPERATIONAL FUNCTIONS, OPERATIONAL RISK, OUTSOURCING, PAYMENT CARDS, PAYMENT INSTRUMENT, PAYMENT INSTRUMENTS, PAYMENT MECHANISMS, PAYMENT PRODUCTS, PAYMENT SERVICE, PAYMENT SERVICES, PAYMENT SYSTEM, PAYMENT SYSTEMS, PAYMENT TRANSACTION, PAYMENT TRANSACTIONS, PAYMENTS INFRASTRUCTURE, PAYMENTS INSTRUMENTS, PAYMENTS SERVICE, PAYMENTS SERVICES, PAYMENTS SYSTEM, PAYPAL, PERFORMANCES, PHYSICAL ACCESS, POS, POST OFFICE, POST OFFICES, PREPAID CARDS, PRIVATE SECTOR, PRIVATE SECTOR DEVELOPMENT, PRUDENTIAL REQUIREMENTS, PRUDENTIAL SUPERVISION, PUBLIC POLICY, QUERIES, REAL TIME SETTLEMENT, REGISTRY, REGULATORY CONSTRAINTS, REGULATORY ENVIRONMENT, REGULATORY FRAMEWORK, REMITTANCE, REMITTANCE SERVICE, REMITTANCE SERVICES, REMITTANCES, RESULT, RESULTS, RETAIL MARKET, RETAIL PAYMENT, RETAIL PAYMENT SYSTEM, RETAIL PAYMENT SYSTEMS, RETAIL PAYMENTS, RISK ASSESSMENT, RISK EXPOSURES, RISK MANAGEMENT, SEARCH, SEARCH FACILITIES, SEGREGATION, SERVER, SERVICE PROVIDER, SETTLEMENT INFRASTRUCTURE, SETTLEMENT OF TRANSACTIONS, SETTLEMENT SYSTEMS, SMALL BUSINESS, SUBSIDIARY, SUPERMARKETS, SUPERVISION, SYSTEMIC RISK, TECHNICAL ASSISTANCE, TECHNOLOGY-NEUTRAL, TELECOM, TELECOMMUNICATION, TELECOMMUNICATION NETWORK, TELECOMMUNICATIONS, TELEPHONE, THIRD PARTIES, TRACEABILITY, TRADITIONAL BANKING, TRANSFER OF INFORMATION, TRANSPARENCY, TURNOVER, USER, USER RELATIONSHIP, VALUE CHAIN, VERIFICATION, WITHDRAWAL,
Online Access:	http://documents.worldbank.org/curated/en/2015/05/18821506/remittances-m-payments-understanding-alternative-means-payment-within-common-framework-retail-payments-system-regulation https://hdl.handle.net/10986/22121
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