Imagining an open future for payments
Examining current global trends and leveraging our experience at the forefront of payments to help foster an innovative, open, and resilient global payments ecosystem.
Pillar Overview
Today’s consumers expect efficiency and ease in all their interactions, especially when making a purchase. Methods of moving money are evolving to keep pace with evolving consumer expectations. Trust, security, and reliability are fundamental to payments, and must be cornerstones of new innovations.
There are significant opportunities for the public and private sectors to work together to maintain the global ecosystem and continually improve capabilities that enable individuals, businesses, and economies to thrive.
The rise of digital remittances: How innovation is improving global money movement
Remittances are monetary lifelines sent by migrant workers back home. They are born of sacrifice and separation, and they are crucial for hundreds of millions of families and for many countries that depend on them. This paper examines remittance trends, takes a look at the advantages of digital remittances, and offers recommendations for continuing to improve global money movement for everyone, everywhere.
Finding a secure solution for offline use of central bank digital currencies
Central banks want to make CBDC offline payments work. This paper provides a technical answer to these questions and does it in a secure and compliant manner.
What’s going on with remittances?
Remittances are hugely important for many countries and millions of families around the globe, and the pandemic is expected to negatively affect these flows. This short note takes a look at these issues and highlights that a jobs recovery and a continued focus on money movement efficiency will be key to remittance recovery.
Imagining an open future for payments: Imperatives for a recovery
Policymakers can work with the private sector to foster an innovative, open, and resilient payments ecosystem. Our work will take stock of the payments landscape and the trajectory of innovation, including the profound changes introduced by the COVID-19 pandemic, and set forth future areas of exploration with policymakers.
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Please reach out and connect with us on our research. We look forward to hearing from you.
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