From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation
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 System...
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| Format: | Working Paper |
| Language: | English en_US |
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Washington, DC
2015
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| 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 http://hdl.handle.net/10986/22121 |
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okr-10986-22121 |
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oai_dc |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
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-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 |
| spellingShingle |
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-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 World Bank From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| relation |
Financial infrastructure series; |
| description |
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. |
| format |
Working Paper |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| title_short |
From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| title_full |
From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| title_fullStr |
From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| title_full_unstemmed |
From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation |
| title_sort |
from remittances to m-payments : understanding 'alternative' means of payment within the common framework of retail payment system regulation |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/05/18821506/remittances-m-payments-understanding-alternative-means-payment-within-common-framework-retail-payments-system-regulation http://hdl.handle.net/10986/22121 |
| _version_ |
1764450260886749184 |
| spelling |
okr-10986-221212021-04-23T14:04:07Z From Remittances to M-Payments : Understanding 'Alternative' Means of Payment within the Common Framework of Retail Payment System Regulation World Bank 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 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. 2015-07-07T22:40:50Z 2015-07-07T22:40:50Z 2012-10 Working Paper http://documents.worldbank.org/curated/en/2015/05/18821506/remittances-m-payments-understanding-alternative-means-payment-within-common-framework-retail-payments-system-regulation http://hdl.handle.net/10986/22121 English en_US Financial infrastructure series; CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Washington, DC Publications & Research Publications & Research :: Working Paper |