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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Bibliographic Details
Main Author:	World Bank
Format:	Working Paper
Language:	English en_US
Published:	Washington, DC 2015
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 http://hdl.handle.net/10986/22121