Payment rail: Difference between revisions
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*[[Infrastructure]] | *[[Infrastructure]] | ||
*[[Liquidity]] | *[[Liquidity]] | ||
* [[National Electronic Funds Transfer]] (NEFT) | |||
*[[New Payments Platform]] (NPP) | *[[New Payments Platform]] (NPP) | ||
* [[Pan-African Payment and Settlement System]] (PAPSS) | * [[Pan-African Payment and Settlement System]] (PAPSS) | ||
Latest revision as of 23:44, 1 November 2024
Cash management - liquidity - financial markets - infrastructure - remittances.
A payment rail is an infrastructure that supports and enables remittances and settlement.
- Rails coexistence and interaction will optimise solutions
- "Currently, payment rails are predicated upon a centralized model.
- Furthermore, new, transformative rails - such as the Real-Time Payments (RTP®) network in the US, Australia’s New Payments Platform (NPP) and the Faster Payments network in the UK - are restricted in terms of the value that can be transferred.
- This is an issue for wholesale payments in particular, where values significantly exceed such ceilings...
- ... we believe that no one initiative or technology is a silver bullet for delivering optimized payments—nor is there one path that will take us there.
- It is a combination of capabilities that will enable payments and settlements to be truly optimized.
- Going forward, the industry will see coexistence and interaction between traditional rails, the more established emerging technologies and the new landscape of digital currencies.
- Digital tokens and fiat money will coexist, with different rails and channels remaining relevant, supporting different payment needs and delivering value."
- Innovation in Payments - A spotlight on digital currencies - BNY Mellon, 2021 - p4 & 11.
See also
- Cash management
- Clearing House Automated Payment System (CHAPS)
- Committee on Payments and Market Infrastructures (CPMI)
- Continuous linked settlement (CLS)
- Digital currency
- Digital token
- Faster Payments Service (FPS)
- Fiat money
- Financial markets
- Financial Market Infrastructure (FMI)
- Immediate Payment Service (IMPS)
- Infrastructure
- Liquidity
- National Electronic Funds Transfer (NEFT)
- New Payments Platform (NPP)
- Pan-African Payment and Settlement System (PAPSS)
- Payment
- Payment infrastructure
- Platform
- Real-time Payments (RTP)
- Regulation
- Remittance
- Supervision
- Systemic risk
- Systemically Important Payment System (SIPS)
