Payment rail: Difference between revisions
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imported>Doug Williamson (Create page - source - BNY - https://www.bnymellon.com/content/dam/bnymellon/documents/pdf/insights/a-spotlight-on-digital-currencies.pdf) |
imported>Doug Williamson (Add abbreviation.) |
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Rails coexistence and interaction will optimise solutions | :<span style="color:#4B0082">'''''Rails coexistence and interaction will optimise solutions'''''</span> | ||
:"Currently, payment rails are predicated upon a centralized model. | :"Currently, payment rails are predicated upon a centralized model. | ||
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== See also == | == See also == | ||
*[[Cash management]] | *[[Cash management]] | ||
*[[Clearing House Automated Payment System]] | *[[Clearing House Automated Payment System]] (CHAPS) | ||
*[[Committee on Payments and Market Infrastructures]] (CPMI) | *[[Committee on Payments and Market Infrastructures]] (CPMI) | ||
*[[Continuous linked settlement]] (CLS) | *[[Continuous linked settlement]] (CLS) | ||
| Line 33: | Line 33: | ||
*[[Faster Payments Service]] (FPS) | *[[Faster Payments Service]] (FPS) | ||
*[[Fiat money]] | *[[Fiat money]] | ||
*[[Financial | *[[Financial markets]] | ||
*[[Financial Market Infrastructure]] (FMI) | *[[Financial Market Infrastructure]] (FMI) | ||
*[[Infrastructure]] | *[[Infrastructure]] | ||
Latest revision as of 19:46, 16 February 2023
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)
- Infrastructure
- Liquidity
- New Payments Platform (NPP)
- Payment
- Payment infrastructure
- Platform
- Real-time Payments (RTP)
- Regulation
- Remittance
- Supervision
- Systemic risk
- Systemically Important Payment System (SIPS)
