World Bank2015-07-072015-07-072012-10https://hdl.handle.net/10986/22121Retail 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.en-USCC BY 3.0 IGOACCESS TO PAYMENT SYSTEMSANTI-MONEY LAUNDERINGATMAUTHORIZATIONAUTONOMYBANK ACCOUNTSBANK BRANCHESBANK DEPOSITBANK POLICYBANK TRANSFERBANKING INSTITUTIONSBANKING SECTORBANKING SERVICESBLACK MARKETBRANCHLESS BANKINGBUSINESS ACTIVITIESBUSINESS ENVIRONMENTBUSINESS MODELBUSINESS MODELSBUSINESS OF ELECTRONIC MONEYBUSINESS PERSPECTIVESBUSINESS PLANBUSINESS SECTORBUYERCAPITAL REQUIREMENTSCASHLESS SYSTEMCENTRAL BANKSCIVIL LAWCLOSED NETWORKSCOLLATERALIZATIONCOMMUNICATION NETWORKSCOMMUNICATION SERVICESCOMMUNICATION TECHNOLOGIESCOMMUNICATIONS NETWORKCOMPARABLE GUARANTEECOMPETITIVENESSCOMPUTERSCONSUMER PROTECTIONCONTRACTUAL RELATIONSHIPCOPYRIGHTCOST-EFFECTIVENESSCREDIT CARDCREDIT CARDSCREDIT INSTITUTIONCREDIT INSTITUTIONSCREDIT LINECREDIT LINESCREDITORSCURRENT ACCOUNTSCUSTODYCUSTODY SERVICESDEPOSITDEPOSITSDIGITAL DEVICESDURABLEE-MAILE-MONEYECONOMIC ACTIVITYELECTRONIC DEVICEELECTRONIC MONEY INSTITUTIONELECTRONIC MONEY INSTITUTIONSELECTRONIC PAYMENTSEMERGING ECONOMIESEND-USERSEUROPEAN CENTRAL BANKFINAL SETTLEMENTFINANCIAL AUTHORITIESFINANCIAL ENTITIESFINANCIAL INFRASTRUCTUREFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL PERFORMANCEFINANCIAL SERVICEFINANCIAL SERVICE PROVIDERSFINANCIAL SERVICESFINANCIAL SYSTEMFOREIGN CURRENCYGLOBAL BANKSGLOBAL PAYMENTHOLDINGIDENTIFICATIONINDIVIDUAL TRANSACTIONSINNOVATIONINNOVATIONSINSTITUTIONAL DEVELOPMENTINSURANCEINSURANCE POLICYINTERNAL CONTROLINTERNAL CONTROLSINTERNATIONAL BANKINTERNATIONAL LAWINTEROPERABILITYISSUANCEISSUERSLEGAL FRAMEWORKLEGAL PROTECTIONLEGAL STATUSLEGAL SYSTEMLEGISLATIONLEVEL PLAYING FIELDLIABILITYLICENSELICENSESLIQUIDITYLIQUIDITY RISKMARKET COMPETITIONMARKET PARTICIPANTSMARKET STRUCTUREMATERIALMINISTRIES OF FINANCEMOBILE BANKINGMOBILE NETWORKMOBILE PHONEMOBILE PHONESMONETARY POLICYMONEY TRANSFERMONEY TRANSFERSNETWORKSNEW ENTRANTSNEW TECHNOLOGIESNUMBER OF USERSOLIGOPOLIESOPEN ACCOUNTSOPEN ECONOMYOPERATIONAL EFFICIENCYOPERATIONAL FUNCTIONOPERATIONAL FUNCTIONSOPERATIONAL RISKOUTSOURCINGPAYMENT CARDSPAYMENT INSTRUMENTPAYMENT INSTRUMENTSPAYMENT MECHANISMSPAYMENT PRODUCTSPAYMENT SERVICEPAYMENT SERVICESPAYMENT SYSTEMPAYMENT SYSTEMSPAYMENT TRANSACTIONPAYMENT TRANSACTIONSPAYMENTS INFRASTRUCTUREPAYMENTS INSTRUMENTSPAYMENTS SERVICEPAYMENTS SERVICESPAYMENTS SYSTEMPAYPALPERFORMANCESPHYSICAL ACCESSPOSPOST OFFICEPOST OFFICESPREPAID CARDSPRIVATE SECTORPRIVATE SECTOR DEVELOPMENTPRUDENTIAL REQUIREMENTSPRUDENTIAL SUPERVISIONPUBLIC POLICYQUERIESREAL TIME SETTLEMENTREGISTRYREGULATORY CONSTRAINTSREGULATORY ENVIRONMENTREGULATORY FRAMEWORKREMITTANCEREMITTANCE SERVICEREMITTANCE SERVICESREMITTANCESRESULTRESULTSRETAIL MARKETRETAIL PAYMENTRETAIL PAYMENT SYSTEMRETAIL PAYMENT SYSTEMSRETAIL PAYMENTSRISK ASSESSMENTRISK EXPOSURESRISK MANAGEMENTSEARCHSEARCH FACILITIESSEGREGATIONSERVERSERVICE PROVIDERSETTLEMENT INFRASTRUCTURESETTLEMENT OF TRANSACTIONSSETTLEMENT SYSTEMSSMALL BUSINESSSUBSIDIARYSUPERMARKETSSUPERVISIONSYSTEMIC RISKTECHNICAL ASSISTANCETECHNOLOGY-NEUTRALTELECOMTELECOMMUNICATIONTELECOMMUNICATION NETWORKTELECOMMUNICATIONSTELEPHONETHIRD PARTIESTRACEABILITYTRADITIONAL BANKINGTRANSFER OF INFORMATIONTRANSPARENCYTURNOVERUSERUSER RELATIONSHIPVALUE CHAINVERIFICATIONWITHDRAWALWorking PaperWorld Bank10.1596/22121