Future of payments: a new generation of payments takes shape (virtual registration)

Advancements in technology have instigated a period of remarkably rapid change in the payments industry. The official sector has made the delivery of quick, cheap, secure and transparent cross-border payments a priority and a whole host of potential solutions are taking shape across both the public and the private sector – with some of the most fruitful work emerging from the intersection of the two.

This shift in technology is likely to bring about geopolitical developments. While the dollar’s status as the most important reserve currency is likely unassailable, trading blocs might develop new technical infrastructure to reduce their reliance on the dollar and on western-owned payments systems.

OMFIF is excited to present our latest Future of payments report, featuring an extensive survey of central banks uncovering their beliefs about cross-border payments and the various solutions being proposed.

The report will cover:
• Multi-currency CBDC platforms
• Tokenisation of money – public and private
• The interlinking of fast payment systems
• Open Banking
• Upgrading the correspondent banking model