Retail Payments : A Practical Guide for Measuring Retail Payment Costs
Retail payment systems play an important role in the smooth functioning of an economy and inefficiencies in the retail payments market can have cascading effects throughout the economy. While there are a number of issues that are responsible for th...
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| Language: | English en_US |
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/255851482286959215/Retail-payments-a-practical-guide-for-measuring-retail-payment-costs http://hdl.handle.net/10986/25861 |
| Summary: | Retail payment systems play an important
role in the smooth functioning of an economy and
inefficiencies in the retail payments market can have
cascading effects throughout the economy. While there are a
number of issues that are responsible for the persistence of
inefficiencies in retail payment markets, the lack of a
coherent, holistic strategy for the development of retail
payment systems is among the most common. In order to
develop such a strategy, it is important to economically
substantiate the migration from less cost-efficient retail
payment instruments (typically cash and paper-based
instruments) to more cost-efficient ones (typically
electronic payments). Overall, establishing a sound economic
baseline for national retail payment systems in terms of
costs of different payment instruments can better guide
system development and enable high-impact changes. This
document is designed to serve as a practical guide for
central banks and other public or private-sector
stakeholders interested in conducting a study on the costs
of day-to-day retail payments in their economies. The
results of a cost study based on this methodology can help
decision makers to agree on the targeted gains in efficiency
in their retail payments system, define an implementation
plan for achieving a desired future mix of payment
instruments, and provide information for all stakeholders
involved in the retail payments market. |
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