Project Management

Payments Business 3S Approach

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Executive Summary

Payment is the life-blood of any economy. The primary objective of any payment system is to enable the circulation of funds. Without a robust infrastructure enabling smooth flow of funds, financial institutions can rarely assume the role of a financial intermediary in the economy. Payment systems have encountered many challenges and are constantly adapting to the rapidly changing payments landscape. More recently, the proliferation of electronic payment mechanisms and advent of alternate payment systems coupled with risk elements in the payments process have focused attention on public policy issues related to the organization and operation of payment systems. Payments Market, across geographies is witnessing a drive to achieve 3S objectives - Speed, Security and Standards.

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