Regulating and Overseeing Mobile Payments: A Payment Systems Perspective

The Payment System Development Group is at the center of an international network, whose main objective is supporting countries to reform Payments, Remittances and Securities Settlement Systems. A wide range of payment instruments is essential for supporting customers' needs in a market economy (both domestic and cross-border, e.g. remittances) and a less than optimal supply of payment instruments may ultimately have an impact on economic development and growth and the safe and efficient use of money as a medium of exchange in retail transactions is particularly important for the stability of the currency and a foundation of the trust people have in it.