Central banks must collaborate to tackle payment ‘shortcomings’, says Cœuré
Matching up disparate systems is challenging but central banks can catalyse change, BIS official says
Central banks need to work together to tackle “shortcomings” in the global payments system, Benoît Cœuré said on September 25.
The head of the Bank for International Settlements Innovation Hub said low-income and vulnerable groups still face barriers to payments, and costs remain high in the “retail segment”.
However, a challenge is designing interoperable systems that allow smooth global payments when countries have varied consumer habits, and different levels of development in their payment
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