"Journal of Payments Strategy and Systems provides a host of useful, actionable and informative articles and papers that demonstrate the extraordinary opportunities for improving the payments systems. These are written by subject matter experts: corporate practitioners; consultants; bankers; vendors and scholars. The variety of the topics and the points of view make this a must read, even for those who think they know all there is to know about payments."
Rethinking the future of payments
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Abstract
As more nations implement immediate payment systems, the industry has an opportunity to make payments not only faster, but safer and more useful. Tokenisation of payment credentials, credit-only transactions, imposition of robust access security, real-time anti-fraud/antimoney laundering/sanctions screening and network activity monitoring are ways to make any payment system safer. There is a continuum of choices that balance settlement risk with cost and complexity. Internet and mobile connectivity support rich, timely, flexible messaging. Combined, these factors provide an opportunity to build an unprecedented platform for payments
innovation.
Keywords:
payments improvement, immediate payments, safer payments, settlement, real-time messaging, payments innovation