Payments Benchmarks 2024 – executive summary
Benchmarks shed light on payments governance, new technology and attitudes to crypto
Payments innovation continues at pace. Central banks face the challenge of keeping abreast of technological change, not just in upgrading their own systems but also in ensuring that supervisory frameworks and their legal backing is up to scratch.
New questions added to the Payments Benchmarks 2024 highlight how central banks see benefits in emerging technology. Nearly three-quarters of respondents think the opportunities from tokenisation outweigh the challenges the technology poses
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Non-banks in RTGSs: greater efficiency or more risk?
Policy-makers and practitioners from central banks in Brazil, Hungary, Israel, Romania, Rwanda and the US share their perspectives
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But central banks identify opportunities in cross border payments integration
Banks are main instant payments participants
Email address is central banks’ least-used payment channel
Two in five RTGS systems experienced outage last year
Majority of central banks plan technology upgrade within a year
Around two-fifths of central banks planning instant payments
Central banks processed instant transactions with average value of over $124 billion in 2023
Most central banks resistant to crypto in retail payments
Just six central banks are open to retail payments being facilitated by digital assets like bitcoin