Fed study finds there are no truly offline payment systems

Hybrid solutions mitigate some risks, say researchers

Faster payments

Hybrid payments systems may provide the greatest offline access, argues a new study from the US Federal Reserve Board. However, the authors find no evidence of fully offline digital payment systems in operation today.

The study, published on August 16, says that recent outages, such as those at Visa and Fiserv, have supported the case that offline payments help to bolster systems’ resilience. Moreover, internet availability is uneven in the US and across the globe, which suggests offline payments

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