The future of payments is here.

Payments are being utterly transformed by new technology. The way we pay for goods and services has evolved constantly over the past 50 years. Service providers such as Visa and Mastercard became a feature of daily life.  We discovered PayPal, Apple Pay and Alipay, and then found that our mobile phones were all we needed to shop. As the means of payment changed, whole infrastructures adapted and developed around them.

Fintechs are injecting greater innovation, collaboration and competition into the payments arena and broader financial services. The advent of digital currencies has spurred a wave of research from governments and central banks.  There is much potential for profound changes in how central banks can promote better speed, security and access to payments.

The pace of change in payments today is unprecedented.  This report examines how the future of payments will look, and surveys central banks’ and regulators’ opinions as to the challenges and opportunities they face.

Insights for the future from across the payments industry

This is a landmark report from OMFIF (Official Monetary & Financial Institutions Forum) DMI (Digital Monetary Institute), a high-level group which convenes policy-makers, technologists, financiers and regulators to explore the challenges and opportunities of digital finance. The report builds on OMFIF fields research and survey work and pulls in contributions and perspectives from Algorand, Citi, Cypherium, GrabPay, Mastercard, Novi (from Facebook), PayPal and SWIFT.

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THE FUTURE OF GLOBAL PAYMENTS IS BROUGHT TO YOU BY

OMFIF-Hubspot

 

OMFIF

OMFIF - the Official Monetary and Financial Institutions Forum - is an independent think tank for central banking, economic policy and public investment. A neutral platform for best practice in worldwide public-private sector exchanges. Through OMFIF's Digital Monetary Institute, policy-makers, technologists, financiers and regulators convene to explore the challenges and opportunities of digital finance.
 

 

DMI

The OMFIF Digital Monetary
Institute (DMI) is a high-level group
which convenes policy-makers,
technologists, financiers and
regulators to explore the challenges
and opportunities of digital finance.
The principal focus is on
payments instruments in wholesale
and retail markets, with central bank
digital currency being of particular
interest.
 

 

Algorand Inc.

Algorand Inc. built the world's first open-source,  pure proof-of-stake blockchain protocol for the next generation of financial products. The brainchild of Turing Award-winning cryptographer Silvio Micali. Algorand is dedicated to removing friction from financial exchange, powering the DeFi evolution by enabling the creation and exchange of value, building new financial tools and services, bringing assets on-chain, and providing responsible privacy models.
 
 
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