This paper presents the findings derived from a comprehensive survey conducted by the Central Bank of Malta, in collaboration with the National Statistics Office, with the aim of analysing payment habits in Malta. The research explores individuals' perspectives on various aspects, including...

The COVID-19 pandemic has precipitated several challenges, prompting the Indonesian government to enact rules aimed at minimizing direct contact to mitigate the spread of COVID-19, which has also affected transactional activities. Transactions conducted using a digital wallet represent a...

This study investigates the factors that affect the adoption of mobile payment systems in Oman, focusing specifically on small and medium-sized enterprises (SMEs) within the expanding FinTech landscape. By utilizing secondary sources of data from the Central Bank of Oman and global FinTech...

The adoption of electronic payments has increased globally, driving economic growth by enabling smoother transactions. Digital payments enhance speed, security, trust, and efficiency, prompting governments to implement policies that promote financial inclusion through new payment technologies....

This paper provides a targeted analysis of ML/TF risks pertaining to remittances to Samoa, confirming limited risks, and discusses potential opportunities for streamlining applicable AML/CFT requirements to operationalize regional remittances risk assessments. Over the past decade, Samoa has...

This paper takes stock of developments and policy issues related to digital payments innovations across sub-Saharan African (SSA), including central bank digital currency (CBDC), fast payments systems (FPS), mobile money, and crypto assets, which are now at the forefront of policymakers'...

Policymakers in many countries aim to increase the uptake of retail digital payment systems. This Note examines whether interoperability can help achieve this goal. We provide a conceptual framework that explains how interoperability can support the adoption of digital payments by increasing...

This document is a study performed by the JRC to support an analysis of DG-Competition concerning online payment systems. The report provides a high-level overview of online payments in the EU, including payment cards, mobile wallets, bank transfers, and other methods, as well as an examination...

Digital payments have increasingly been adopted by consumers and firms in Latin America and the Caribbean. This policy research paper analyzes recent post-pandemic data on digital payments in the region to describe adoption patterns, measure adoption gaps, and identify adoption barriers. The...

When paying with a payment instrument in fiat currency within the EU, the transaction is covered by the PSD2, which provides prudent protection for payers and their payment instruments. When the transaction is instead executed in bitcoin, an unbacked crypto-asset, the transaction is not covered...

Convenience and security are the two key attributes that consumers consider when choosing between payment technologies. We examine how consumers react to an exogenous change to the convenience and security of digital payments. We study an increase in the 'tap-and-go' limit for contactless...

This paper explores the current use of crypto-assets for payments, focusing mostly on unbacked crypto-assets, while selectively referring to stablecoins. Although some specific characteristics of crypto-assets, such as their price volatility and unclear legal settlement, render them unsuitable...

Most countries in Latin America and the Caribbean are implementing fast payment systems (FPS), often with the goal of enhancing access to and use of affordable financial services. FPS offer immediate transfer of funds on a 24x7 basis between end users. This paper assesses how FPS can promote...

Between 2012 and 2024, Poland-once a laggard in cashless payments among EU countries-underwent a profound transformation. The per capita number of cashless transactions at physical points of sale increased more than eightfold, rising from approximately 30 to over 250 per year, surpassing the EU...

Purpose - This study was conducted to understand the potential of cashless subsidy to reduce illegal underground economy activity in Indonesia. Research methodology - The research was done through a qualitative approach then analyzed based on the content analysis and sentiment analysis using...

The study aims to uncover the factors driving the increased use of digital payments during the pandemic and provide insights into the evolution of India's payment ecosystem with sustainable development goals.Utilizing a bibliometric analysis framework, the study examines a dataset of 418 papers...

The new era of FinTech services enabled the financial sector to benefit from innovative and cost-effective products via process automation, fostering a foundation for more sustainable business growth. Despite considerable research, the determinants of FinTech services adoption by businesses...

This study examines how financial sector development mediates the relationship between digital payments and money laundering. The current study relies on a sample of 120 countries, including both developed and developing economies, for the years 2014, 2017, and 2021. The findings reveal that...

This study extends the technology acceptance model (TAM) to identify factors impacting the ongoing use of electronic payment (e-payment) systems in Bangladesh in order to create a cashless society.Data were acquired from 442 Bangladeshi e-payment consumers. Structural equation modeling (SEM) and...

Instant payment systems have rapidly gained global traction by enhancing transaction efficiency, yet evidence remains limited on how their designparticularly interoperabilityshapes market structure. We exploit Perus 2023 interoperability mandate as a quasi-natural experiment using a...

The use of electronic currency for transactions, denoting a cashless paradigm, has become increasingly common. However, this financial innovation is not prevalent in all countries. This study aims to explain the discrepancies across countries, including individual and country factors. It may be...

In late 2021 and early 2022, CEMLA conducted a thorough survey involving 12 central banks to analyze key aspects related to the potential implementation of a Central Bank Digital Currency (CBDC). The findings revealed prevalent issues and objectives regarding digital payments in the region, as...