This paper analyses the role of layering in the architecture of money and payment systems and how recent technological … innovations affect it. Layering in payments, whereby payment ledgers are hierarchical to each other, and senior ledgers allow for … paper develops a framework to classify ledger hierarchies and types of payment ledgers and uses it to assess innovations …

collaboration with the National Statistics Office, with the aim of analysing payment habits in Malta. The research explores … individuals' perspectives on various aspects, including accessibility to different payment instruments, preferred methods for … conducting purchases, and perceptions of different payment instrument characteristics and new technologies such as contactless …

This article examines the EU-law challenges arising from the use of artificial intelligence for payment initiation and … execution (“Payment Agents”) under European Union law. It focuses on Payment Agents that support purchasing workflows and are … Payment Agents as agentic systems and develops three regulatory models: (i) a protocol-only model, (ii) a model based on the …

means of payment. One of the reasons for introducing a CBDC is a change in payment behavior towards an increasing use of … electronic forms of payment. This paper examines the introduction of a CBDC as a new means of payment. We conduct a controlled … payment such as cash and deposits. We use a 2x2 treatment design in which CBDCs differ in adoption costs and anonymity. We …