This report presents a set of recommendations to improve the security of internet payments. These recommendations were developed by the European Forum on the Security of Retail Payments, SecuRe Pay (the "Forum"). The Forum was set up in 2011 as a voluntary cooperative initiative between...

On 25-26 May 2009 the European Central Bank and De Nederlandsche Bank hosted a conference entitled "Retail payments: integration and innovation". The aim of the conference was to better understand current developments in retail payment markets and to identify possible future trends by bringing...

This paper provides a structured overview of the burgeoning literature on the economics of CBDC. We document the economic forces that shape the rise of digital money and review motives for the issuance of CBDC. We then study the implications for the financial system and discuss of a number of...

U.S. consumers' demand for cash is estimated with new panel micro data for 2008-2010 using econometric methodology similar to Mulligan and Sala-i-Martin (2000), Attanasio, Guiso, and Jappelli (2002), and Lippi and Secchi (2009). We extend the Baumol-Tobin model to allow for credit card payments...

This report presents the key findings of a study conducted by the European Central Bank (ECB) on the payment attitudes of consumers in the euro area (SPACE) in 2024. It compares these findings with those of the previous SPACE studies (in 2019 and 2022) and, where relevant, with an earlier ECB...

Virtual communities have proliferated in recent years - a phenomenon triggered by technological developments and by the increased use of the internet. In some cases, these communities have created and circulated their own currency for exchanging the goods and services they offer, and thereby...

The digitalisation of payments has accelerated over the last decades with the internet and ever faster and cheaper computing. Now, many believe that decentralised finance ("DeFi") offers fundamentally new possibilities for trading, payments and settlement. Moreover, for a few years central banks...