Technology in treasury management: Review of developments in payment systems 2010
Banks and regulators want a move to more cost-effective, attractive and easy-to-use payment systems. But the solutions they offer must also be attractive for consumers and businesses. By Jack and Wolfi Large.
Changes in payment system usage
Changes in the usage of payment systems usually happen very slowly, with the vast majority of payments now and for the foreseeable future remaining domestic. Even in Europe, where there are a large number of small countries, it is estimated only around 4% of payments are cross-border.
In terms of transactions, cash continues to dominate, used for considerably more than 60% of all transactions globally. In terms of value, however, non-cash payment systems, particularly in developed countries, now take more than 50%, though usage varies considerably by country.