![]() Technical and financial assistance for implementation of specific payment system components such as Automated Clearinghouses (ACH), Real Time Gross Settlement (RTGS) Systems, Fast Payment Systems (FPS), Central Security Depositories (CSD), Securities Settlement Systems (SSS).The formulation of international standards related to payment systems, alongside other standard setting bodies.The establishment of appropriate institutional arrangements for central banks / other regulators for steering National Payments System (NPS) development.The development of Payments Systems Strategies and formulation of reforms.Over the last two decades, the WBG has contributed to the global payment systems knowledge agenda and has supported payment systems reforms in over 120 countries through: The work of the WBG on these topics span development of legal/regulatory framework, large value payment systems,securities settlement, foreign exchange settlement, retail payment systems, government payments, cross-border payments, oversight and cooperation, as well as the latest developments in fintech notably crypto, central bank digital currency, and open banking. Given this, promoting safe, reliable, and efficient domestic and cross-border payments systems, and FMIs is an integral component of the World Bank Group’s (WBG) work to reduce poverty and boost shared prosperity. Payment systems, Financial Market Infrastructures (FMIs) and digital financial services (DFS) help expand financial inclusion, foster economic development, enable digital economy, and support financial stability.
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