RE: For information: BIS/CPMI report on fast payments

Thank you Adrian for your remarks. The usual procedure of such reports is that all contributing members have to verify their country information, that’s what the drafting team and BIS secretariat demand from their contributors. You’re right that positioning, pricing in particular, is a key factor for success. I guess the accelerating developments in several countries worldwide will eventually lead to fast retail payments being the new normal.

Jurgen

From: Adrian Hope-Bailie [mailto:adrian@hopebailie.com]
Sent: woensdag 9 november 2016 22:18
To: Spaanderman, J.J. (Jurgen) (BVU_MIB) <j.j.spaanderman@dnb.nl>
Cc: public-webpayments-ig@w3.org
Subject: Re: For information: BIS/CPMI report on fast payments

Thanks Jurgen!
For me the thing that stands out is the South African system. It has been in place for a decade and if you read that report you'd think all retail payments in South Africa are probably done in real time, but you'd be wrong.
For me the report illustrates how the technical solution is only halve of the challenge.

Real time clearing has been technically possible between the major banks for 10 years but the way it is priced and positioned relative to regular EFT (which clears in T+1) has meant that very few people use it and it certainly hasn't had the massive impact on innovation that the report suggest it should have.
For the majority of South Africans that wish to make a payment to someone or some company they'll use regular EFT (often free) and request that their sending bank send a proof of payment to the payee. For many payees this is sufficient proof that they can deliver goods or the like even if the funds have not cleared in their account yet.
I am also skeptical about the grid that suggests payees can be addressed by their mobile number. That is not interoperable between banks in SA. Each bank has a solution and if you send to an account holder at another bank they usually have to cash that out at the sending bank's ATM.

On 9 November 2016 at 14:32, j.j.spaanderman@dnb.nl<mailto:j.j.spaanderman@dnb.nl> <j.j.spaanderman@dnb.nl<mailto:j.j.spaanderman@dnb.nl>> wrote:
For your information: the BIS Committee on Payments and Market Infrastructure delivered a report on fast(er) payments, describing the central bankers view. See http://www.bis.org/press/p161108.htm


Best regards,
Jurgen




Jurgen Spaanderman
Senior Policy Adviser
[cid:1__=4EBBF473DFD433BF8f9e8a93df93869091@local]

Division
Cash and Payment Systems

Market Infrastructure Policy

T +31 20 524 5716<tel:%2B31%2020%20524%205716>
M +31 6 524 96653
E  Jurgen.Spaanderman@dnb.nl<mailto:Jurgen.Spaanderman@dnb.nl>

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De informatie verzonden met dit e-mailbericht is vertrouwelijk en uitsluitend bestemd voor de geadresseerde. Indien u als niet-geadresseerde dit bericht ontvangt, wordt u verzocht direct de afzender hierover te informeren en het bericht te vernietigen. Gebruik van informatie door onbevoegden, openbaarmaking of vermenigvuldiging is verboden en kan leiden tot aansprakelijkheid.

De afzender is niet aansprakelijk voor schade die verband houdt met risico's verbonden aan het elektronisch verzenden van berichten. De e-mails en eventueel bijgevoegde bestanden zijn volgens een standaardprocedure gecontroleerd op computervirussen. Deze controle kan aanwezigheid van malware, zoals virussen, echter niet geheel uitsluiten.

The information sent in or enclosed with this email is confidential and intended solely for the addressee. If you have received this email but are not the intended recipient, please notify the sender immediately and delete the message. Please be advised that the unauthorised use, disclosure, dissemination or distribution of information is prohibited by law and may entail liability.

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