Page 7 - ITU-T Focus Group Digital Financial Services – Interoperability

Table of Contents

Foreword iii

Table of Contents v

I Cooperation frameworks between Authorities, Users and Providers for the development of the
National Payments System 1

Executive Summary 3

1 Introduction and Background 4

2 Assessment of barriers to the development of digital financial services 4

3 Development of a vision statement, including policy objectives for DFS 6
3.1 National retail payments strategy and policy framework 6
3.2 DFS, financial inclusion objectives and national financial inclusion strategies 7
3.3 Vision statement and policy objectives for DFS 8

4 Roles of public and private sector actors in achieving the vision for the NPS/financial inclusion 9
4.1 Central Bank oversight and other roles 9
4.2 Role of other public sector entities 9
4.3 National payment council (or similar) to oversee implementation of the vision 10
4.4 Industry arrangements 10
4.5 Regulatory framework to support the vision 11

5 National Payments Council 11
5.1 The role of a NPC 11
5.2 Typical features/terms of reference for a NPC 12
5.3 Case studies 14

6 Other types of cooperation fora 16
6.1 Public sector-led 17
6.2 Payments associations and private payments councils 18
6.3 Consumer and business associations 19

7 Conclusions 19

II Payment System Oversight and Interoperability 23

Executive Summary 24

The Oversight of Payment Systems 28
A. The critical role of payment systems in contemporary economies 28
B. Payment systems need oversight 28

Payment System Interoperability 35
A. Relevance of interoperability 35
B. Interoperability and oversight policy 37

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