National Payments Schemes: Drivers of Economic and Social Benefits? John Chaplin Andrew Veitch Prof. Dr. Jürgen Bott 2 National Payments Schemes: Drivers of Economic and Social Benefits? Contents 4 Foreword and acknowledgements 4 Authors 5 Executive summary 8 Introduction 9 How stakeholders view the prospects for domestic payments providers 13 The economic case for domestic schemes 17 A level playing field 20 The role for central banks in running the payments business 23 Participation, governance and control 26 Stakeholder frameworks National Payments Schemes: Drivers of Economic and Social Benefits? 3 Foreword and acknowledgements The authors wish to thank the contributors to this project from all 5 major continents. We appreciate the time that they have devoted and their considered and expert opinions. We also wish to thank the Anthemis Group for their support of the project especially in the area of economic analysis. The authors would like to note that any errors, either of omission or commission, in this document are entirely their own. The views presented herein represent those of the authors and are not necessarily the position of any of the organisations that we individually work for or advise. Authors John Chaplin is a director and adviser to a number of leading payments organisations especially in Africa, Europe and Middle East. He previously held senior roles at both Visa and First Data where he gained experience working with payments providers in many countries. He is also the organiser of the biannual Global Payments Innovation Jury. Email:
[email protected] Andrew Veitch is Director, Anthemis Group. He has specialised in card payment schemes and interbank processing for 20 years.