Why government should encourage and defer to, rather than compete with, private sector payment systems

Eric Grover
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Eric Grover: Intrepid Ventures, USA

Journal of Payments Strategy & Systems, 2024, vol. 18, issue 3, 282-290

Abstract: The paper discusses the huge and rarely acknowledged, much less addressed, issue of government payment systems competing with private sector payment systems that serve consumers, businesses and banks. This paper’s discussion of government payment systems, however, does not include central banks’ real-time gross settlement systems. It discusses a range of public and private sector payment systems, payment-network innovation, accountability and value, why governments develop and run payment systems, and why they should not.

Keywords: payment networks; payments innovation; central bank conflicts of interest; public versus private sector; payment-system competition; cash; real-time payments. (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2024:v:18:i:3:p:282-290

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