Nonbanks and risk in retail payments

Anonymous

No PSR WP 07-02, Payments System Research Working Paper from Federal Reserve Bank of Kansas City

Abstract: This paper documents the importance of nonbanks in retail payments in the United States and in 15 European countries and analyzes the implications of the importance and multiple roles played by nonbanks on retail payment risks. This paper also reviews the main regulatory safeguards in place, and concludes that there may be a need to reconsider some of them in view of the growing role of nonbanks and of the global reach of risks in the electronic era.

Date: 2007
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