General guidance for national payment system development

The Committee on Payment and Settlement Systems (CPSS) is today publishing the report General guidance for national payment system development. The report aims to give assistance and advice on the planning and implementation of reforms in national payment systems.

This report includes 14 guidelines and accompanying explanatory text on payment system development. It also includes sections on implementation, which illustrate the guidelines with practical examples, issues and possible approaches to implementation. A consultation version of this report was published in May 2005 and was discussed in regional consultations with payment experts from central banks and the financial community around the world. The report benefited from the numerous comments received during the consultation process.

The report was initiated by the CPSS under the leadership of its former chairman, Tommaso Padoa-Schioppa. It was produced for the CPSS by a working group chaired by Sean O'Connor of the Bank of Canada.