In this complex environment, it is hardly surprising that the overall demand for electronic payments to replace a well-functioning paper-based system has tended to grow more slowly than anticipated. Recent trends Thus I suspect that we should be simultaneously optimistic and cautious in our expectations of future retail payment systems, including electronic systems.
At the same time, the review highlighted that level playing field issues exist among supervisors and institutions. In response, the FSB is developing an ongoing monitoring mechanism to identify gaps and impediments to full implementation. As part of that, a bilateral complaint handling process between supervisors is being established to address level playing field concerns raised by institutions.