12 As the recent GSC initiative has highlighted the necessity for more convenient services, we should start to seriously discuss and consider possible solutions in the Japanese market. I would like to encourage relevant parties to put their proposals on the table. IV.
Concluding Remarks Today, I have discussed the challenges and risks posed by GSCs as well as the need for the reform of retail payment systems. While GSCs have the potential to improve payment services, their widespread use and the increase in GSC-denominated transactions could undermine the effects of monetary policy transmission and financial system stability.