It also offered one piece of guidance, namely the suggestion that it would be desirable to have all payments system participants connecting to a central hub or hub-like arrangement in any new payments infrastructure, as opposed to continuing with the numerous bilateral linkages that have proved to be not particularly conducive to either innovation or competition.
Beyond that, the Board did not seek to dictate particular technical details of the solution, accepting that the industry itself should provide the roadmap to the agreed destination. One initial concern was that industry participants might respond with a number of separate solutions, but no clear path forward.