•  But fully consolidated networks also present certain negative externalities: First, a high degree of consolidation implies that failure of the network has high systemic and contagion risks and costs. Failure of one part of the network could lead to failure of other parts of the integrated network, resulting in contagion.
Through the NRPS, regulated institutions are required to adopt transparent and fair market pricing of electronic payments, transition from exclusive bilateral to multi-party clearinghouse agreements and provide electronic fund transfer facilities in all available channels, among others. It is a critical platform that will establish an interoperable ecosystem allowing seamless electronic fund transfers and payments between and among accounts.