For example, funds transfer service providers, typically named “XYZ Pay,” and prepaid payment instruments issuers, such as retailers and transport companies, issue digital money that differs from traditional cash and bank deposits, and the use of such digital money seems to be expanding.
Diversification of payment service providers will likely have various impacts on financial regulations as well as the operations of payment and settlement systems operated or managed by the central bank and the private sector. Third, money and data will become more closely linked. Many NBPSPs provide convenient cashless payment services.