The COVID-19 pandemic may place a unique strain on payment and settlement systems and the provision of payment instruments and services. Health aspects of the crisis can pose an operational risk, while financial risks may arise from the impact on the soundness of the financial sector. Payment and settlement systems are the rails on which finance flows in an economy. They form the basis for the processing of payments, including remittances, government payments, securities, and money market transactions. They serve both systemically important functions such as large value inter-bank payments and capital market transactions and the billions of everyday consumer transactions that power commerce.
The webinar will discuss the impact of the COVID-19 pandemic on digital payments, as well as how digital payments can be leveraged to mitigate the impacts of the crisis. Cash distribution and access are likely to experience large negative disruptions. As cash is a vital component of the national payments system, especially in most emerging and developing economies, individuals relying on it, including many beneficiaries of social protection programs and recipients of remittances, could be heavily impacted. The webinar will illustrate examples of policy actions central banks around the world are taking to manage the COVID-19 crisis as well as lay out risks and opportunities policy makers should consider during these times.
Note: Once you have completed the registration, you'll receive a confirmation and instruction for joining the webinar session