Also known as instant or real-time payments, fast payments are characterized by the instant transmission of the payment message and by the immediate availability of funds to the beneficiary on a 24/7/365 basis. While fast payments bring many benefits, they also add complexity and increase areas of engagement. Because they increase the number and types of consumers able to use the payments system, they also demand we continuously improve our consumer protection frameworks. This requires regulators, operators, and providers to collaborate to drive comprehensive and adaptive consumer protection policies and good practices.
In this webinar, Colin Colter (Consultant, World Bank) and Bernardo Correia Barradas (Senior Consultant, World Bank) discuss major questions and approaches to consumer protection frameworks in the context of fast payment systems, sharing good practices and innovations from around the world.