Payment and Settlement Systems in the SEACEN Countries

Abstract

The main objectives of this study are to review and analyse the present status of, as well as the recent developments in, domestic and cross-border payments in the SEACEN member countries; and to recommend the measures or roles that the central bank should undertake to ensure the safety and efficiency of the payment and settlement systems (PSS) The study notes that the SEACEN countries are generally moving towards a cashless society as reflected in the significant growths in the use of non-cash payment instruments.However, the electronic-based instruments are still at an early stage of development in several SEACEN countries. This collaborative study was led by Dr. Magno L. Torreja, Jr., Visiting Research Economist from Bangko Sentral ng Pilipinas, and participated by country researchers from all the member banks.