The Spread and Impact of Faster Payments Across LAC

A World Bank blog looks at fast payment systems (FPS) in Latin America and the Caribbean (LAC) based on a new World Bank report that analyses data on FPS across 11 LAC countries. It found that the introduction of digital wallets has simplified the process and reduced the cost of transferring money in LAC. However, friction remains due to siloed payment infrastructures and uncompetitive markets.