Savings Cooperatives and Integration

After a short introduction of the history of savings cooperatives, the article focuses on the sector's role in payments in general. Its drawbacks from a payments point of view are examined, which are mostly be associated with the decentralised operation of the sector and the high level of manual procedures. The authors elaborate what possible effects the new integration might have on domestic payments, specifically focusing on those areas where further improvement is needed. Finally, they conclude that the ultimate solution for the lawful operation of an integrated model with multiple participants would be a unified accounting system