era of finance and payments intermediation?These questions are raised in this paper.Instead of a formal analysis, an … important intermediators of financing and payments, and that these functions will constitute the core of banking also in the … accentuated the role of the central bank as a payments service provider to the banks and particularly as an overseer of payment …

for cash substitutes (cards, electronic money, mobile phone payments). Where cash use is very high, demand should be …