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Future Challenges

Published in Contributions to economics • Jan 1, 2009
NobleIDNI8P81W72R33S74
Authors:
Tanai Khiaonarong
,
Jonathan Liebenau

Abstract

The modernisation of payment systems is an evolutionary process. It involves adaptation to changes in the socio-economic environment, regulatory developments and technological innovation among others. Schumpeter’s gales of creative destruction manifest themselves as new business models from non-bank...

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