![]() And then, a hypothesis on the typical evolutionary pattern from the simple DTNS system to a more sophisticated system is proposed. Emergence of some Integrated systems are discussed, which include the LVTS in Canada, the PIS in France, the MEPS+ in Singapore, the TARGET2 in EU and the Next Generation BOJ-NET in Japan. The third trend was the adoption of the Integrated system. Several Hybrid systems in Europe and the US are discussed in detail. The second step in the evolution of payment systems was the introduction of the Hybrid system. A technology diffusion analysis of the RTGS technology across the world is also presented. That was the transition from the traditional DTNS system to the RTGS system. The first evolutionary trend was observed in central bank payment systems. ![]() Payment systems showed remarkable changes in the past two decades. more This paper presents an analysis on the evolutionary process of payment systems. ![]() This paper presents an analysis on the evolutionary process of payment systems. ![]()
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