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Finance Norway’s Payments Conference 2020
Oslo, 5 November 2020
DEPUTY GOVERNOR IDA WOLDEN BACHE
CENTRAL BANK DIGITAL CURRENCY
AND REAL-TIME PAYMENTS
Changing payment landscape
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1950 19701960 2010 20201980 1990 2000
Cash use has fallen furtherPercent
3Source: Norges Bank
0
10
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60
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80
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Spring 2017 Autumn 2020 Spring 2017 Autumn 2020
Other
Online/mobile banking
Mobile phone
Payment cards
Cash
At points-of-sale Person-to-person
Increased globalisation
BigTechs’ networks and market power
New types of monetary and payment systems
Global operators in the payment infrastructure
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Central bank digital currency (CBDC)
Electronic claim on the central bank, accessible to all
Being researched by many central banks
Role of cash and the “precautionary principleˮ
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Central bank digital currency in Norway
Norges Bank is researching CBDC – no decision reached on
introduction
Currently assessing:• CBDC features
• Technical solutions
• Consequences for financial stability and monetary policy
Welcome to our open webinar on 9 November!
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Real-time payments
Straks 2.0
ready and all
banks join
Common
infrastructure
Straks ready
2013 2016 2018 2020 2021
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Initiative to
improve
Straks
Straks
payment
via Vipps
Norges Bank
explores
expansion of
operational role
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Innovation – to better meet society’s needs
Cross-border payments
Nordic BIS Innovation Hub Centre
IT security• Framework for testing cyber resilience based on TIBER
Technological advances –
opportunities and challenges
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Finance Norway’s Payments Conference 2020
Oslo, 5 November 2020
DEPUTY GOVERNOR IDA WOLDEN BACHE
CENTRAL BANK DIGITAL CURRENCY
AND REAL-TIME PAYMENTS
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