BIS updates statistics on cashless payments, others

The Bank for International Settlements (BIS) has announced that it is updating and enhancing its statistics on cashless payments and financial market infrastructures in the 24 jurisdictions, which are members of the Committee on Payments and Market Infrastructure (CPMI), the so-called Red Book statistics.
In a statement, the Bank said the new statistics reflect the substantial changes that the payment landscape has undergone over the past decade, adding that the statistics will in future include more information on the role of non-banks, on online and contactless payments and on fast payments.

The new methodology also clarifies how to count debit and credit cards, and which retail cashless payments count as domestic and which as cross-border.
According to the statement: “The 2017 Red Book (reporting end-2016 data, to be published in September and December 2017) will still use the old methodology. The new Red Book statistics will be published in a new user-friendly internet-based format.”

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