“Payment,” settlement “, will pay the existing digital payment platform, the current bank pay the settlement system, as well as the impact or impact of the payment or even international payment?
Digital RMB adheres to M0 positioning, making it the same advantages with cash, ie “paying, settlement”; and better than cash, digital RMB support remote payment, ie non-face paid. This means that the issuance of digital renminbi has created a payment system without a settlement. So, what kind of impact or impact will not be brought about by the digital renminbi?
“Funds” and its profit models have been “demise”
When using digital payments, personal feelings are often “paying,”, this is an illusion. In fact, the funds between digital payment accounts often need post-extension, and individuals have been seven days. Perhaps this is the setting of the digital payment platform itself, not “must”. In fact, this is the profit model of the digital payment platform, which is about the national payment, especially the fund activities between the digital payment account system and the bank account system, not only adding “locking days”, and often has one-third of the amount. ” One-way charges. This has formed a huge amount of funds, that is, “funds” is not completely in the bank settlement background, and a large number of occurrences in the digital payment system. It should be said that the number of latter is more huge, more concealed, not only inadequate financial norms, but also lacks sufficient effective supervision.
Why did the digital payment have a more huge amount of funds? The reason is that digital payments are often only the digital payment instructions issued by the digital payment platform, and they cannot escape the bank payment or bank settlement, plus the interest driver of digital payment platform itself. It has enlarged rather than reduced the incidence of funds. Relative to bank payment, the efficiency of digital payment and full-time, real-time, non-face payment and other conveniences make consumers tend to be willing to accept the cost of funds, but people are enlarged and the fund size of the fund will continue to erode consumers. It will be increasingly severely regulated. In terms, it is still a digital payment between digital payment and bank settlement, issuing and running digital Fin, and realizing digital payments for unspeakable needs.
With the issuance and operation of the digital renminbi, the scale of funds will tend to shrink sharply. First, the huge amount of funds created by the digital payment platform will be rapidly reduced, and the fund size of the bank payment settlement will also pay for the use of digital RMB payments. Continuous shrinkage.
Bank settlement scale tends to reduce, settlement (payment) efficiency improvement
The payment is combined with the settlement, and the cover refers to the bank payment settlement system. In other words, the settlement is mainly referring to the bank settlement. Bank payment directly indirectly produces settlement needs, real-time bank payment does not mean that there is no subsequent occurrence of bank settlement, inter-banks and cross-place payment must be settled. Digital RMB payload is constantly expanding, and it is inevitably squeezed out the digital payment of the existing digital payment platform, which will also extrud a certain bank payment, which reduces the size of the bank settlement. For example, it is assumed that “Double Eleven” shopping festival is completely used in digital RMB as payment arrangements, and there will be no subsequent bank settlement arrangements, and bank “zero point to zero” will not be reserved without retaining overnight arrangements on the day, but can be more flexible. Set the start time or multiple time limit combination arrangements for the shopping festival.
In a certain sense, the digital RMB payment system is better than a super huge full real-time payment system (RTGS), not only the bank’s payment can be paid by digital RMB, and the company will use the digital RMB, namely Digital Renminbi expands from retail payment to While Payments.
Digital RMB covers the economic zone, bank settlement demand and the reduction in the scale of the settlement scale are inevitable, and the bank’s payment will also adopt digital RMB, that is, even bank settlement, will It is possible to use digital renminbi to do the corresponding payment arrangement, so that the efficiency of the bank settlement system will also be greatly improved.
Ticket demand and its clearing will tend to weaken or reduce
The issuance and operation of digital renminbi will not directly affect the demand for bank notes, but the structural changes of the payment system will still have a positive impact on existing bills and liquidation arrangements. In a long time, the ticket needs and its clearing will tend to weaken or decrease due to the digitization of the French, which is an inevitable trend. The reason is that the current billing requirements and the liquidation of the bank account system, the data based on digital French account systems will bring a series of innovative changes, existing ticket requirements and their liquidation activities will be reduced to the micro, Further, the digital French and its account system have to be observed by its own automation and intelligence.
With the gradual expansion and deepening of digital renminbi, the digital innovation and change of securities and notes will also actively and more directly, and gradually mature. Among them, the intelligent progress of digital renminbi and its arrangements will directly reduce some of the ticket requirements, so that the ticket clearing is reduced, at least change in the incremental changes, the function of the digital RMB account system is improved or direct replacement effect.
In international payment, digital payment alternative bank payment in the international monetary system, bank payment settlement and bill clearing is infrastructure, main banks of international payment business, real-time payment becomes mainstream, but international settlement still has a lot of pain points, mainly Effect. It should be said that the international application of digital payment is quite a little, but in fact it is still limited to the digital aspects of the payment instruction, the international payment and its settlement are not changed by the banking system. Digital FaCs bring substantive payment digits, that is, “payment is settled”, no longer need bank settlement.
However, international digital payment replaces the existing bank payment, is not a process of one. The key is that it is not a single-sided payment system arrangement that can be effectively promoted, requiring a number of central bank consensus and cooperation. This orientation is an increasingly important development of the central bank agency and is not subject to relevant research projects and has made preliminary progress.
What is worth paying attention is that in the overall process of international digital payment, the first domestic digital payment will bring increasing competitive pressure on cross-border payment or international payment: such as some alternative cross-border payments will take the lead in changing , The amount of international payment will not be replaced, but there is only cross-border payment pen or corresponding reduction, that is, there is a competitive alternative to cross-border bank payment on transaction pen or frequencies; On the other hand, using digital payment means to avoid supervision, a large amount of gray digital payment will be more active. In fact, these will eventually form a digital non-international digital payment requirement, impact and ultimately replace the existing bank international payment settlement system.