Payment and financial market technology
Payment and financial market technology covers the systems that clear and settle transactions and support trading. Their continuity is essential for economic activity and crisis response. Payments and Market Infrastructure stewards this page for the Nexus Consortium.
- 01InstitutionThe Global Centre for Risk and Innovation (GCRI)
- 02Service levelR0: information and enquiries
- 03In briefThe short answer
- 04The methodWhat payment and financial market technology covers
- 05Reference practicePayment technology is governed by market infrastructure principles and messaging standards
- 06In systemic risk workPayments as the circulation of the economy
- 07Applied inPlatforms that apply this method
GCRI · Institution · service level R0
The short answer.
Payment and financial market technology covers the systems that clear and settle transactions and support trading. Payments analysis shows how operational outages or cyber events can freeze liquidity across the economy. In the Nexus Consortium, Payments and Market Infrastructure stewards its canonical page, and 3 other platforms apply it, including Digital Public Infrastructure and Fintech Nexus.
Digital demand and connectivity in Southeast Asia.
Urban demand centres and the hubs that anchor digital and data infrastructure, shown for Southeast Asia as an example geography for this subject.
What payment and financial market technology covers.
- 01
Core methods
payment system design; settlement risk analysis; operational resilience testing; liquidity simulation; message standard design; fraud detection.
- 02
Data and instruments
transaction and settlement records; system availability logs; liquidity positions; incident reports; message standard repositories.
- 03
Validation
Systems are tested through failover exercises, liquidity simulations and supervisory oversight. Reconciliation checks the integrity of settled positions.
- 04
Limits
Interdependence among participants and third-party providers can produce unexpected failures. Simulations may not capture behavioural responses under stress.
- 05
Use in risk decisions
Payments analysis shows how operational outages or cyber events can freeze liquidity across the economy. It informs resilience standards and contingency arrangements.
Payment technology is governed by market infrastructure principles and messaging standards.
| Reference | What it sets |
|---|---|
| CPMI-IOSCO PFMI | Risk management for payment and settlement systems |
| ISO 20022 | Financial messaging |
| FATF Recommendations | Integrity of payment flows |
Payments as the circulation of the economy.
Payment systems are the channel for salaries, social transfers and emergency assistance. Their outage halts commerce; their exclusion leaves households out of support. GCRI's interest is resilience and inclusion of payments in crises, alongside GRA's sector analysis.
- Assess offline and fallback payment capacity.
- Consider cash access in disasters.
- Map concentration of processors.
Platforms that apply this method.
Who maintains this page.
Payments and Market Infrastructure stewards payment and financial market technology: it keeps this description current and reviews how the method is applied across the platforms.
Terms used on this page.
Each term as this page uses it. Where a standard-setting body defines the term, the wording follows that body.
| Term | Definition |
|---|---|
| Payment chain | The sequence of participants and systems a payment passes through from payer to payee. |
| Liquidity-saving mechanism | A feature of a settlement system that offsets payments to reduce the liquidity needed. |
| PFMI assessment | An assessment of a financial market infrastructure against the CPMI-IOSCO principles. |
| Central securities depository | An entity that holds securities and records ownership, enabling settlement by book entry. |
Where this page's references lead.
The bodies and documents this page is read against. Status and editions change; each link goes to the issuing body.
Where this page leads across the Consortium.
- Applied inGCRIPayments technologyApplied in Digital Public Infrastructure.
- Applied inGRAPayment and financial market technologyApplied in Fintech Nexus.
- Applied inGRAMarket infrastructure technologyApplied in Capital Markets Nexus.
- Applied inGRAPayment and financial market technology at Payments and Market InfrastructureApplied in Payments and Market Infrastructure.
Questions and answers.
Why does one institution host every method page?
How do I suggest a correction to a method page?
Around GCRI.
Start with an enquiry.
The current service level is R0: information and enquiries. An enquiry receives a reference and names the next step; applications, payments, compute allocations and registrations open only when their team, terms and review capacity exist.