Digital Payment Systems: Global Opportunities Still Waiting to be Unleashed

Abstract

Advances in the field of digital payment methods have fundamentally changed their operation. These technological progressions have helped bring safer, cheaper, more stable and all-inclusive payment systems to the world. This paper provides a brief overview of digital payment systems. It also argues that government identity managements systems have a potential role in supporting more trusted and secure digital payments. It relates this to a pilot project underway in the United Arab Emirates (UAE) that attempts to leverage its government identity management system to encourage wider participation in the national Wages Protection System (WPS).