Latest opinions that Steve Haley has shared on Finextra

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Steve Haley

Director of Market Development and Partnerships

Mojaloop Foundation

Member since

16 Feb 2023

Location

Wakefield

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Steve's opinions

Bridging the Gap Between Closed-Loop and Open-Loop Payments Systems

Payments ecosystems are often categorized as either closed-loop or open-loop systems, each with distinct advantages and limitations. Closed-loop systems, such as single-provider mobile wallets like M-Pesa, Venmo or PayPal, operate within a restricted network, limiting transactions to specific merchants or users who have the same provider. These sy...

22 April 2025 /payments /inclusion

Understanding the Difference Between Digital Public Infrastructure and Digital Public Goods

In an increasingly interconnected world, the synergy between digital public infrastructure (DPI) and digital public goods (DPGs) is crucial for creating an inclusive digital future but there’s currently a lot of confusion about these terms. By understanding their differences and how they complement each other, policymakers, technologists, and comm...

07 January 2025 /payments /inclusion

The Evolution of National Payment Systems and the Rise of Digital Sovereignty

Countries are increasingly modernizing their national payment systems to include the 1.4 billion underserved individuals within the digital economy, particularly those who rely on mobile phones and have limited access to traditional bank branches. Integrating unbanked and underbanked citizens into the digital economy allows central banks in emergi...

01 July 2024

A Vision for Low-cost Cross Border Payments

Note: This post was drafted in collaboration with Mojaloop Community members. There is a global effort to reduce cross-border remittance costs to no more than 5% for any corridor and no more than 3% for most (SDG 10.c and G20 Roadmap targets). We have a long way to go to get there – and we hope the final fees are actually lower. These important go...

24 October 2023 /payments /inclusion Financial Inclusion

What is an Inclusive and Instant Payment System (IIPS)?

What’s in a Name? RTP vs RTRP vs IPS vs Faster Payments One of the fun things about working on a global trend is watching the alphabet soup of acronyms and buzzwords diverge and converge. The US and UK are largely still using the term “faster payments,” and you hear that from international financial institutions like the World Bank. The rest of the...

25 August 2023 /payments /inclusion Financial Inclusion

Achieving Financial Equity Across Asia and Africa Requires a Digital Approach to Financial Inclusion

As the world signals a potential recession, now more than ever small investments in inclusive financial infrastructure will potentially go a long way for migrant workers, small businesses and sole proprietors supporting families within emerging nations and across international borders. According to the McKinsey Global Institute, 1.4 billion peopl...

20 March 2023 /payments /inclusion Financial Inclusion