Efficient Quote by Jerome Powell
“An efficient payments system provides the infrastructure needed to transfer money in low-cost and convenient ways. Efficient systems are innovative in improving the quality of services in response to changing technology and changing demand.”
About This Quote
Source Speech: Economic Forum, 2023
Efficient, low‑cost payment networks enable adaptable services that meet evolving technology and demand.
In simple terms: Good payment systems are cheap, fast, and adaptable.
Key Takeaway
Invest in flexible payment infrastructure.
Themes
finance
technology
innovation
Mood
analytical
pragmatic
Type
policy
business
When to use this quote
- e‑commerce
- cross‑border remittances
- mobile banking
- small business payments
Key Concepts
network effects
cost reduction
Questions to Reflect On
- What barriers slow payment innovation?
- How can regulators support low‑cost transfers?
A Different Perspective
Implementation can be hindered by regulation and legacy systems.
![“[Virtual Currencies] may hold long-term promise, particularly if the innovations Promote a faster, more secure and more efficient payment system.” quote by Ben Bernanke](https://sms4smile.com/quotes/img-quotes/58d/ben-bernanke-1388_currency_virtual-currencies-may-hold-long-term-pr_231560.jpg)
