Abstract:

A payments system is no more than a structured arrangement for moving value between its participants. So defined, it is crystal clear that payment systems are ultimate to the functioning of all monetary economies, no matter they are developed economies, transitional economies, or developing economies like Guyana. The aim of this work is to show how the architecture of payment systems (payment instruments, processing, participants, consumers, etc.) impact to payments industry (microeconomic approach) and for the promoting the role of the Central Bank in payment systems and financial stability (macroeconomic – public approach) along with consumers adaptation to these changes and developments. We use the method of qualitative to analyze, not experimental measures. Central Banks, as circulators of money, have always had a keen interest in the smooth functioning of their respective National Payments System and the way it affects the economy. Their involvement has, however, evolved over time, as Central Banks have increasingly taken on a blatant role in the pursuit of the Consumers good of maintaining trust in the currency and ensuring its smooth circulation in carrying out their core monetary and financial stability functions through the payment systems modern evolving infrastructure.

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