Payments
US CBDC research ‘could take years’, says Treasury
Report weighs design choices that could underpin digital dollar
Fiji will eliminate cheques from 2024
Governor says improved RTGS will replace paper payments
Campos Neto predicts end of credit cards
Brazil governor says Pix will be model for region’s payment systems
CBDCs could hugely improve cross-border payments – ECB’s Bindseil
“Holy grail” of secure, instant universal payments could be a reality in next 10 years, authors say
Chileans’ use of electronic payments is on the rise
Central bank report finds rapid increases in card and online payments.
Cash remains most common means of payment in Germany
But share of cash payments dropped from 74% in 2017 to 58% in 2021, Bundesbank finds
Iran imposes restrictions on payments
Authorities cite risk of cyber attacks, but economy has also faced capital flight
Payments Benchmarks 2022 – executive summary
Key findings of the 2022 report, including the emergence of a novel digital payments landscape
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
Payments Benchmarks 2022 report – on the shores of a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, RTGS design and management, and CBDC development
Payments oversight more difficult in poorer nations
Lower income central banks more likely to feel they need more resources
Average RTGS system processes millions of payments yearly
Benchmarking data shows wide range of transaction volumes
Virtual asset service provider sues Fed
Crypto firm wants “master account” but critics warn of regulatory problems
Most central banks have oversight of non-bank payments systems
Less than half have oversight of non-bank fintech service providers
Some central banks directly regulate RTGS prices
Direct intervention in pricing of other payments means is less common, benchmark respondents say
Round-the-clock RTGS operation still uncommon
Most central banks keep core settlement system running for 7–12 hours each day
Norges Bank flags rising cyber threats
Study finds payment system is efficient and offers lower costs than neighbouring countries
Mitigating regulatory risks of mobile payments
Third-party payment providers need to give up data to supervisors to prevent fraud
Asean pushing for greater retail payments connectivity
Finance ministers and governors discuss QR codes and instant cross-border payments
Every CBDC decision is a tradeoff, says Bank of Canada’s Shah
Privacy, security, and offline access present difficult problems
Bank of Thailand and finance ministry delay PayPal suspension
PayPal Thailand must comply with KYC regulations by end of year, central bank says
Botswana cancels cheques
Banks will cease processing cheques from 2024
Accenture to lead creation of UAE instant payments platform
Firm says consortium will create cloud-based system to enable 24/7 payments and transfers
ECB criticises Polish law on cash use
Frank Elderson says law “may not be in public interest” and says government failed to consult ECB