Payments
Brazil’s largest state considers suspending Pix payments
São Paulo legislature examining payments system shutdown as an anti-crime measure
Eurosystem approves new payments oversight framework
‘Pisa’ principles will cover stablecoins, e-wallets and other payments arrangements, ECB says
Brazil’s Pix system used by 62% of population – central bank
Real-time retail payments platform was most-used means of payments in October – BCB
Global CBDC network could save multinationals nearly $100bn
Payments system could eliminate delays and need for multiple correspondent banks
UAE partly decriminalises passing bad cheques
New law meant to encourage recovery, justice and more modern forms of payment
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
PBoC steps up efforts to safeguard cash use
Chinese central bank fines railway $78,000 over refusal to accept cash in ticket office
Payments Benchmarks 2021 – presentation
Central Banking’s payments subject matter specialist Rachael King speaks with Christopher Jeffery about payments, staffing and salaries, mandates, oversight, and RTGS renewal
Swedish central bank may join Eurosystem payments platforms
Sveriges Riksbank says Target2 and T2S could enhance policy but has security concerns
Payments Canada launches new wholesale payments system
Bank of Canada governor says new system is important to keep system secure and efficient
Pandemic increased US demand for faster payments, says Fed paper
Vast majority of business expect to be using speedier options by 2023, survey finds
Brazil delays integrating payments into ‘open banking’ project
Phase three of project delayed to October after technical difficulties emerge
Rwandan central bank scraps e-wallet transfer fees
Customers can now move money between mobile and bank accounts without charge
Payments Benchmarks 2021 report – looking forward to a digital future
Benchmarking data offer insights on mandates, staffing structure, oversight of payment services, and RTGS design and management
Majority of retail payment systems lack real-time processing and settlement
Over half of RPSs in emerging market economies were owned by central banks, but in advanced economies this fell to less than a quarter
Majority of central banks charge RTGS usage fee
Annual cost of running RTGS systems ranged between $35,000 to over $16 million
Third parties often develop RTGS technology
Seventy-one percent of respondents said the technology underpinning their RTGS system was developed solely by a third party or in collaboration with the central bank
Payments department responsible for oversight of payments infrastructure
Heads of payments systems oversight often report to departmental head, but some report directly to the governor
Central banks look set to upgrade RTGS systems in the next 12 months
Nine central banks said they are planning ISO 20022 adoption
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
Over 50% of central banks actively regulate cost of payments services
Central banks with explicit payments mandate more involved in setting cost limits
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
Limited adoption of ISO 20022 messaging in RTGS systems
Around a fifth of central banks said they use the emerging payments messaging technology
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site