Payments
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
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
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
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
Majority of central banks charge RTGS usage fee
Annual cost of running RTGS systems ranged between $35,000 to over $16 million
Venezuela to debut CBDC in October
“Bolívar digital” accompanied by redenomination of currency, which will drop six zeroes
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
Cambodia links up quasi-CBDC with Malaysia
Malaysian bank users can transfer money to e-wallet developed by Cambodia’s 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
Somalia relaunches payments system after three decades of absence
World Bank played key role in restoring system to war-torn country, governor tells Central Banking
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
Bank of Ghana to pilot CBDC using G+D technology
Central bank says prototype would operate without bank account, contract or smartphone
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
Jamaica ‘mints’ first units of digital currency
Central bank kicks off pilot exercise with limited issuance of currency to banks and payments firms
Limited adoption of ISO 20022 messaging in RTGS systems
Around a fifth of central banks said they use the emerging payments messaging technology
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
Bank Indonesia bolsters FX settlement with Japan and Malaysia
BI continues to promote local currencies in a bid to “reduce dependence on the US dollar”
Half of central banks surveyed experienced RTGS outages last year
Most reported operating one contingency site
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
The renminbi in focus: reserve managers see promise
Reserve managers see potential in the renminbi and expect the International Monetary Fund to increase its weighting at the next special drawing rights reassessment
Central banks split on non-bank access to RTGS systems
Benefits of innovation must be weighed against risks of financial instability
The six key drivers for digital currency
Dave Birch breaks down the forces that are pushing central banks towards CBDC