Payments
Payments and market infrastructure provider of the year: Perago
The software company is helping central banks around the world implement reliable and highly adaptable RTGS and retail payments systems
Lifetime achievement award: Perng Fai-nan
Pre-emptive financial reforms combined with flexible monetary and forex policies have enabled Taiwan’s veteran governor to provide economic stability, even during turbulent times
Asian central banks crack down on cryptocurrency
Central banks in China, Korea, Malaysia and Singapore all taking action as cryptocurrency prices slump
PBoC ramps up regulations for QR code payments
Transactions made by QR code capped and reserve requirements increased, as PBoC seeks to crack down on payment risks
Patrick Njoroge on reshaping banking and finance to work for the masses
The Central Bank of Kenya governor speaks to Christopher Jeffery and Rachael King about exchange rate intervention, food prices, banking reform and financial inclusion
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency
RBA’s Lowe discusses potential electronic Aussie dollar
Financial stability risk and reforms holding back provision of digital currency at the moment, says RBA governor, but clearing and settlement could be future use case
Malaysia’s Ibrahim warns of costs of not turning digital
Bank Negara governor outlines plans to push consumers towards e-payments, as the cost of cheque processing weighs on the economy
Denmark ‘not heading for cashless society’ – research
Central bank recognises cash transactions are in decline, but says consumers will always have the option to pay with cash
Italian central bank launches fintech initiative
New communication channel will allow firms to directly engage with the central bank
Venezuela to launch cryptocurrency as cash crisis continues
New cryptocurrency will be backed by Venezuela’s oil reserves and other raw materials; new ‘blockchain observatory’ has responsibility for oversight
Asian banks vulnerable to fintech disruption, report finds
Banks reliant on transaction fees will struggle to compete with fintech firms who will offer cheaper alternatives; banks in HK, Korea and Singapore all at risk
Instant payments crucial to stop crypto disruption – Mersch
ECB board member reiterates concerns around viability of crypto-currencies, while encouraging banks to adopt instant payment networks
Bank of Canada paper investigates the ‘burden of coins’
Research sheds light on consumer behaviour when making low-value transactions with cash, suggesting cards more likely to be used if large amount of coins will be received
Singapore broadens push into e-payments
Singapore expands payments regulation frameworks and launches a common QR code for e-payments
San Francisco Fed study: cash is not dead yet
Demand for notes and coins is “strong”, says the study, with cash in circulation growing in the majority of nations
Bank of Israel invites real-time payments proposals
Central bank envisages “at least” one real-time payments infrastructure, to be developed and operated by a third party
TCH launches real-time payment platform in US
Firm launches US’s first real-time payment system, cutting transaction times from days to seconds
Singapore unveils cross-border fintech push
Singapore plans to work with central banks in Hong Kong, Canada and Thailand on fintech
DLT set to make central banks ‘obsolete’ as payment operators – report
Second phase of MAS’s Project Ubin deemed a success as central bank manages to deploy RTGS system on DLT fabric
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
BoE to run Chaps payment system
UK central bank moves to “direct delivery model” to operate entire high-value payment system as it looks to implement RTGS overhaul
Book notes: Hole in the Wall, by James Shepherd-Barron
Cash machines have changed the way cash is managed, but is there a future for such machines in a world looking to go cashless?
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says