Payments
Digital payments key to financial inclusion, says Gates report
New report into financial inclusion says digital payments are the way forward – but financial service providers will need to charge fees in order to cover the cost of serving the poor
Downsides of technology-driven financial system highlighted at AFI conference
Bank Negara Malaysia governor Zeti Akhtar Aziz says in opening remarks that financially marginalised groups could suffer as everyday financial activities become increasingly sophisticated
Danish central bank calls for better liquidity management in payments markets
National Bank of Denmark urges market participants to reserve ‘adequate liquidity’ for payments settlement; breaks down ongoing modernisation of financial market infrastructure
Mauritius introduces polymer banknotes
The Bank of Mauritius joins an exclusive but growing group of central banks that is looking to plastic money to curtail counterfeiting
People: StanChart's new global RMB team; RBC hires Asian equities head from JPM
Carmen Ling quits Citi to head Standard Chartered's new global renminbi-focused team; RBC hires new head of Asian equities from JP Morgan in Hong Kong; and more
US households stick with favourite payment methods
According to a recent study, households use ‘one or at most two' of cash, cheque and card when paying the bills
Adopting electronic retail payments boosts real economy, says ECB paper
Working paper says efficient electronic retail payment infrastructure boosts GDP, trade and consumption; integrating and harmonising different markets amplifies these effects
Central Bank of Sri Lanka launches national electronic payments system
The scheme, which will allow customers to withdraw cash from any ATMs of participating banks, is similar to one announced by the Palestinian Monetary Authority earlier this month
Palestine to get new retail payments system
Palestine Monetary Authority announces deal for new electronic payments system; ATM machines and points of sale will become accessible to all debit cards without additional charges
Thailand and Hong Kong launch cross-border settlement scheme
Bank of Thailand and Hong Kong Monetary Authority look to eliminate cross-border settlement risk through establishment of Asia's third PvP link between different currencies
Polish banks set up joint standard for mobile payments
Participants expect the joint venture to provide a boost to non-cash trading and, by extension, business effectiveness
Survey finds Lithuanians lack opportunities to use payment cards
Survey respondents would like to pay by card at places that currently do not accept them - but paying through mobile phones is still beyond the pale
UK Payments Council prepares 'roadmap' for reform
'Payments Roadmap' seeks to boost competition and innovation in UK payments, even as a government consultation leaves the future of the Payments Council in doubt
People: Poloz names special advisor; BoE appoints insurance specialist to PRA
Bank of Canada appoints senior advisor to the governor; UK's Prudential Regulation Authority names final independent director; payments systems Bacs and Chaps appoint new chairmen
Ukraine caps cash use in bid to boost e-payments
National Bank of Ukraine hopes to deliver a wide range of benefits by imposing limits on the size of cash payments
ECB issues draft regulation on systemically important payment systems
Central bank seeks comment on draft regulations implementing CPSS-Iosco Principles for Financial Market Infrastructures, for systemically important payments systems in the eurozone
BoE chief cashier looks forward to further innovations in the use of cash
Chris Salmon, chief cashier and executive director for banking services at the Bank of England, says ‘local recycling' of cash in ATMs poses questions over authentication
Financial exclusion in Europe driven by move away from cash, study finds
New report from Brussels-based pressure group finds financial exclusion is a growing phenomenon as cash falls out of favour for everyday transactions
UK consumers drop cash in move towards mobile payments
British Retail Consortium says cash usage fell sharply last year, while research by VocaLink finds a strong uptake of mobile payments by consumers, though retail payments are still dominated by cash