FMI
China links bank cashpoints to meet WTO challenge
CHINA - China launched an electronic network on Tuesday to link the cash machines of major banks for the first time, hoping the customer-friendly service will help Chinese banks fend off fierce foreign competition.
Phasing out the euro with e-money
FEATURE - Now that the physical euro has been successfully introduced, it is time to press ahead with the next phase - getting rid of the physical euro.
Facelift for the greenback
US - Redback, pinkback, and blueback may not have quite the same ring as greenback. Nevertheless, US Treasury Secretary Paul O'Neill is considering plans to replace the famously green hue of dollar notes with a rainbow of seven different colours.
Banks tackle RBA in new card twist
AUSTRALIA - The Australian Bankers' Association (ABA) says the Reserve Bank of Australia (RBA) has hired a lobbyist to promote credit card reform.
Federal Reserve Board Press Release
PRESS RELEASE - The Federal Reserve Board on Thursday announced the publication of a guide to help consumers better understand their rights and responsibilities with regard to electronic check conversion transactions.
Banks in fight over card fees
AUSTRALIA - Banks and credit card issuers are in disagreement with the Reserve Bank of Australia (RBA) over credit card reforms.
RBA is losing minds in credit card battle
FEATURE - The Reserve Bank is digging itself into a hole in its new role as a consumer advocate and risks damaging its relations with the banks over its efforts to "reform" Australia's credit-card system.
SPB to stimulate debit card use in Brazil
BRAZIL - Brazil's inter-bank settlement program (SPB) is expected to cause a rise in debit card use and a corresponding decrease in check use due to high pre-funding fees, Bradesco technology director Osmar Roncolato Pinho told participants of a…
Reserve Bank of Australia Media Release
MEDIA RELEASE - Reform of credit card schemes in Australia, 18 March.
Cash transfers to be possible by Visa card
UK - European consumers will be able to transfer money directly between each other's Visa credit and debit cards by the autumn under plans by the card-processing network.
Korea to export currency for world cup period
SOUTH KOREA - The Bank of Korea (BOK) today said that domestic lenders will export 50 billion won (US$37.82 million) worth of the country's money abroad to facilitate currency exchange for foreigners who will visit Korea during the FIFA World Cup period.
China's c bank in battle over payment settlement
CHINA - Credit-card companies are fighting for a slice of multi-billion-dollar revenues which could be earned by providing their international networks to settle transactions made on the mainland.
Czech Senate pass amended Banks Act, Payments Act
CZECH REPUBLIC - The Senate on Wednesday passed the amended Banks Act abolishing the possibility of anonymous deposits, among other things.
10 won coins to become less visible
SOUTH KOREA - The Bank of Korea (BOK) said on Tuesday that fewer 10 won coins will be available in the Korean market this year.
Credit card advantages overlooked, RBA told
AUSTRALIA - Two leading banking industry consultants have criticised planned reforms of Australia's credit card industry.
Bulgarian c bank launch redesigned website 15 Mar
BULGARIA - Bulgarian Central Bank (BNB) will launch its redesigned website on 15 March.
Colombia central bank launches new COP1,000 bill
COLOMBIA - Colombia's central bank on Tuesday launched a new 1,000 peso bill ($1=2271.50) to complement the coins of that denomination in circulation already.
Banks shun online sales pitch
UK - Britain's banks and building societies are turning away from the web in their search for new customers.
Federal Reserve Board Currency and Coin
REPORT - Payment Systems, 2001 data for currency and coin, 28 February.
HKMA Press Release
PRESS RELEASE - Real Time Gross Settlement (RTGS) Systems in Hong Kong and Reuters Dealing 3000.
Fake note scam hits 50 shops
IRELAND - Forged euro notes were handed in to 50 Irish businesses last week, it emerged yesterday.
CBA hits Reserve, playing "social policy" on cards
AUSTRALIA - On Thursday Commonwealth Bank of Australia (CBA) attacked the Reserve Bank over its proposed credit card reforms.
Russia finishes real-time payment system
RUSSIA - According to Tatyana Paramonova, first deputy chairwoman of the Central Bank of Russia, the real-time payment system is 80% complete in Russia.
BOK to introduce cyber credit card in October
SOUTH KOREA - The Bank of Korea (BOK) is moving to introduce an online cyber credit card which will be available in October this year.