Debit cards
Fed looks to boost competition in debit card payments
New rule will support legal right to at least two payments options for merchants
Bank of Israel hails milestone in move to ‘smart payments’
Central bank is pushing transition to EMV payments that allow contactless transactions
Three Caribbean central banks announce new CBDC projects
Bank of Jamaica plans CBDC pilot, while Bahamas and ECCB upgrade existing projects
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024
PBoC opens local currency payments market to first foreign company
Central bank issues clearing licence to Amex in step towards opening up one of world’s biggest bank card markets
Contactless payment limit to rise in the UK
National roll-out of new limit will begin in April, but will take time, says industry body
FedNow: the advantage of going last
While the Fed is late in developing instant payments, it can learn about fraud detection, interconnectivity and directory services strategies from Europe, the UK and Australia
UK regulators weigh rules for ‘operational resilience’
Under proposals, firms will be expected to demonstrate their preparedness for operational issues
Overseeing China’s payments revolution
The PBoC has tried to strike a balance between facilitating bigtech innovation and reining in risks, amid an explosive growth in mobile payments
Cash no longer US’s most popular means of payment
Debit cards were the most frequently used means of payment in 2018, Fed report finds
RBI unveils vision for e-payments overhaul
Central bank says next 10 years will see “revolutionary shift” in payments across India
Bhutan strengthens relations with India through payment co-ordination
New proposals will limit the number of tourists having to bring cash into the countries as ATMs and POSs become interoperable with local cards
Vietnam continues with payment card upgrades
Banks must phase out magnetic strip cards by 2021
Rwanda upgrading payment infrastructure on all fronts – annual report
Government officials no longer have to visit the central bank to make a transaction
Riksbank considers joining EU’s faster payments system - deputy governor
Cecilia Skingsley says Riksbank is reviewing how it distributes central bank money
Fraud growing faster than non-cash payments, Fed finds
Cases of payments fraud are getting smaller but more common, survey finds; introduction of chip-based cards appears to have helped reverse the trend
What is driving the drop in UK cash volumes?
The volume of cash in circulation in the UK has declined for the first time since 1960. Is this a sign the UK is moving towards a cashless society? Or just a blip in the trend?
UK lawmakers ‘satisfied’ with Visa response to outage
Visa has promised an independent inquiry into the incident that saw 5.2 million payments fail; firm reveals details of its recovery efforts
UK card transactions surpass cash for first time
Report shows card transaction volume was marginally higher than cash in 2017
Cash usage unlikely to disappear – Atlanta Fed
Universal access, in-person shopping and preference among low-income groups support cash
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017