Debit cards
RBA makes progress with card surcharging guidelines
Industry calls on Reserve Bank of Australia to provide “more prescriptive” guidance than draft rules issued in June; final version set to be published in October
Australian payments systems board debates multi-network cards
Introduction of contactless payments reignites discussion surrounding cards issued by banks with debit functionality from more than one payments network; consultation launched
Reserve Bank of Fiji grapples with credit card surcharge decision
Fijian central bank looks to Australian experience of updating rules regarding credit card surcharges; weighs up benefits of allowing additional charges ahead of final decision this month
Fed reveals final rules for fraud prevention adjustments
Rules released permitting debit card issuers to receive an adjustment for fraud prevention; maintains cap of one cent a transaction but simplifies requirements
ECB reports decline in card fraud
First oversight report of card payment schemes in Sepa shows decline in fraud since 2007; lauds technological advances including chip and pin use for increasing the security of transactions
RBA ends 'excessive' card surcharges
Australian central bank publishes final reforms for surcharging standards for payments by credit and debit card in the country; allows “reasonable” charges to continue
RBA outlines payments system development plan
Australian central bank sets out areas of priority for advancing the payments system in the country; concludes two-year review process
Norges Bank assesses payments system
Annual Report on Payment Systems 2011 finds speed of payment transactions to be lacking; system in general is nonetheless efficient says deputy governor
RBA governor criticises ‘dated’ payments systems
Glenn Stevens warns Australia has fallen behind other countries by not offering real-time electronic transfers; notes task the central bank faces in matching improved global regulatory environment
Swift chooses head of marketing as new chief
Gottfried Leibbrandt confirmed as successor to Lázaro Campos at global financial communications, products and services company
ECB calls for comments on payments system security recommendations
Public consultation opens on payments system recommendations from European Forum on the Security of Retail Payments; changes relate to areas of concern regarding internet payments
Central Bank of Iran reacts to major debit card security breach
Central Bank of Iran urges debit card users to change personal identification codes after hacker publishes security details of millions of accounts on internet
Netherlands Bank working paper studies media impact on debit card use
Research finds “significant” impact of newspaper articles about skimming fraud on same day debit card usage
Boston Fed continues research into payments
Researcher Scott Schuh adds to 2010 research into payments; finds rising cost of debit cards reduces their use
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
Boston Fed investigates effects of credit scores on payment choice
Discussion paper finds evidence to back anecdotes that debit card use is negatively impacted by poor credit scores
Interview: Gerard Hartsink
European Payments Council chairman Gerard Hartsink tells Yusuf Yassin he welcomes the decision to set end-dates for Sepa migration, but says concerns about the regulation, raised in October, remain
Non-cash payments growth slows
World Payments Report 2011 finds slower growth in non-cash payments; key regulatory and industry initiatives are combining to gradually transform the payments landscape
Hong Kong strengthens security for ATMs
Automatic teller machines will use chip-based technology to help cut fraud; magnetic strips on cards will still work for foreign transactions
Fed's Raskin on debit card reform
Federal Reserve board member Sarah Raskin outlines regulatory changes in debit card industry
Electronic methods leading growth of cashless payments in the US, says Fed study
Federal Reserve study shows number of cashless payments has grown, with debit card, automated clearinghouse transactions leading the way
Global payment volumes grow 9%
Payments withstand financial crisis, spurred by surge in non-cash payments in some developing countries
HKMA issues incident response and management procedures
Hong Kong Monetary Authority reminds firms of their requirements in response to incidents affecting customers
Riksbank’s Nyberg: cards systemically important
Riksbank’s Lars Nyber says cards are overtaking cash in Nordic countries, but security still an issue