FMI

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…

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.

HKMA Press Release

PRESS RELEASE - Real Time Gross Settlement (RTGS) Systems in Hong Kong and Reuters Dealing 3000.

France bids tearless farewell to franc

FEATURE - After 650 years of history, the franc disappears this weekend with about as much ceremony as the muttered address at the funeral of a forgotten relative.

Crucial factors for online banking

MALAYSIA - In order to provide Internet or online banking, banks operating in Malaysia are required by Bank Negara (BNM) to employ the services of a well mandated or a trusted security system.

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