Credit cards
Argentine central bank orders foreign exchange sales
BCRA also bans “payments in instalments” for overseas travel as currency weakens
US regulators warn Wells Fargo of new penalties, report claims
Bloomberg says OCC and CFPB believe US bank is moving too slowly on compensating scam victims
Book notes: The pay off, by Gottfried Leibbrandt and Natasha de Terán
A timely introduction to and accessible survey of payment system developments
Mastercard and Visa dominate card scheme market
Number of operational card schemes ranges from zero to 10
RBI bans Mastercard from taking on new customers
Indian central bank sanctions card issuer over failure to store all payments data locally
Virus impacts consumer credit more than restrictions – Fed paper
“Pandemic itself” was main driver of credit contraction in US, not lockdowns, paper finds
Stress test results affect consumer credit – Philadelphia Fed paper
Banks reduce credit supply after worse-than-expected stress test results, researchers find
Coronavirus panic fuels a surge in cash demand
Covid-19 has led to banknote hoarding in Australia, Brazil, Canada, the eurozone, Russia and the US, fuelled by concerns about financial system stress, write Jonathan Ashworth and Charles Goodhart
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
Bank of Portugal removes limits on credit card use
Central bank issues new regulation to encourage the use of electronic payments
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
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
Venezuela introduces new banknotes as hyperinflation continues
New notes come less than a year after five zeroes were dropped from currency
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: Financial deepening, fintech development and green financing
The past 40 years have seen China transform from a recipient of global aid to a major economic centre in its own right. China is now seeking to deepen its markets, gradually open its borders to global financial flows, and promote new and innovative forms…
Housing market still a risk to financial stability – RBA assistant governor
Michele Bullock addresses concerns over recent tightening in lending standards
Eurozone lending constraints are effective but only after a time lag, researcher says
IMF paper looks at efficacy of tighter lending on curbing house prices and credit
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?
Payment costs down 50% in Denmark
Cash usage declines to the same level of credit cards, official survey says