Payments
Mobile payments accelerate decline in Swedish cash use
Cash accounted for just 6% of payments in 2018, and its value in circulation is barely 1% of GDP
Cash increasingly used as store of value – BIS report
Cash “still king”, BIS authors say, but electronic payments are taking a bigger share of transactions
UAE central bank launches fintech office
Central bank will look to establish a regulatory interface with the market as part of new fintech strategy and roadmap
New Zealanders increasingly abandoning cash – RBNZ survey
RBNZ warns about the effects a cashless society may have on those already excluded from digital innovations
Libra unlikely to play a major role in Sweden – Riksbank research
Existing payment systems are highly integrated into companies’ cash systems, and Libra would add exchange rate risks
Cambodia extends blockchain payment system pilot
Central bank lengthens trial to end-2019 and explores including cross-border transactions
Bahamas exploring ‘early introduction’ of CBDC
Move could test currency’s emergency features in aftermath of hurricane Dorian, governor says
Vocalink wins further decade of UK ATM operations
Aim will be to ensure ongoing access to cash, says Gregor Dobbie
Facebook not trying to replace central banks, claims Zuckerberg
Facebook chief plays down economic impact and says libra can help fight financial crime
Bank of Canada picks MindBridge for AI fraud detection trial
Trial under central bank’s ‘Pivot’ scheme will test artificial intelligence for payment fraud detection
Argentina and Paraguay approve cross-border payments
All members of Mercosur trading bloc now have bilateral cross-border payments accords
Central banks should consider wholesale digital currency – BdF deputy
Markets’ “tokenisation of financial assets” risks creating disorderly infrastructure, Beau says
FSB raises pressure on stablecoins as firms abandon libra
Several major payment firms have distanced themselves from the project amid intense regulatory scrutiny
The future of cash: an update
Antti Heinonen looks at the latest trends in cash use, including a surprising turnaround for the Swedish krona
Big tech: a threat to banks?
The explosive growth of financial services offered by big tech companies in China offers important lessons
BSP’s Diokno on forward guidance and cutting reserves
The Central Bank of the Philippines governor speaks to Christopher Jeffery and Alice Shen about fintech, efforts to wean Asia off the US dollar, and why he wants to cut policy and reserve requirement rates
Swedish state needs to face dangers of falling cash use, Riksbank says
Marginal role for the state in payments could weaken competition and trust, central bank argues
Albanian central bank introduces first polymer notes
Governor calls on parliament to approve draft law on improving payments systems
Seven threats from big tech’s libra
Can central banks avoid a ‘big tech’ monetary meltdown?
Kansas Fed’s George defends proposed instant payments system
Former FDIC head Bair warns current payment systems could fail “catastrophically”
Finnish paper looks at Chinese currency swap agreements
Bilateral swap agreements increase settlement of trade transactions in renminbi – researchers
Regulators should embrace digital ID
The lack of a single ID in financial services is causing unnecessary friction, argues Dave Birch
Bank of Israel grants digital bank licence
Israel joins growing list of jurisdictions permitting online-only financial services
Central banks urged to adopt DLT-based CBDC
Industry figures argue central bank money is needed for token-based securities settlement, but central bankers are sceptical