Payments
Innovation for real-time payments and settlements
Financial and institutional banking have undergone a transformational technological shift, meaning working in real time is increasingly commonplace. This is not the case for payments and settlement, which can still take days. Baton Systems explores how…
Fintech and risk: what does the future hold?
Five key areas where regulators need to make judgements on fintech risks
Carstens warns of ‘serious consequences’ from retail CBDC
BIS chief envisages system with wholesale digital currency alongside private retail payment systems
Central banks face loss of independence – Central Banking survey
A new survey of Central Banking’s Editorial Advisory Board points to central banks facing existential challenges with little change in their frameworks or toolkits
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
World Bank official says blockchain could cut settlement times
Official says first blockchain bond shows the technology's potential
Central banking’s 30-year cycle
Central banking has hit another crossroads, writes Central Banking founder Robert Pringle
IMF’s Adrian on the big tech threat and why a ‘non-system’ works
The IMF’s financial counsellor speaks about risks from big tech’s move into fintech, the fund’s efforts to craft well-targeted policy guidance and why the current international monetary ‘non-system’ works
PBoC says new digital payment system is almost ready
New electronic payment system will use double-layer framework for digital currency
Central banks need better crypto asset data to contain risk – ECB research
Links between crypto assets and regulated financial sector may increase and challenge regulatory frameworks; ECB creates own database
Fed aims for 24/7 instant payment system in US
FedNow Service should be available in 2023 or 2024, and Fed promises upgrade to existing systems
RBNZ publishes new FMI regulation bill
Proposal would enhance central bank’s ability to hold market participants to binding standards
Powell says Fed will decide on 24/7 RTGS system ‘soon’
Fed under pressure to act amid flurry of legislative activity around payments
Costa Rican banks to adopt IBAN by October
Adopting international standard will modernise payments system, central bank says
Oman finalises plan to modernise payments
Central bank hopes to bolster fintech within the country
Cambodia launches blockchain-powered payment system
Central bank hopes to reduce money transfer costs and improve financial inclusion with the mobile-based system
Ripple attempts to pacify US regulators after libra hearings
Payments service provider says crypto assets would be complementary to dollar
Cash usage keeps falling in Netherlands
In 2018, 37% of purchases were paid for in cash, down from 41% in 2017
Swift says Singapore trial cut cross-border payment times
Network argues existing payments systems can be used for cross-border transfers
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
Zimbabwe relying on central bank to keep lights on
$14 million needed to keep power flowing, and debts are piling up, says energy CEO
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC, as officials voice concerns over Facebook’s Libra
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
Belize starts charging banks for payment processing
Central bank had previously shouldered the cost of the payment system