Payments
Vanuatu launches new automated payments network
Island nation opens interbank rails and central securities depository
RBA says CBDC decision is likely ‘some years away’
Australian central bank says a CBDC might improve payments system but also questions its necessity
Cambodia and Laos launch cross-border payments link
Travellers from the two countries will be able to shop in their home currencies using QR codes
Custodia opens for business without Fed master account
Wyoming digital assets bank is continuing legal action against the US central bank
Cuba central bank official says cash shortage is ‘critical situation’
Banks struggle to meet demand as government tries to expand use of e-payments
US credit card debt passes $1 trillion for the first time
NY Fed says credit is stabilising at pre-pandemic levels despite historic figure
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
Cuba limits cash transactions and ATM access
Central bank measure provokes scepticism and concern
Nicaragua considers joining Mir network
Finance minister says Russian cards will overcome “aggression” of sanctions
MAS to replace corporate cheques with deferred payment system
Singapore will move to new system by 2025 amid falling usage and rising processing costs
Banque de France says printworks are going ahead
Staff end strike as central bank agrees to appoint ergonomist to help in design of new plant
Digital yuan transactions growing rapidly, PBoC says
But Yi Gang notes prototype CBDC currently takes up a very small share of cash in circulation
Russia’s Mir cards now working in Venezuela
Russian payment cards advance in Latin America, but get sanctioned by Canada
US instant payment system FedNow goes live
Mester says service could handle P2P, cross-border, and interoperable payments
UAE and India to create bilateral settlement system
Messaging link would remove need for Swift, RBI governor says
Nigerian central bank caps contactless payments
Move limits consumers’ daily contactless payments to $66
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Austria introduces new clearing service
Central bank welcomes lender-owned company’s oversight of new system
Payments Benchmarks 2023 report – moving money in shifting conditions
Data reveals differences in CBDC paths, RTGS systems, instant payment plans and budgets
Central Bank of Oman launches 24/7 RTGS
Oman will be connected to payment systems across the Arab world via AFAQ and Buna systems
Bank of England adopts ISO 20022
Businesses and consumers may have more data input options by year’s end
Foreign de-risking keeps Somali banks isolated, governor says
Central Banking Summer Meetings: Somalia needs to rejoin world finance system after payments success
Median RTGS system processes nearly $100bn annually
Median value of payments rose by $15bn from the previous benchmark