Credit cards
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
Businesses less willing to accept cash payments – Atlanta Fed
Increasing number of businesses are becoming reluctant to accept low-value cash payments
UK lawmakers ‘satisfied’ with Visa response to outage
Visa has promised an independent inquiry into the incident that saw 5.2 million payments fail; firm reveals details of its recovery efforts
UK card transactions surpass cash for first time
Report shows card transaction volume was marginally higher than cash in 2017
Cash usage unlikely to disappear – Atlanta Fed
Universal access, in-person shopping and preference among low-income groups support cash
Visa outage highlights fragility of electronic payments
European network experiences outage for several hours on June 1, due to hardware failure; consumers forced to withdraw cash to make payments
Cash usage in Switzerland below eurozone average – SNB survey
SNB’s first payments study finds 70% of transactions processed in cash in 2017
UK’s FCA to act on banks using overdrafts as revenue source
Regulator proposes rules to improve transparency around the cost of credit, with plans to ban fixed fees if necessary
Lack of demand reducing cash use in Sweden – analysts
Riksbank paper says technological change is rapidly changing payment patterns in the country
Growth of US remote payments outpaces in-person transactions
Remote transactions grew faster in volume and value than in-person payments in 2016
Official inquiry finds ‘evidence of misconduct’ by Australia’s largest banks
Four largest banks may have continuously breached credit issuance legislation
Thailand set to approve banking agents amid inclusion push
Financial inclusion effort means people can take deposits, transfer money and pay bills at banking agents, such as small merchants and post offices
Macao turns to facial recognition to fight money laundering
Chinese tourists now have to verify their identities in order to withdraw cash at most ATMs in the casino hub
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency
Riksbank simulates a payments crisis scenario
Central bank deems offline payments and withdrawals a suitable alternative to credit cards
Bank Indonesia targets fintech firms with new anti-money laundering rules
The new regulation is applicable to non-bank financial services, money changers and fintech firms
Philadelphia Fed launches new research institute
Research body is tasked with better understanding consumer behaviour, particularly in relation to financial markets
BIS payment stats to embrace non-banks and faster payments
New methodology acknowledges role fintech has played in reshaping payments landscape; contactless payment data to be included