Credit cards
European Commission floats proposal to cap fees on credit card transactions
EC says retailers will make big savings by paying lower fees to their banks, and consumers will benefit through lower retail prices as a result of new regulation
Card fraudsters abandoning ‘safer' Europe for more vulnerable markets, says ECB
Payment fraud is declining steadily in Europe thanks to technology advances; numbers are 'small compared to other kinds of fraudulent activities', expert says
RBA considers overhaul to card access regimes
Reserve Bank of Australia launches consultation on whether to change or revoke rules governing access to credit and debit card systems – which might allow the RBA itself to acquire cards
ECB’s Cœuré highlights US and Europe payments division
Executive board member Benoît Cœuré says credit cards play a larger role in the US payments industry; identifies benefits of expanding European debit card usage
RBI’s Padmanabhan on technology in the financial sector
Reserve Bank of India executive director sets out where technological change has improved financial services and where it still can
Dallas goes mobile with financial education
The Federal Reserve Bank of Dallas launches a mobile app designed to help people manage their money
ECB’s Cœuré concerned about online card fraud
Benoît Cœuré says greater innovation is needed in the internet payments market
Fed paper finds benefits in card networks’ price discrimination
Study finds the use of linear ad-valorem fees is capable of improving social welfare
High merchant fees may produce sub-optimum payments usage, says Fed paper
Federal Reserve Bank of Richmond working paper finds high merchant fees could be preventing payments markets from maximising consumer welfare
RBI official highlights stumbling blocks to ‘less-cash society’
G Padmanabhan says the development of prepaid transactions in India is ‘not very heartening’ despite non-banks being admitted into the market
State Bank of Vietnam forms payments advice board
New board will advise central bank governor on payments issues; will conduct research and make proposals for ways to improve Vietnamese systems among other duties
RBA paper explains shift in ATM usage
Research paper from Reserve Bank of Australia analyses impact of 2009 ATM reforms; finds increased transparency has driven consumers away from ‘foreign’ machines
RBA makes progress with card surcharging guidelines
Industry calls on Reserve Bank of Australia to provide “more prescriptive” guidance than draft rules issued in June; final version set to be published in October
Reserve Bank of Fiji grapples with credit card surcharge decision
Fijian central bank looks to Australian experience of updating rules regarding credit card surcharges; weighs up benefits of allowing additional charges ahead of final decision this month
ECB reports decline in card fraud
First oversight report of card payment schemes in Sepa shows decline in fraud since 2007; lauds technological advances including chip and pin use for increasing the security of transactions
RBA ends 'excessive' card surcharges
Australian central bank publishes final reforms for surcharging standards for payments by credit and debit card in the country; allows “reasonable” charges to continue
RBA outlines payments system development plan
Australian central bank sets out areas of priority for advancing the payments system in the country; concludes two-year review process
Norges Bank assesses payments system
Annual Report on Payment Systems 2011 finds speed of payment transactions to be lacking; system in general is nonetheless efficient says deputy governor
RBA governor criticises ‘dated’ payments systems
Glenn Stevens warns Australia has fallen behind other countries by not offering real-time electronic transfers; notes task the central bank faces in matching improved global regulatory environment
Swift chooses head of marketing as new chief
Gottfried Leibbrandt confirmed as successor to Lázaro Campos at global financial communications, products and services company
ECB calls for comments on payments system security recommendations
Public consultation opens on payments system recommendations from European Forum on the Security of Retail Payments; changes relate to areas of concern regarding internet payments
Philadelphia Fed launches consumer credit and payments web pages
Research and statistics on consumer credit and payments now displayed on separate web page; includes searchable publications library and access to podcasts
Sepa end-date set in stone following final vote
European Parliament passes legislation imposing a February 1, 2014 deadline for migration to Single Euro Payments Area after regulation receives overwhelming support of MEPs in Brussels
Boston Fed investigates effects of credit scores on payment choice
Discussion paper finds evidence to back anecdotes that debit card use is negatively impacted by poor credit scores