Mobile banking
Singapore to step up consumer protection on e-payments
Banks must offer users better protection measures, but users could also face fines for recklessness or carelessness
Australia’s real-time payment system goes live to the public
System built by Swift will process payments in less than a minute and will utilise new PayID technology; Osko is first application launched on new platform
PBoC ramps up regulations for QR code payments
Transactions made by QR code capped and reserve requirements increased, as PBoC seeks to crack down on payment risks
National Payment Gateway launched in Indonesia
New national platform to consolidate fragmented infrastructure, reducing costs and improving efficiency
Singapore broadens push into e-payments
Singapore expands payments regulation frameworks and launches a common QR code for e-payments
Hong Kong seeks mobile wallet capabilities in China
Authorities in drive to ensure Hong Kong mobile phone e-payments work in China; faster payments roll-out due next year but no urgent rush to go cashless, says HKMA official
Payments overhaul under way in Aruba
Central bank to give up clearing responsibilities to oversee new payments infrastructure; consumer behaviour will be a challenge, bank says
Uruguay launches digital currency pilot
10,000 users will have access to the network, run in conjunction with the state-owned telecoms company and national payments system
Kenya’s digital transformation
The use of innovative digital financial services has transformed financial inclusion in Kenya, writes the chairman of the Central Bank of Kenya
Uruguay’s digital currency pilot ‘close to launch’, says governor
Central bank’s initiative will allow the public to access digital currency via mobile wallets; Ecuador’s prototype proves a flop
BoE economist discusses danger of ‘virtual’ bank run
Faster payments and rise of smartphone technology have made it possible for consumers to drain commercial banks without having to leave their homes, official says
Israeli survey highlights benefits from ‘digital revolution’
“Tremendous changes” in the banking system are likely to benefit households and small businesses, the central bank says, while stability is also improving
Income inequality should be a concern for central banks – IMF panel
IMF panel debates impact of unconventional monetary policy on income inequality, concluding institutions should be more aware of policy effects on income disparities despite no specific mandate
Website of the year: Central Bank of Kenya
The East African central bank has embraced responsive design to cater for an increasingly mobile audience, eclipsing the websites of many peers
Weidmann urges central banks to promote economic and financial literacy
Financial literacy is crucial in underpinning trust in central banks, German governor stresses; advancements in technology will help to boost financial inclusion
Bank of Japan to launch new website in time for 2017
New responsive design will include information from the old site displayed in new format; central bank has set second launch date in case of “delays”
Bank Negara Malaysia’s new site draws on award-winning designs
Responsive new site launched after in-house team conducts benchmarking exercise on award-winning central bank sites; head of electronic communications explains the evolutionary process
Payments changing fast but cash still in demand – Riksbank survey
Telephone survey finds cash use declining and mobile payments on the rise, though demand for paper money not likely to disappear any time soon
RBI’s Gandhi hails ‘silent revolution’ in payments
Incremental growth has revolutionised payments, deputy says, with more initiatives such as unified mobile payments interface set to deliver further change
Ghana drafts first electronic payment regulation
New regulation will apply to banks and other financial institutions wanting to provide electronic money services; draft to be passed to parliament after a period of consultation
Financial inclusion in Rwanda rising, central bank report says
ATMs and mobile money has helped reduce the number of those financially excluded, governor says; banking sector starting to benefit but high proportion of NPLs in some sectors is a concern
Nepal Rastra Bank broadens electronic payments oversight
Banks and financial institutions will have to re-register with the bank under new licensing law; central bank hopes reform will support more non-banking institutions and new payment transactions
MAS looks to overhaul payment systems
City state already has access to some of the world’s most advanced payment systems, but cash and cheque use remains high; MAS hoping to improve governance, regulation and technology
Solomon Islands’ Rarawa praises ‘innovative’ financial inclusion plans
Financing initiative for coconut industry promises to extend “digital banking penetration” in the Pacific nation, governor says