Payments
Central banks shift focus to retail CBDCs
Central Banking survey reveals shift away from wholesale experimentation, as central banks consider whether the general public should be able to hold CBDC accounts
The Central Bank Digital Currency Survey 2020 – debunking some myths
Most central banks believe there are retail uses for central bank digital currencies, but few plan to launch a CBDC in the coming five years, with most rejecting the use of blockchain
Payment giants ask EBA for PSD2 extension
Covid-19 disruption puts strong customer authentication deadline in doubt
Cash usage decreases as confidence in banks rises – research
Research included in MAS review flags importance of psychological factors in cash usage
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
FedNow: the road to non-bank access to US instant payments
Debate over granting non-banks access to Fed systems reveals possible flaws in US regulation
Argentina’s central bank takes part in blockchain clearing pilot
Test system will use smart contracts with timestamping from the bitcoin blockchain
Cash usage falls further in Netherlands
Study shows contactless payments are the main driver away from cash payments
Regulators must enforce stronger payment data protection – CPMI
Payment oversight needs to be updated to accommodate fintech firms and protect consumers
FSB outlines 10-point plan for tackling global stablecoin risks
Some powers already exist but stablecoins may cut across regulatory boundaries, report says
MAS promotes e-payments amid pandemic
Central bank launches campaign for PayNow and universal QR code
Beware of capital: much ado about nothing?
Capital increases can be offset by asset valuation, provision and income recognition forbearance
Crises enliven ‘totalitarian temptations’
The coronavirus pandemic will embolden governments and bodies such as the International Monetary Fund to grasp for more power, writes Steve Hanke
BoE poll signals convertibility is key to CBDC demand
CBDC does not need to be built on DLT network, BoE says
Bank of Korea launches CBDC pilot
Bank of Korea starts 22-month CBDC test in preparation for future needs
Covid-19 could accelerate CBDC development – BIS economists
Fear could promote use of CBDCs but data is yet to point to whether cash demand has changed
Riksbank picks ECB’s Tips for instant krona settlement system
Central bank preparing system for round-the-clock settlement in Swedish krona
HKMA staff to get 2.5% pay increase
Senior staff, including chief executive Eddie Yue, request pay freeze
Podcast: inside Brazil’s new instant payment system
New system seeks to boost financial inclusion with coverage of accounts and mandatory participation
Bank of Portugal removes limits on credit card use
Central bank issues new regulation to encourage the use of electronic payments
Qatar Central Bank unveils mobile payments system
Central bank launches “new and safe method” for electronic payments
Banque de France seeks partner for wholesale CBDC project
Project will explore CBDC use cases in interbank payment space
IMF releases first emergency Covid-19 funding to Kyrgyz Republic
Country is battling with balance-of-payments gap of $400 million
Contactless payment limit to rise in the UK
National roll-out of new limit will begin in April, but will take time, says industry body