Payments
Danish faster payments system sees limited uptake
Danish central bank annual report on payments systems finds disappointing uptake of an offer to settle customer payments faster; says CPSS/Iosco compliance should be ensured
Euro Retail Payments Board sets out work plan in wake of Sepa migration
The board creates two working groups in its first meeting; one on post-migration issues, the other on finding Europe-wide solutions for securing electronic mandates for direct debits
New Zealand securities settlement system could go private
Reserve Bank of New Zealand issues public consultation on future of two major settlement systems; NZClear could be separated from Esas and moved into private sector
Riksbank appoints two senior managers
Appointments to human resources and cash and payment systems sections follow establishment of three new departments on March 1
Richmond Fed study shows 'dramatic crossover' in payment methods of US citizens
Study evaluates Fed data tracking 2,500 participants making close to 13,000 payments during three days in October 2012, shows many seniors sticking to mail as main payment method
Target2 'filled in' balance of payments gaps during euro crisis, NY Fed paper finds
Federal Reserve Bank of New York study finds adjustment to the pullback of private capital during the euro crisis made less harsh by Target2
RBA takes next step in opening up payments market
Shake-up of access regimes aims to give more room for competition in the Australian payments market; proposed changes still need amendments to legislation to go ahead
Europe card fraud up after five-year decline, ECB data show
Growth in online shopping blamed for increase in card payments fraud, which totalled €1.33 billion within the Single Euro Payments Area in 2012 - up 21% on the previous year
Singapore unveils faster payments service
The Association of Banks in Singapore says ‘almost immediate’ payments service for interbank transfers will launch in the middle of the year
Nigerian RTGS joins Swift
The country's adoption of the global payment platform yesterday is expected to improve settlement security and discourage the use of cash payments in the longer term
Central Bank of Oman's Hamood Sangour Al Zadjali on the dollar, financial stability and Islamic finance
The Central Bank of Oman remains committed to the dollar as it moves to improve governance, liquidity management and Islamic finance in the sultanate, its executive president tells Chris Jeffery
Rajan looks to mobile banking for financial inclusion
Reserve Bank of India governor says that India is not ‘where it should be’ on mobile payments and calls on telecom firms to help drive the proliferation of cheap and safe payments
ECB ‘strongly supports’ new payments directive
The European Central Bank gives its backing to a new payments directive that aims to create a more integrated European market for electronic payments
Riksbank unveils organisational shake-up
Three new units streamlining asset management and payment operations will come into being on March 1; also announces transfer of Skr3.3 billion to Treasury
Fed proposals for updated payments system meets with mixed response
Some industry practitioners tell Fed it should move faster on payments reform, though others argue if it isn't broken, don't fix it
Dutch paper finds Germans ‘substantially more cash oriented’ than other nationalities
Researchers consider why cash is still ‘heavily used’ for low-value payments in Europe; attributes German consumers' continued use of cash to ‘precautionary’ reasons
Payments and clearing technology provider of the year: VocaLink
VocaLink has excelled by building the infrastructure for a new accounts switching service in the UK and exporting its pioneering Faster Payments platform overseas
Major international banks join UK's high-value payment system
BNY Mellon, ING Bank, Northern Trust, BNP Paribas and Société Générale have until now participated in Chaps indirectly, in an arrangement criticised by the Bank of England
Two-thirds of US non-cash payments by card, but cheques persist
Payments by credit and debit cards grew nearly 8% annually between 2009 and 2012, according to new Fed data; 122.8 billion non-cash payments made in 2012, worth $79 trillion
ECB launches online competition to familiarise citizens with new €10 banknote
Players have to uncover four security features and also guess the number of euro banknotes in circulation in the euro area on December 31, 2013; new note unveiled on January 13
HKMA launches ‘hassle-free’ electronics payments platform
Hong Kong Monetary Authority says the platform will enable the general public to receive, manage and schedule electronic payments in three different currencies through one portal
Pakistan deputy wants new data protection laws for payments
Ashraf Mahmood Wathra welcomes the ‘innovative banking practices’ driving financial inclusion but says data protection must keep pace
Philippine governor touts country's microfinance expansion
Amando Tetangco outlines ways in which the central bank has facilitated developments; says recent catastrophe underscores the need for 'microinsurance'
Design of Norwegian banknotes charts new waters
Norges Bank reveals upcoming banknote series will share a maritime theme, reflecting the country's 83,000km coastline; notes will not feature human portraiture