Payments
All Cuban businesses must offer electronic payments, says ministry
New rule is part of government’s response to ‘critical’ shortage of cash
BoE wants stablecoins fully backed with central bank deposits
Systemic stablecoins would have to back issuance with unremunerated deposits
Mexico implements emergency cash plan after hurricane
Banxico authorises banks to suspend minimum payments on credit cards
Hong Kong and Thailand to set up cross-border payments link
New QR code payment link is the latest addition to similar initiatives in the region
MAS tests upgraded unified QR code system
New code could allow merchants to accept different QR payment methods more easily
‘Digital pound’ needed as cash successor, says BoE’s Cunliffe
Departing deputy governor says CBDC could be necessary by decade’s end
China sets up renminbi clearing bank in Laos
New currency clearing arrangement is China’s fifth in South-east Asia
Fed proposes lowering permitted debit card fees
Proposal draws ire from Michelle Bowman and banking trade associations
Swedish parliament urged to reinforce legal status of cash
“More consumers and businesses need access to payment accounts,” says Riksbank governor
Remittances to Mexico reach record high, says Dallas Fed
Researchers say strong US construction sector fuels funds transfers
E-krona could boost competition and safety, say Swedish retailers
Riksbank analyses consumers and retail traders payment preferences
Public trust: the role of the private sector in exploring digital currency
Digital currencies that effectively protect financial privacy in lawful transactions will garner enduring confidence in the highly integrated networks of the future, argue J Christopher Giancarlo and Daniel Gorfine
EU data protection bodies raise concerns about digital euro
EDPB and EDPS request central bank explain how it will process and protect data
Egypt restricts foreign currency credit card payments
The move comes after the central bank restricted debit card use abroad
CPMI seeks better governance of fast payment links
Committee embarking on project to build supporting framework for FPS links
ECB launches digital euro preparation phase
Phase includes CBDC rulebook and selection of providers, as well as testing
DeFi could improve payments and settlement – BoC research
Inefficient legacy systems hamper the smooth completion of these operations
Central Bank of UAE launches new 24/7 instant payments system
Immediate Payment Instructions launched in 2019 gained limited traction
CPMI pushes for harmonised cross-border payments data
Launch of minimum standards aims to tackle risk of inconsistent ISO 20022 messaging
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
FedNow – at last
The instant payment system might help fix the US’s rusty payment rails, but it also faces competition, says Dave Birch
Somalia’s Abdullahi on the challenges of re-integration with the international system
The Central Bank of Somalia governor speaks about capacity building, reintroducing the shilling, securing donor support and climate change
BIS Innovation Hub takes aim at cross-border compliance
Project Mandala will explore ‘compliance by design’ to boost efficiency of cross-border transactions
New payments rule incites controversy in Argentina
Retailer and former central bank officials allege regulation shields banks from competition