On The Web

nbsp;

Global

New Aussie Money App to Help Kids Learn About Digital Money

May 18 2022

• in
• Australia

“Thousands of families across Australia are set to try out Kit, a new CommBank-supported money app that could revolutionise how kids learn to earn, save, spend, and manage money, in the digital economy. The app has been launched today as a trial by x15ventures (CommBank’s venture arm), as new research highlights the increasing difficulties parents […]

nbsp;

Global

Safaricom is Working on M-PESA Visa Virtual Cards For International Payments

May 13 2022

“As more and more people open themselves up to the idea of international business, there comes the need for a reliable payment platform that works well. Of course, PayPal, Skrill and other players are serving this need but more could be done. In Kenya, M-PESA is a household name when it comes to mobile payments […]

nbsp;

Global

Artificial intelligence: MEPs Want the EU to be a Global Standard-Setter

May 13 2022

“The text, adopted with 495 votes to 34, and 102 abstentions, says that the public debate on the use of artificial intelligence (AI) should focus on the technology’s enormous potential to complement human labour. It notes that the EU has fallen behind in the global race for tech leadership. There is a risk that standards […]

nbsp;

Global

Nigeria’s Cryptocurrency Problem has Central Bank Scrambling

May 12 2022

• in
• Africa

“When early in April the Central Bank of Nigeria (CBN) penalised six top banks a total of N1.3bn ($3.1m) for violating its directive against facilitating transactions in cryptocurrencies, it was the latest sign that the country’s crypto problem won’t easily go away. Access Bank got the biggest fine of N500m, followed by FCMB with N400m […]

nbsp;

Global

EU Commission Favors Ban on Large-Scale Stablecoins, Document Shows

May 11 2022

“The European Commission is considering hard curbs on the ability of stablecoinsto become widely used in place of fiat currency, according to a document seen by CoinDesk. Officials appear to be siding with the views of European Union finance ministers, who have proposed tough measures aimed at stopping the likes of Facebook’s now-abandoned libra stablecoin […]

nbsp;

Global

Why Crypto’s Rough Year In India Just Got Worse

May 11 2022

• in
• India

India’s latest decisions governing cryptocurrency portend turbulent times ahead for the country’s nascent but booming digital currency industry. During its launch event in India on April 7, American cryptocurrency giant Coinbase announced that its Indian investors would be able to use the country’s popular online payments system, UPI, to transfer funds to its local exchange. […]

nbsp;

Global

China to Accept Digital Yuan on Public Transport in 12 Cities

May 10 2022

• in
• China

“The tech-savvy people of China will now be able to enjoy a more convenient life in Guangzhou, where public transport tickets can be purchased via China’s digital yuan app. China is the country that first issued a digital version its national currency. It will now be offered in 23 cities. Because it is digital currency […]

nbsp;

Global

UPI Transactions Reaches New Heights with 5.58 Billion in April 2022

May 9 2022

• in
• India

According to information provided by the National Payments Corporation of India (NPCI), 5.58 billion transactions were processed using the Unified Payments Interface (UPI) in April 2022. This is the most extensive number of UPI transactions in a single month since the system was launched in 2016.  Last month, the payments network saw transactions worth Rs. […]

nbsp;

Global

Fewer Online Card Frauds Since New Payment Checks Introduced, says Nationwide

May 9 2022

“Britain’s biggest building society is seeing around 2,000 fewer cases of online card fraud per month following the introduction of new industry payment checks to protect shoppers. The strong customer authentication (SCA) requirements were fully rolled out in March. Because of these, people shopping online may find they are asked to verify a purchase via […]

nbsp;

Global

UK’s Digital Watchdogs Take a Closer Look at Algorithms as Plans Set Out for Year Ahead

May 9 2022

• in
• UK

“This “algorithmic processing” is commonplace and often beneficial, underpinning many of the products and services we use in everyday life. From detecting fraudulent activity in financial services to connecting us with friends online or translating languages at the click of a button, these systems have become a core part of modern society. However, algorithmic systems, […]