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Global

Brazil Banks Do Not Lose Money With Pix, Says Central Bank

“Brazil’s central bank chief Roberto Campos Neto said on Thursday it is not true that banks lose money with the Pix instant payment system, launched by policymakers in late 2020. Speaking at an event hosted by Brazil’s banking lobby group Febraban, he acknowledged Pix affected revenues to some degree, since in the past banks charged […]
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Global

Open Banking Oversight Committee Takes Next Step with Creation of Working Group

“Bryan Zhang, the co-founder of the Cambridge Centre for Alternative Finance at the University of Cambridge Judge Business School, will head up the strategic working group for the oversight of open banking. The UK has moved another step closer to a clear vision of the open banking Oversight Committee with its latest appointment.   Bryan […]
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Global

Apple Pay Launches in Malaysia

“Apple today announced customers in Malaysia can now use Apple Pay with their iPhone, Apple Watch, iPad, and Mac. The easier, safer, and more secure way to pay for everything in customers’ daily routines is available in-store at leading retailers, in apps, and on the web. Apple Pay brings added speed and convenience to users’ […]
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Global

Australia Has Moved Beyond The Need For Money

“When’s the last time you paid for something using physical money? For many of us, particularly in Australia, it’s a tough question to answer. Thanks to the proliferation of online banking, contactless payments and even cryptocurrencies, fewer and fewer transactions are being made with cash. This trend has only accelerated during COVID. According to the Reserve […]
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Global

Chinese Municipal Bank Issues First Digital Yuan Loan Holding IP as Collateral

“China’s central bank digital currency (CBDC) pilot testing continues to onboard new use cases for the digital yuan. The country has now recorded its first instance of Intellectual Property (IP) financing on the CBDC platform. The Rural Commerce Bank of Zhangjiagang, located in China’s Suzhou province, has issued the first-ever digital yuan loan backed by […]
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Global

Saudi Arabia Among Top Countries Globally for Contactless Payment Adoption: Visa

“Saudi Arabia is among the top markets globally for contactless payment adoption, with nine in 10 transactions made with contactless cards or devices throughout the Kingdom, according to digital payments giant Visa. In line with Saudi Vision 2030’s goal to reduce the country’s reliance on cash, Saudi Arabia has made great strides in near-field communication adoption, […]
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Global

Reserve Bank and Digital Finance Cooperative Research Centre to Explore Use Cases for CBDC (Australia)

“The Reserve Bank is collaborating with the Digital Finance Cooperative Research Centre (DFCRC) on a research project to explore use cases for a central bank digital currency (CBDC) in Australia. Considerable research has been undertaken by central banks, including the Reserve Bank, into the feasibility and possible technical design of CBDC, in particular exploring the […]
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Global

NRIs Can Pay Utility Bills Using Bharat Bill Payment System (India)

“The Indian diaspora will soon be able to pay utility bills and other recurring payments like fees using the Bharat Bill Payment System (BBPS), the Reserve Bank announced on Friday. The RBI made it clear that the move is not driven by the need to attract more remittances at a time when the domestic currency […]
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Global

Pix is Now Second Payment Type in e-Commerce (Brazil)

“The use of Pix in Brazil’s major online stores has again reached an all-time high level, and now the instant-payment system created by the Central Bank shares with boleto, a banking bar-coded bill for cash payments, the second position among the most available payment methods in e-commerce, according to Gmattos’s most recent payment study. The […]
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Global

Telebirr Launches Credit, Saving, Overdraft Services

“Ethio Telecom has launched its long-anticipated micro-credit and saving scheme through its Telebirr mobile money platform. The state-owned telecom operator, in partnership with Dashen Bank, launched Telebirr Mela, Telebirr Sanduk, and Telebirr EndeKise, today at Skylight Hotel, August 5, 2022. Telebirr Mela is a microloan service that allows users to take out small loans without collateral […]