Payments News

On The Web

nbsp;

Regulation

Budget 2020: Chancellor Set to Protect Access to Cash Under New Laws

“The chancellor is set to commit to new laws to protect the future of cash in next week’s budget, which comes as bank branches and free-to-use ATMs are disappearing from the high street. Rishi Sunak’s measures will aim to ensure people who rely on cash, including vulnerable groups and local communities across the UK, can […]
nbsp;

Regulation

Central Banks Urge G20 to Back Cheaper Payments `roadmap’

“The BIS wants Group of Twenty (G20) leaders to get behind the plan, which is being drawn up regulators, central banks and treasury officials from across the world and will lay out steps to improve a payments system hindered by high costs. Political will is needed to create conditions for cheaper cross-border payments that are […]
nbsp; nbsp; nbsp; nbsp; nbsp;

Regulation

Banks Urged to Issue More Small-Dollar Loans in Response to Outbreak

“Banks should re-enter the business of offering short-term, small-dollar loans to cash strapped-customers in light of the outbreak of the coronavirus , a group of regulators said on Thursday. The move, announced in a joint statement of the Federal Deposit Insurance Corp. and a group of other regulators, marks an effort to revive a riskier […]
nbsp;

Global

Russian Prime Minister Introduces Bill to Allow Fintech Sandboxes, Blockchain Included

“Introduced in a new bill on March 17 by Prime Minister Mikhail Mishustin, the plan does not directly mention blockchain or cryptocurrencies, but an explanatory note mentions distributed ledger as one of the technologies that could be explored in the new “experimental regulatory regimes.”  Such regimes can be established to live-test the new technologies in […]
nbsp;

Regulation

UK Raises Contactless Transaction Limit by 50%

“The spending limit for contactless card payments in the UK is being increased from £30 (US$35.33) to £45 (US$52.99), UK Finance has announced. The new spending limit will begin to roll out from 1 April 2020. “The changes were already under consideration by the industry, but the process has been expedited as part of the […]
nbsp;