Payments News

On The Web

nbsp;

Systems

Facebook’s Libra Cryptocurrency ‘Will Be Blocked in Europe’

“France has said it will block the development of Facebook ‘s Libra cryptocurrency as it poses a threat to “monetary sovereignty”. At the opening of an OECD conference on cryptocurrencies, French Economy and Finance Minister Bruno Le Maire said: “I want to be absolutely clear: In these conditions, we cannot authorise the development of Libra […]
nbsp; nbsp;

Systems

Facebook Sees Libra Tied to Dollar, Euro, Yen But Maybe Not Yuan

“Facebook Inc. told U.S. senators that the initial basket of currencies that will back its Libra cryptocurrency will likely include the U.S. dollar, euro, yen, British pound and Singapore dollar.    The list responds to concerns from Virginia Democratic Senator Mark Warner that China may push the Libra Association to include the yuan in the […]
nbsp;

Systems

Amendment to the Maximum Amount Per SCT Inst Transaction to 100,000 Euros

“On 10 September 2019, the  Scheme Management Board (SMB) – the body responsible for the administration and evolution of the  Single Euro Payments Area (  ) payment schemes, decided to amend the maximum amount per  Instant Credit Transfer (  Inst) transaction to 100,000 euros, effective as of 1 July 2020. For the time being, the maximum amount an Originator can transfer via a single  Inst […]
nbsp; nbsp;

Systems

Wells Fargo to Pilot Dollar-Linked Crypto for Internal Settlement

“U.S.-based financial giant Wells Fargo is developing a U.S. dollar-linked stablecoin that will run on the firm’s first blockchain platform. Dubbed Wells Fargo Digital Cash, the tokenized dollar will be used in a pilot initially for internal settlement across the company’s business. The firm said in a press release on Tuesday that the digital token […]
nbsp; nbsp; nbsp;

Domains

Treasurers See Plenty of Use Cases for Real-Time Payments, And They’re Writing Fewer Checks

“Corporate treasurers can identify numerous use cases for real-time or otherwise faster payments, but they do worry about transaction security, according to the Association for Financial Professionals. Some 60% of respondents surveyed in the AFP’s newly released 2019 payments study said business-to-business transactions will benefit the most from faster and real-time payment systems, with consumer-to-business […]

On The Wires

nbsp;

Systems

WePay Launches Same-Day Deposits to Chase Bank Accounts at No Additional Cost

“The new functionality will help tens of thousands of U.S. small businesses that use platforms like BigCommerce and Xero to get paid faster. It also showcases the combined capabilities of a Silicon Valley financial technology company joining one of the world’s largest, most admired financial institutions. JPMorgan Chase acquired WePay in December 2017. Same-Day Deposits […]