Payments News
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On The Web

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Reports

Cash Trends in the Modern World

“Cash as a payment medium is alive and well, even if it is slowly decreasing as a proportion of total payments. Cash’s share of total payments has declined, on average, 1 to 2 percentage points each year since 2015, when we began conducting DCPC studies regularly. The latest DCPC shows cash is the second most […]
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Companies

House Lawmakers Officially Ask Facebook to Put Libra Cryptocurrency Project on Hold

“House Democrats are requesting Facebook halt development of its proposed cryptocurrency project Libra, as well as its digital wallet Calibra, until Congress and regulators have time to investigate the possible risks it poses to the global financial system . Rep. Maxine Waters (D-CA), the chairwoman of the House Financial Services Committee, hinted at a move […]
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Systems

Facebook’s Libra Is Spurring Central Banks’ Interest in Issuing Cryptocurrency

“The Bank for International Settlements (BIS) in Basel, Switzerland is the bank for global central bankers. It’s the stodgiest of stodgy institutions, in other words, and it’s been slow-moving when it comes to cryptocurrency. Now it appears to be picking up the pace, however, spurred by Facebook’s announcement this month that it plans to issue […]
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Systems

Coinsquare, Just Cash Partnership Enables Non-Bank ATM Crypto Transactions

“Coinsquare , a Canadian cryptocurrency trading platform, announced it has bought an eight figure controlling stake in fintech software producer, Just Cash. The acquisition will enable the firm to introduce crypto transactions on traditional, non-bank ATMs in the United States. Just Cash developed a software to retrofit ATMs to sell cryptocurrencies via a customer’s debit […]
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Systems

Facebook Answers How Libra Taxes & Anti-fraud Will Work

“Facebook provided TechCrunch with new information on how its cryptocurrency will stay legal amidst allegations from President Trump that Libra could facilitate “unlawful behavior”. Facebook and Libra Association executives tell me they expect Libra will incur sales tax and capital gains taxes. They confirmed that Facebook is also in talks with local convenience stores and money […]
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Systems

US President Donald Trump Says He’s ‘Not a Fan’ of Bitcoin

“Donald J. Trump tweeted Thursday that he is “not a fan” of cryptocurrencies, saying they were “not money” and referencing their price volatility relative to the dollar in his first public comments on crypto since becoming president of the United States. Trump also criticized Facebook ’s Libra cryptocurrency project in subsequent tweets, saying it “will have […]
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Systems

Highlights From Facebook’s Libra Senate Hearing

“Facebook will only build its own Calibra cryptocurrency wallet into Messenger and WhatsApp, and will refuse to embed competing wallets, the head of Calibra David Marcus told the Senate Banking Committee today . While some, like Senator Brown, blustered that “Facebook is dangerous!,” others surfaced poignant questions about Libra’s risks.”
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Systems

The ACH Posts Its Highest Growth Rate Since 2008

“The nation’s automated clearing house network went on a tear in the quarter ended June 30, notching its highest growth rate since 2008 thanks to double-digit growth for key categories like Internet payments and business-to-business transfers. Total volume for the quarter came to 6.1 billion transactions, an increase of 7.7% from the same three months […]