On The Web

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Systems

Payments Will Become User Experiences & Platform Play: PayPal CTO – ETtech

March 9 2020

• in
• Digital currencies

“The idea of a single global currency — instead of multiple ones such as the dollar, pound and euro, to name a few — may seem farfetched now, but progress in digital payments will make it possible. However, various stakeholders — governments, regulators, companies and customers — will have to come together to make it […]

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Regulation

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

March 9 2020

• in
• Cash

“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 […]

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Systems

Aruba’s Banks Switch to Instant Payments

March 6 2020

• in
• Real-Time Payments

“All the banks in Aruba, an island in the Caribbean Sea, have switched to Instant Payments (IP) utilising the central bank’s Clearing and Settlement Mechanism (IP CSM). The transition was implemented by Worldline-subsidiary equensWorldline. With this move, the islands payment infrastructure changes from batch payments to instant payments. All interbank payments in Aruban currency initiated […]

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Systems

Central Bank Digital Currencies: the Cross-Border Dimension

March 6 2020

• in
• Central bank digital currencies (CBDC)

“On January 21, 2020, the BIS (Bank for International Settlements) announced that a group of central banks (Canada, United Kingdom, Japan, Sweden, Switzerland and the European Central Bank) will share their experiences as they assess the different cases for launching central bank digital currencies (CBDCs) in their home jurisdictions. This announcement illustrates the growing importance […]

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Systems

Bitcoin Hits 10-Month Low Below $6K As Stocks Plunge in Massive Sell-Off

March 13 2020

• in
• Bitcoin

“The top cryptocurrency by market value plunged to as low as $5,678 – the lowest level since May 2019 – soon before press time. That represents a 25 percent drop on a 24-hour basis, according to CoinDesk’s Bitcoin Price Index . However, just as quickly, prices rebounded to over $6,550. Meanwhile, major European equity market indices […]

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Systems

Bitcoin Sinks Below $5K Despite Fed Reserve’s Slashing of Interest Rates

March 16 2020

• in
• Bitcoin

“The cryptocurrency slumped below $5,000 as the European trading day got underway, according to CoinDesk’s Bitcoin Price Index . After breaching the psychological milestone at just before 07:00 UTC, the largest cryptocurrency by market cap was coming close to falling past $4,500 at 08:00 at press time, down 16 percent over 24 hours. Other cryptocurrencies […]

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Systems

Can Going Cashless Prevent Coronavirus Spread? Here’s What the WHO Wants You to Know

March 16 2020

• in
• Cash

“Despite reports that the World Health Organization was pushing people to use contactless payments, a spokesperson for the WHO tells CNBC Make It it has not issued any warnings or statements about the use of cash. Instead, it reiterated that you should wash your hands, including after handling money, especially if you’re eating or touching […]

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Systems

Opera Browser Adds Apple Pay, Debit Card Cryptocurrency Purchase Options – CoinDesk

March 18 2020

• in
• Cryptocurrencies

“In a deal that primarily caters to mobile crypto buyers in the U.S., the Opera – Wyre partnership brings Apple Pay functionality to iOS and debit card integration to Android. It lets users of either system purchase up to $250 in bitcoin or ether daily, for a 30 cent fee plus a 2.9 percent transaction […]

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Regulation

Fed’s View on the Digitalization of B2B Payments and Digital Currency

March 18 2020

• in
• Cryptocurrencies

…This all comes with the knowledge that banks are subject to regulatory oversight, (i.e., they are safe) and payment card networks promise to not make cardholders pay for fraud as long as they get the right to charge usury interest to cardholders. That’s the implicit arrangement they make with the Fed. But as non-banks make […]

On The Wires

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Systems

7-Eleven Partners With Arcus to Launch Modern Fintech Payment Solutions

March 16 2020

• in
• Cash

“- Arcus , a leading fintech platform, today announced a partnership with global retail chain 7-Eleven to introduce a suite of modern fintech payment solutions to their mobile app, focused on cash-centric consumers. 7-Eleven is leveraging Arcus’ technology to power a more seamless, integrated payment experience for Latin American customers paying with cash.”