On The Web
nbsp;
“Central banks are split over whether to collaborate with the private sector in payments, a think-tank said on Thursday, underscoring questions over the role of finance and technology firms as they work on innovations such as digital currencies. Over half of central banks expect countries to work with the private sector in building and running […]
Indian central bank committee recommends reshaping domestic banking industry
“A working group at India’s central bank has recommended a series of changes that could transform the country’s banking landscape by paving the way for large industrial conglomerates to set up banks. The proposals could also allow large non-banking finance companies and niche payment banks to convert into lenders.”
RBI releases draft guidelines for the proposed digital payments self-regulatory organisation
“The Reserve Bank of India has released the draft guidelines for the proposed Self-Regulatory Organization (SRO) responsible for setting and enforcing internal rules for the participants in India’s burgeoning digital payment ecosystem.The proposed SRO will be expected to act as a two-way communication channel between the payments industry and the central bank. It shall also […]
China’s Central Bank Urges Antitrust Probe Into Alipay, WeChat Pay
“China’s top antitrust agency is looking at whether to launch a probe into Alipay and WeChat Pay, prompted by the central bank which argues the digital payment giants have used their dominant positions to quash competition, sources with knowledge of the matter said.”
Brazil Will Authorize Payments System Involving WhatsApp If Rules Are Respected, Central Bank Director Says
“Brazil’s central bank will authorize a payments system involving Facebook Inc’s ( FB.O ) WhatsApp messaging service, to send money and make payments via chats, as long as all rules are respected, director Joao Manoel Pinho de Mello said on Monday.”
Singapore Says Blockchain Payments Project Ready for Commercial Rollout
“Singapore has developed a blockchain-based payments network that could enable faster and cheaper international settlements, authorities said on Monday, adding that the next step was a commercial rollout. The final phase of the years-long ‘Project Ubin’ saw the Monetary Authority of Singapore team up with state investor Temasek and J.P. Morgan to develop the prototype […]
Kenya’s Central Bank Extends Mobile Payments Relief by Six Months
“Kenya will extend various relief measures on mobile phone payments that were introduced to help to curb the spread of the new coronavirus by a further six months, the central bank said on Wednesday. The East African country introduced the measures to encourage cashless payments on mobile phones because the government said avoiding the use […]
Brazil Suspends WhatsApp’s New Payments System
“Brazil’s central bank effectively suspended a newly-launched system allowing users of Facebook Inc’s WhatsApp messaging service to send money via chats, ordering Visa and Mastercard to halt payments and transfers via the system. The central bank said in a statement that rolling out the service without previous analysis by the monetary authority could damage the […]
On The Wires
nbsp;Federal Reserve Announces the FraudClassifier℠ Model to Help Organizations Classify Fraud Involving Payments
“The Federal Reserve today published the FraudClassifier model – a set of tools and materials to help provide a consistent way to classify and better understand the magnitude of fraudulent activity and how it occurs across the payments industry. The model was developed by the Fraud Definitions Work Group, which was comprised of Federal Reserve […]
The Bank of Thailand Announces the Prototype Development Project of Central Bank Digital Currency (CBDC)
“The Bank of Thailand (BOT) has announced the project to develop the prototype of the payment system for businesses using Central Bank Digital Currency (CBDC), which will build upon knowledge from Project Inthanon. The project scope will include conducting a feasibility study and developing a process to integrate CBDC with the business’ innovative platform. The […]