Payments News

On The Web

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Systems

Facebook-backed Digital Currency Project Libra Has a New Member

April 28 2020

“British payments start-up Checkout.com has joined the Libra Association, the digital currency project set up by Facebook last year. Checkout.com is the first payment processor to join the initiative since U.S. giants Visa , Mastercard and Stripe all pulled out over regulatory concerns in October. In recent weeks, other firms have said they will back Libra, […]
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Companies

Facebook’s Libra Cryptocurrency Gets Revamp in Response to Backlash

April 16 2020

“Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval.  The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense scrutiny from global regulators, with many worried its launch could erode national control over money. Libra’s […]
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Companies

Visa Applies For Digital Dollar Blockchain Patent

May 15 2020

“The U.S. Patent and Trademark Office (USPTO) published today that Visa has filed a patent application to create digital currency on a centralized computer using blockchain technology. This patent applies to digital dollars as well as other central bank digital currencies such as pounds, yen, and euros and so the physical currency of a central […]
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Providers

Japan’s Biggest Banks Are Talking About Building a Digital Payments System

June 5 2020

“Three of Japan’s largest banks are among major players joining a study group looking at developing a digital payment system that may address concerns about cryptocurrencies. Mitsubishi UFJ Financial Group (MUFG), Mizuho Financial Group, and Sumitomo Mitsui Financial Group – institutions that control more than $6.6 trillion in assets between them – will participate in […]
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Systems

Digital Currencies Could Replace Low-Interest Bank Accounts, Says UN Expert

June 8 2020

“Digital currencies could supersede bank accounts as low-interest rates make them increasingly obsolete. That’s the view of Massimo Buonomo, the UN’s global blockchain expert, who added that digital currencies, particularly central bank digital currencies (CBDCs), could soon “eliminate the need for a bank account” altogether. Speaking on an online panel discussing the future post-coronavirus global […]

On The Wires

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Companies

Welcome to Novi

May 26 2020

“Today, we’re excited to introduce Novi — the new name and brand for the digital wallet that will help people send and hold Libra digital currencies. While we’ve changed our name from Calibra, we haven’t changed our long-term commitment to helping people around the world access affordable financial services. Whether you’re sending money home to […]
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Companies

The Libra Association announces new members

May 15 2020

“The Libra Association, an independent member organization, is pleased to announce the addition of three new members, Temasek, Paradigm and Slow Ventures. The design of a blockchain-based payment system that supports responsible financial services innovation and inclusion for billions of people requires a diverse set of members in different industries, geographies and sectors to help […]