Payments News
nbsp;

Systems

Cash May Not Be King, but It’s Still Royalty

“Yet digital’s gain isn’t necessarily coming at the expense of cash. The overall pie still appears to be growing. Only two countries, Russia and Sweden, had a net substitution of cards for cash from 2007 to 2016, with cash in circulation shrinking as card payments grew, according to the Bank for International Settlements. In other […]

On The Web

nbsp;

Systems

Citi Sues Revlon Lender Brigade for Return of Payment It Says Was a Mistake

“Brigade “has unlawfully attempted to capitalize on the mistaken payment,” Citi said in the complaint, filed in New York federal court Monday. Brigade and other lenders have taken the position that they aren’t obligated to return the money, The Wall Street Journal reported Friday. Revlon has said it didn’t pay the money itself. In the […]
nbsp;

Systems

The Federal Reserve Suffers Widespread Disruption to Payment Services

“The Federal Reserve suffered a widespread disruption in multiple payment services Wednesday, including a system that banks and businesses rely on to zip trillions of dollars around the financial system each day. After experiencing problems for several hours, the crucial payment system, known as Fedwire, resumed normal operations shortly before 3 p.m. ET, according to […]

On The Wires

nbsp;

Systems

Payments Canada Launches Lynx, Canada’s New High-value Payment System

“Payments Canada announces today the launch of the first release of Lynx , Canada’s new high-value payment system. Lynx is replacing the Large Value Transfer System (LVTS), which has served as Canada’s high-value payment system for over 20 years. Designated by the Bank of Canada as a systemically important payment system under the Payment Clearing […]
nbsp;