The Fintech Times

DECEMBER 3, 2024

In November 2023, the European Central Bank (ECB) began the preparation phase of a digital euro. In the time since the initial preparation phase, the ECB has updated its digital euro scheme rulebook to harmonise digital euro payments across the euro area. It will also explore other innovative use cases for a digital euro.

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Central Bank Participant Procedures Risk Management 59

PYMNTS

JUNE 3, 2020

The Reserve Bank of Australia (RBA), the country’s central bank, is considering reducing the cost of electronic payments for merchants and consumers as COVID-19 makes e-banking preferable, Assistant Governor Michele Bullock said on Wednesday.

Central Bank 52

Central Bank Regulations Debit Card ATM 52

Fintech News

MAY 8, 2024

As digital technologies continue to transform the financial landscape, central banks worldwide are exploring the potential of Central Bank Digital Currencies (CBDCs). Transactions tested included retail transfers among individuals and retail payments with merchants for purchasing goods and services.

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CBDC Bots Real Time Gross Settlement (RTGS) Non-Bank 123

The Fintech Times

MAY 23, 2024

UAE-based Comera Pay, the fintech arm of Comera Financial Holding, has received preliminary approval from the Central Bank of the UAE to operate under two key financial licences. This means Comera Pay can now launch payment solutions that provide simpler, more secure transactions for merchants and consumers.

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Economy Security Encryption Data Encryption 105

Fintech News

DECEMBER 10, 2023

The central banks of Vietnam and Cambodia officially launched a cross-border QR payment linkage between the two neighbours on December 3, 2023, at a launching ceremony in Cambodia’s Siem Reap province. The initiation of this project traces back to a Memorandum of Understanding signed by the two central banks on November 8, 2022.

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Cross-Border Cross-Border Payments Central Bank Payments 120

Fintech News

OCTOBER 10, 2024

According to BSP, 50% of retail payments in the Philippines were digitized in 2023. The central bank continues to ramp up efforts to create a conducive environment for fintech-oriented organisations, aiming to attract global investments as more Filipinos embrace digital finance in their daily lives.

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FinTech Central Bank Agreements Finance 122

The Paypers

JULY 1, 2024

The central banks of India, Malaysia, Thailand, Singapore, and the Philippines have announced their plans to launch an instant cross-border retail payments platform.

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Cross-Border Cross-Border Payments Central Bank Retail Payments 69

Fintech News

DECEMBER 11, 2023

Cambodia is implementing new initiatives to expand payment options for tourists by cementing blockchain-based central bank digital currency (CBDC) partnerships. The National Bank of Cambodia (NBC) has been instrumental in facilitating these digital currency evolutions.

Digital Currency 105

Digital Currency Blockchain CBDC Central Bank 105

The Paypers

MAY 24, 2023

Payments solution provider Checkout.com has received a Retail Payment Services license from the Central bank of the UAE.

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Central Bank Acquirers Retail Payments Payment Solutions 36

The Paypers

OCTOBER 18, 2023

Amazon Payment Services , a digital payments provider operating across the MENA region, has been granted a Retail Payment Services licence by the UAE Central Bank.

Retail Payments 41

Retail Payments Central Bank Payments Digital Payments 41

Fintech News

JULY 3, 2024

To facilitate live implementation, the partner central banks and instant payment system operators have agreed to establish a new entity, the Nexus Scheme Organisation (NSO), which will be responsible for managing this rulebook and ensuring its consistent application across the network. Nexus Scheme Organisation (NSO) structure.

Cross-Border Payments 116

Cross-Border Payments Cross-Border Instant Payments Central Bank 116

The Paypers

OCTOBER 30, 2020

A former governor of the China-based central bank has addressed the sovereign digital currency issue, the digital CNY being designed to grow retail payments at home and prevent USD dominance.

Retail Payments 36

Retail Payments Digital Currency Central Bank Addressing 36

PYMNTS

APRIL 8, 2019

for international and domestic payments. Azimo says it has received a license from the Dutch Central Bank to operate in the Netherlands, Cubic Transportation Systems has notched a contract for a mobile ticketing system in Ireland , and Bear Market Coffee in Ireland has gone cashless.

Central Bank 40

Central Bank Cross-Border Payments Cross-Border Payments 40

Fintech Finance

JULY 19, 2024

The CHAPS system was established in 1981 by the Bankers Clearing House in London, but throughout its 43 year history has been operated by several organisations until the Bank of England took over in 2017. Retail payments, such as ATM and card payments, remained unaffected. The New Payments Architecture (NPA) by Pay.UK

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Payments ISO 20022 Retail Payments Settlement 98

PYMNTS

OCTOBER 2, 2020

In today’s top news, the European Central Bank outlines use cases for a digital euro, and Goldman Sachs will buy GM’s credit card business. European Central Bank Outlines Use Cases for Digital Euro. Plus, Walmart is partnering with Clover Health for its new health centers. Goldman to Pay $2.5B

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Use Case Credit Cards Central Bank Push-to-Card 77

PYMNTS

JANUARY 3, 2020

According to a paper that debuted this week from the European Central Bank (ECB), central bank currencies in digital form have their uses, but individuals should be dissuaded from holding too much of a hypothetical digital euro. Negative interest rates would not be imposed on the payments “tier.”.

Digital Currency 52

Digital Currency CBDC Central Bank Retail Payments 52

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. At a high level, Australia’s central bank is joining the likes of China and Sweden in exploring central bank digital coins.

CBDC 40

CBDC Retail Payments Central Bank Digital Currency 40

The Paypers

JULY 19, 2021

The Central Bank of the UAE (CBUAE) has unveiled the Retail Payment Services and Card Schemes Regulation, the fourth regulation in the enhancement journey as it prepares the UAE for a new era of digital payments.

Retail Payments 31

Retail Payments Regulations Central Bank Payments 31

Fintech News

DECEMBER 20, 2023

Developments include cross-border quick response (QR) payment linkages, connectivity between real-time national payment schemes, and the ongoing Singapore Response Code Scheme (SGQR+) project focusing on furthering QR code payment interoperability.

FinTech 104

FinTech Cross-Border CBDC Web 3.0 104

Fintech Finance

JANUARY 25, 2024

Through leveraging Open Banking and instant payments, the SPAA scheme will directly support the establishment of a competitive pan-European payment solution, which is a key pillar of the retail payment strategies of both the European Commission (EC) and European Central Bank (ECB).

Innovation 52

Innovation Participant Central Bank Payments 52

The Fintech Times

SEPTEMBER 20, 2024

One of the biggest challenges central bank digital currencies (CBDCs) have faced in their development is who will actually use them. After all, if a country’s general public is happy with its current payment methods, why would they change?

Treasury 59

Treasury CBDC Assessments Digital Currency 59

Fintech Finance

FEBRUARY 6, 2024

” NPS-NCS and NEPALPAY are part of the National Payment Switch (NPS) initiative, the core infrastructure for routing and settlement of retail transactions to ensure interoperability of card and non-card-based payments within Nepal. NPS-NCS and NEPALPAY is expected to be rolled out in the last quarter of 2024.

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Interoperability Real Time Payments Non-Bank Financial Inclusion 64

The Paypers

OCTOBER 13, 2021

The Central Bank of the United Arab Emirates (CBUAE) has continued efforts to prepare the country for digital payments with a regulation licensing retail payment services.

Service Provider 36

Service Provider Central Bank Payments Retail Payments 36

Fintech Finance

MAY 23, 2024

Comera Pay, the fintech subsidiary of Comera Financial Holding , headquartered in Abu Dhabi, UAE, today announced that it was granted an In-Principle Approval from the Central Bank of the UAE to operate under the Stored Value Facilitator (SVF) and Retail Payment System Clearing Service (RPSCS) licenses.

Innovation 52

Innovation FinTech Encryption Data Encryption 52

The Fintech Times

JULY 15, 2024

The Central Bank of the UAE ( CBUAE ) has recently released the Payment Token Services Regulation under Circular 2/2024 ( Payment Token Services Regulation ), establishing a comprehensive regulatory framework for payment tokens.

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Stablecoins Regulations Multi-Currency Issuers 96

PYMNTS

JANUARY 4, 2019

GIRO said the new system will allow bank transfers to be done across mobile phone numbers, which should provide alternatives to 24-digit bank account numbers. Separately, UCPB , a lender based in the Philippines, has introduced a money transfer service between banks, allowing for instant fund transfers.

Instant Payments 67

Instant Payments Funds Transfer Online and Mobile Banking Payments 67

Fintech News

FEBRUARY 28, 2024

Compounding interest in Singapore is the government’s exploration of a wholesale Central Bank Digital Currency (CBDC) to settle retail payments , further validating the potential of digital currencies in transforming the financial landscape from the top-down — from governmental regulatory authorities right down to retail users.

Cryptocurrency 116

Cryptocurrency Stablecoins Digital Currency Regulations 116

The Fintech Times

DECEMBER 31, 2023

As we enter 2024, the emergence of truly instant payment solutions feels almost inevitable. “According to research from the European Central Bank (ECB), Single Euro Payments Area (SEPA) instant credit transfers currently account for only 14 per cent of all conventional SEPA credit transfers.

Global Payments 124

Global Payments Alternative Payment Methods Online and Mobile Banking Instant Payments 124

The Paypers

APRIL 5, 2024

UAE-based online payment gateway Telr has been granted in-principle approval for the Retail Payment Services & Card Schemes License from the Central Bank of UAE (CBUAE).

Payment Gateways 31

Payment Gateways Gateways Central Bank Retail Payments 31

The Fintech Times

JULY 18, 2024

The fintech aims to make people’s daily transactional activities more safe, convenient, and cost-effective through a simple onboarding journey, domestic payment capabilities and instant fund transfers to their home countries.

Financial Literacy 59

Financial Literacy Financial Inclusion Funds Transfer Payroll 59

The Fintech Times

NOVEMBER 5, 2024

Whizpay Technology was granted the Stored Value Facility (SVF) and Retail Payment Services and Card Schemes (RPSCS) licences to launch the app from the Central Bank of the UAE. Whizmo will be available for download on both the Play Store and App Store.

Finance 64

Finance B2C Financial Inclusion Non-Bank 64

Fintech News

DECEMBER 10, 2023

Additionally, the sector’s impressive growth is reflected in the 2023 Singapore Fintech Map, with 700 companies now featured.

FinTech 118

FinTech Cross-Border Deepfake Cross-Border Payments 118

The Fintech Times

SEPTEMBER 10, 2024

Crypto change China banned cryptocurrencies like Bitcoin in 2021 , shifting its focus to developing its own central bank digital currency (CBDC). By the end of June 2023, e-CNY transactions – primarily used for domestic retail payments – totalled 1.8 Further collaborations are also underway.

FinTech 59

FinTech Online and Mobile Banking Digital Currency Central Bank 59

The Paypers

MAY 27, 2016

(The Paypers) Euro Retail Payments Board , an initiative of the European Central Bank, has launched a survey on e-invoicing and e-bill payment solutions and on issues and barriers for their development.

Payment Solutions 28

Payment Solutions Central Bank Retail Payments Payments 28

PYMNTS

JANUARY 2, 2019

The company’s electronic banking services platform, UCPB Connect, is said to facilitate the fund transfer service. In addition, the service is reportedly the first automated clearing house that uses the National Retail Payment System (NRPS) framework set by the country’s central bank.

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SWIFT Cross-Border Payee Funds Transfer 49

PYMNTS

JUNE 25, 2019

A wider use of new types of crypto assets for retail payment purposes would warrant close scrutiny by authorities to ensure they are subject to high standards of regulation,” Quarles said. However, the FSB did acknowledge that if Libra is successful, they would have to take a different approach.

Finance 43

Finance Cryptocurrency Regulations Central Bank 43

Clearly Payments

JANUARY 25, 2024

Digital Currency and Payments in Canada In 2024, the Canadian digital currency market has experienced a notable surge in mainstream adoption, driven by increased media coverage, educational initiatives, and expanding use cases such as retail payments and cross-border transfers.

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Process Online and Mobile Banking Electronic Funds Transfer (EFT) Digital Currency 98