Payment

The ASEAN Financial Innovation Network (AFIN) launch CBDC sandbox

spike 23 hours ago

The ASEAN Financial Innovation Network (AFIN), a non-profit backed by the Monetary Authority of Singapore (MAS), the World Bank’s International Finance Corporation (IFC), and the ASEAN Bankers Association, is launching a central bank digital currency (CBDC) sandbox in collaboration with R3.

The ASEAN Financial Innovation Network (AFIN) launch CBDC sandbox

The new sandbox will be part of the API Exchange (APIX) and enable central banks and regulators to experiment with CBDCs. The sandbox aims to support new payment rails that support CBDCs and multi-currency payment solutions using R3’s Corda enterprise blockchain.

“There has been an increasing interest

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El Salvador rejected by World Bank in request for Bitcoin implementation

spike 24 hours ago

Last week we broke the news that El Salvador had decided to make Bitcoin official tender in the country – and this next bit will surprise you…a  lot.

El Salvador rejected by World Bank in request for Bitcoin implementation

The World Bank has rejected a request from El Salvador to help with the implementation of Bitcoin as legal tender, citing concerns over transparency and the environmental impact of Bitcoin mining.

Earlier this month, the Central American country announced plans to become the first nation to formally adopt the digital currency, aiming to use Bitcoin as a parallel legal tender alongside

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Cash is alive! Long live the cash

spike 1 day ago

Even before the pandemic, the future of cash was being discussed as the use of digital payments accelerated. But the pandemic has raised the volume of that debate significantly.

It has sped up the digitalisation of our economy – by seven years, according to recent estimates – and led to new consumer behaviours. This in turn has led to renewed questions about whether cash has a future in the digital economy – said Fabio Panetta, Member of the Executive Board of the ECB in his Keynote speech at the Deutsche Bundesbank’s 5th International Cash Conference.

In my remarks today, Panetta

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European Fraud Map – UK winning card fraud loss battle

spike 2 days ago

2020 was an incredibly challenging year across the globe, with a rapidly changing mix of customer demands, a volatile staffing and servicing model, and a need to drive transformation quicker than ever before.

Despite this ever-changing set of priorities and demands, several countries across Europe significantly improved their fraud prevention performance in 2020, achieving a second consecutive year of reduction in the losses experienced through fraud according to the FICO European Fraud Map.

In a year that presented fraudsters with new opportunities to exploit consumers, UK financial institutions continued to lead the charge across Europe in thwarting the criminals.

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