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xxx As operator, the Eurosystem is enhancing the TARGET2 functionalities as relevant to address ACHs’ needs by November 2017. These steps need to be complemented by concrete interoperability arrangements between ACHs. In this regard, the Eurosystem encourages the industry to establish operational links between ACHs by the November 2017 deadline. From 2017 – a decisiveContinue reading “2017 – a decisive year for innovative retail payment services”

xxx This week, the Internet Banking Union (IBU) was approved by China’s central bank the People’s Bank of China (PBOC) thus creating a ‘Digital Union Pay’ that may bring cross-platform interoperability to digital payment platforms including Alipay and WeChat Pay. From The Internet Banking Union may help you transfer money from Alipay to Wechat payContinue reading “The Internet Banking Union may help you transfer money from Alipay to Wechat pay – Kapronasia”

Local currencies face three hurdles. First, they are relatively illiquid, being accepted only at willing local businesses. They are, in effect, a form of self-imposed economic sanction, narrowing the range of choice for consumers and businesses. From Sub-national currencies struggle to survive | The Economist xxx Second, local-currency schemes suffer from a trust deficit: theyContinue reading “Sub-national currencies struggle to survive | The Economist”

xxx About $20m was seized from under a mattress in a Massachusetts apartment after a Brazilian man was arrested for laundering money linked to a multi-billion dollar global fraud. From Millions under a mattress: US agents find $20m in cash after fraud raid | US news | The Guardian xxx

xxx She said she could see the EU setting up another currency like the ECU, or European Currency Unit, which the bloc used for internal accounting purposes before the euro was introduced in 1999. From China Media Warn Trump of ‘Big Sticks’ If He Seeks Trade War – Bloomberg xxx

Hello. It looks as if the number of currencies in the world is set to go up again. Across the English Channel, satisfaction with supra-national monetary arrangements is waning. [Marine le Pen] said she could see the EU setting up another currency like the ECU, or European Currency Unit, which the bloc used for internalContinue reading “POST After the euro, the digital euro”

xxx In October there were 1.27bn payment card transactions in the UK, a 10 per cent increase year-on-year, while online transactions rose 16 per cent to 160m, according to the UK Cards Association. Contactless card usage has risen even faster, more than doubling by number and trebling by value over the past year. From CashlessContinue reading “Cashless society makes bank statements longer”

xxx Peter Sands, the former chief executive of Standard Chartered bank, suggested last February that the main use of the 50 was illicit From An unloved banknote: is the £50 in danger? xxx

British Airways have instituted a new policy of annoying customers like me by making them pay for coffee. Although, to be fair, it was Marks & Spencer coffee and it was much nicer than the usual BA coffee. Naturally they didn’t take cash. //embedr.flickr.com/assets/client-code.js They are not unusual in the respect. Lots of airlines don’tContinue reading “POST Retailers and cashlessness”

xxx The company says that employees can perform 5% to 15% more transactions every hour when they don’t have to handle money. From Sweetgreen Is Going Fully Cashless In 2017 | Fast Company | Business + Innovation xxx   xxx The move away from cash might also steer more people onto the Sweetgreen app. OverContinue reading “Sweetgreen Is Going Fully Cashless In 2017 | Fast Company | Business + Innovation”