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A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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June 4, 2026
On the web
Instant Payment Platform Tops One Million Daily Transactions: EthSwitch
The Reporter Ethiopia
"EthSwitch, Ethiopia’s national payment switch, said its instant payment platform processed more than one million transactions in a single day, marking a milestone in the country’s push to expand digital payments and financial inclusion. The platform, EthioPay-IPS, handled transactions worth more than five billion Birr on the record day. The announcement comes as Ethiopia accelerates efforts to modernize its financial sector and expand digital financial services."
June 3, 2026
Top Post
Cuba to Suspend Visa, Mastercard Transactions Due to U.S. Sanctions, Central Bank Says
The Globe and Mail
"Cuba will suspend Visa and Mastercard transactions starting June 6, its central bank said, citing sanctions imposed by the United States that in recent days have led a swath of foreign businesses to sever ties with the Caribbean island. Cuba’s central bank said a foreign partner that had previously processed credit card transactions for Cuba had decided to limit operations following a U.S. executive order on May 1 that vastly broadened sanctions on commerce with Cuba."
On the web
UK House of Lords Urges Fewer Restrictions on Bank Issued Stablecoins
Ledger Insights
"The UK’s House of Lords has been conducting an inquiry that is reviewing regulatory proposals for UK stablecoins and the Financial Services Regulation Committee published a report recommending a lighter touch on several fronts. It welcomed the Bank of England’s proposed backstop lending facility for systemic stablecoins, but made three priority suggestions. They believe the requirement that systemic stablecoins park 40% of reserves at the central bank is onerous, and suggest remunerating central bank deposits."
June 2, 2026
On the web
UK Payments Initiative Launches New A2A Payments Scheme in ‘Defining Moment’
Open Banking Expo
"The UK Payments Initiative (UKPI), a consortium of banks and fintechs, has launched a payment scheme to enable widespread adoption of account-to-account (A2A) payments, in what is being hailed as “a defining moment” in the UK. Working with participating banks and ecosystem partners, UKPI’s scheme establishes a shared rulebook, commercial model and operational standards for flexible, automated, or recurring A2A payments, which are powered by Open Banking."
Banks Warn New VAT on M-Pesa Transfers Could Push Users Back to Cash
Tech Trends
"Kenya’s plan to impose new taxes on digital payment services is triggering concern across the banking and business sectors, with industry groups warning that higher transaction costs could push more economic activity outside formal financial systems. The debate centres on proposals contained in the Finance Bill 2026 that would apply 16 percent VAT to fees charged by payment service providers including M-Pesa and Airtel Money."
Inside Coinbase’s India Play: INR Rails, RBI & Stablecoins [Video]
YouTube
"In this episode of #TheBigC, Manisha Gupta speaks to John O'Loghlen, Head–APAC, Coinbase, to discuss Coinbase’s big comeback to India, its new direct INR rails for Indian traders, and how the global exchange is navigating RBI concerns and local regulations. They also break down Coinbase’s AI-led restructuring, the future of stablecoins and cross-border remittances, and why India is now its most important international market."
May 29, 2026
On the web
Brazil Nixes Settlement for Stablecoin eFX
Global Finance Magazine
"Banco Central do Brasil (BCB) has banned fintech and payment providers from settling overseas payments in stablecoins or crypto. The BCB is implementing new rules regarding its electronic foreign exchange (eFX) policy, which governs how payment institutions and e-money issuers provide cross-border services. Its immediate effects, when the new rules go into effect on Oct. 1, will be the return of bank spreads, correspondent fees, and settlements in days rather than minutes."
RBI Plans Cross-Border CBDC Pilots Amid Digital Currency Experiments
Business Standard
"The Reserve Bank of India (RBI) said it would explore bilateral and multilateral cross-border central bank digital currency (CBDC) pilots in 2026-27, as the central bank expands experiments around digital payments, asset tokenisation and programmable money. Additionally, the RBI, in its annual report, said that in 2026-27 it would widen domestic CBDC pilots to include additional use cases in direct benefit transfer schemes and business applications."
May 28, 2026
Top Post
UK’s Biggest Banks Back Scheme to Challenge Visa and Mastercard Dominance
The Banker
"Barclays, HSBC, Lloyds and NatWest are among lenders backing a new UK payments scheme being rolled out to challenge the dominance of Visa and Mastercard and accelerate the use of bank-to-bank transactions bypassing payment intermediaries. The UK Payments Initiative, a company set up under the auspices of the Financial Conduct Authority whose founding shareholders include the UK’s four largest lenders, is set to launch a payments scheme next week, according to documents seen by The Banker. "
May 27, 2026
On the web
Japan’s 3DS Mandate: One Year In
Forter
"On April 1st, 2025, Japan’s 3DS mandate went into effect. In the year that has followed its roll-out, the impact has been widespread across the payments landscape. In response to rising fraud, EMVCo’s 3D Secure protocol became mandatory for eCommerce credit card transactions processed in Japan. This applied to both domestic and cross-border transactions, and the stated goal was to get 100% of registered merchants using dynamic authentication such as biometrics or one time passwords in place of static passwords."
The Compliance Moat: Why 88% of UK Banking Customers are Ready to Switch
The Global Treasurer
"With UK financial crime losses exceeding £1 billion, a new ThetaRay report reveals that 88% of banking customers would abandon their institutions over AML failures. This shift signifies that compliance is no longer just a regulatory burden but a critical driver of customer retention. Explore the "Security vs. Convenience Paradox" and why ThetaRay’s findings suggest AI-native infrastructure is now essential to prevent mass deposit flight."
May 22, 2026
Top Post
Should Visa & Mastercard Investors Worry About UK & Europe's Moves?
Yahoo Finance
"Britain’s Payment Systems Regulator, or PSR, has stepped up scrutiny of card networks after years of complaints from merchants over rising card costs. The regulator is now consulting on a proposed regulatory financial reporting framework that would require Visa Inc. and Mastercard Incorporated to disclose detailed information tied to their UK operations. The consultation focuses on margins, profitability and the economics behind scheme and processing fees charged across the card ecosystems."
On the web
Mastercard Is Asking Brazilian Payment Processors To Share A Costly Bill
Finimize-Bloomberg
"Mastercard is pressing some of Brazil’s largest payment processors to absorb part of nearly 5 billion Brazilian reais (about $997 million) in card payments linked to Will Financeira after the fintech collapsed. Bloomberg, via MT Newswires, reports that Mastercard – the card network behind Will Financeira’s cards – became responsible for reimbursing merchant acquirers (the firms that process card payments for stores) for those transactions. It has already repaid roughly half, but it’s proposing a recovery “waterfall” to limit what’s left."
May 21, 2026
On the web
PSD3 Is Getting Closer for EU Banks
RedCompass Labs
"The European Parliament and EU Council have provisionally signed off. Soon, the work to move from PSD2 to PSD3 and PSR (Payment Services Regulation) can begin. PSD3 is the EU’s Open Banking legislation. PSD3 will elevate transparency, reinforcing data security, and strengthening consent management. PSR is expected to be published in the Official Journal in summer 2026 and will come into force 20 days later. More provisions will apply 21 months after coming into force, so we can expect the new payee verification regime regime in early 2028, and the liability shift applying 3 months after that, in mid-2028."
May 20, 2026
On the web
Bizum Shop Payments Spain Begin Gradual Rollout
In Spain
"The rollout of Bizum shop payments in Spain began this week, but it is not yet available everywhere. The new service is being introduced gradually, meaning only some banks, users, and retailers can use it at first. RTVE reports that Bizum began activating payments at physical shops on 18 May, though availability varies by bank and business. Until now, Bizum was best known for instant payments between people using a mobile phone number. It has also grown into online shopping, donations, and some public payments."
Stablecoin News: Japan Opens Stablecoin Market to Foreign Issuers from June 1
The Coin Republic
"Japan will recognize eligible foreign stablecoins from June 1, 2026. The FSA rules keep qualifying trust-type stablecoins outside securities treatment. RLUSD stays near $1 as Japan’s stablecoin market gains clearer rules."
May 19, 2026
On the web
UK Banks Can Issue Wholesale Stablecoins. Retail Coins Must Sit Outside Bank
Ledger Insights
"The Bank of England’s Prudential Regulation Authority (PRA) has updated its guidance on how banks should approach stablecoins, e-money and tokenized deposits, superseding a 2023 Dear CEO letter on the same topic. The most notable shift is a lighter approach to wholesale stablecoins. Banks considering stablecoin issuance exclusively for wholesale customers are invited to engage with supervisors early, with the PRA signaling it will take a “proportionate approach” to assessing proposals."
May 18, 2026
On the web
RBI’s ‘Payments Vision 2028’ Ushers Structural Re‑Design of Ecosystem
Deccan Herald
"The vision document...seeks to build an open and interoperable card ecosystem with emphasis on merchant choice, smart tokenisation and orchestration, and transparent pricing. The vision document calls for innovation in card payments. This creates policy space for continued development of tokenised payment models, contactless and embedded experiences, stronger authentication and fraud controls and card-linked innovation aligned with security, inclusion, and efficiency objectives."
Apple Pay India Rollout Delayed Amid Commission Standoff with Banks
CNBCTV18
"The delay comes despite the technology infrastructure for the launch being largely in place. According to one of Apple Pay’s India launch partners, the service could technically go live “the next day”, but talks with large credit card issuers remain stuck over commercial terms. Apple is reportedly seeking 20 basis points (bps) per transaction from partner banks, while large lenders are only willing to offer 15 bps, in line with the commission structure Apple follows globally, including in the US."
Bank of England: Extending RTGS and CHAPS Settlement Hours – Next Steps Towards near 24x7 Settlement
Bank of England
"Rapid innovation is driving a shift towards fast, resilient and always‑on payments. We aim to lead this transformation by delivering future‑ready infrastructure that enables private‑sector innovation, improves system‑wide outcomes and strengthens UK competitiveness. This consultation paper sets out our proposed direction for moving RTGS and CHAPS (the UK’s high-value payment system) settlement hours toward near 24x7 operation, and the key choices that will shape that journey."
Australia’s Central Bank Plans Tokenization Sandbox in Project Acacia Roadmap
Ledger Insights
"The Reserve Bank of Australia and the Digital Finance Cooperative Research Centre have published the final report from Project Acacia, a tokenization research project exploring digital money and settlement infrastructure for wholesale asset markets. The project ran 20 use cases developed by domestic and international participants ranging from banks and fintechs to fund managers and exchanges. Twelve were live pilots involving real money and real assets, with the remainder operating as proofs of concept."
May 15, 2026
On the web
NAB Acquires Banked To Expand Real-Time Payments Capabilities
Pulse 2.0
"National Australia Bank announced it has acquired Banked, a fintech company that enables businesses and customers to make and receive payments instantly through account-to-account payment technology. The acquisition strengthens NAB’s payments capabilities and supports the bank’s strategy to help businesses receive payments faster and at a lower cost. Banked’s platform powers “Pay by Bank” transactions, allowing merchants to receive funds directly from a customer’s bank account without requiring a credit or debit card."
May 14, 2026
On the web
Treasury Proposes 16% VAT on M-Pesa and Other Digital Payment Platforms [Kenya]
Techweez
"Treasury wants to slap a 16% VAT on the country’s 42 licensed payment service providers, a list that includes M-Pesa, Airtel Money, Pesapal, and Kenswitch. The proposal is tucked into the Finance Bill 2026, and it has set off a quiet but serious fight between the government and the companies that run the country’s digital payment infrastructure."
Britain's Stablecoin Pivot Looks Like Concession, but It's Really About Financial Positioning
U.Today
"The decision by the Bank of England to soften certain aspects of its proposed stablecoin regime will inevitably be portrayed as a win for the cryptocurrency sector. The BoE retreated from its initial 2023 framework, which mandated that stablecoin reserves be held solely in non-interest-bearing central bank deposits, following months of pressure from issuers and fintech organizations. The amended proposal allows issuers to allocate up to 60% of reserves into short-term UK government bonds, while keeping the remaining 40% in central bank funds."
May 13, 2026
On the web
Alibaba Integrates Qwen With Taobao and Tmall: What End-to-End Agentic Commerce Means for Shoppers, Brands, and Retail Search
ALM Corp
"Alibaba’s latest expansion of agentic commerce across Taobao and Tmall matters for a simple reason: it pushes AI shopping beyond chat, beyond recommendations, and beyond a search box. Instead of using AI only to summarize options, Alibaba is moving toward a model where an AI system can help a shopper discover products, compare choices, apply promotions, complete payment with confirmation, coordinate logistics, and support post-purchase tasks. That is a much larger change than adding a smarter assistant to an e-commerce app."
Brazilian Payments Network Elo Selects Banks for Potential US IPO
Global Data
"Brazilian payments company Elo Servicos has selected banks to support a potential initial public offering (IPO) in the US, Bloomberg reported. Equally owned by Banco Bradesco, Banco do Brasil and Caixa Economica Federal, Elo competes with global card networks such as Visa and Mastercard in Brazil. The company launched in 2011 with the intention to reduce fees paid by Brazilian banks to global payment networks."
May 11, 2026
On the web
Bank of England Echoes EU Concerns over Multi Jurisdiction Stablecoins
Ledger Insights
"Bank of England Governor Andrew Bailey expressed concerns about stablecoins, especially the potential impact on the UK if there’s a stablecoin run. The European Central Bank and European members of parliament have raised a related concern. Where a stablecoin operates under a common brand across multiple jurisdictions, holders may seek to redeem in whichever country offers the easiest path, consuming reserves that were sized for local holders."
Boku Gets Brazil License to Launch Pix Recurring Payments by 2026
IBS Intelligence
"Boku, a local payment solutions provider, has received Payment Institution authorisation from the Central Bank of Brazil (BCB) to support Latin America’s fast-evolving digital economy. The licence empowers Boku to operate as both a Payment Initiator and E-money Issuer, enabling the company to actively participate in Brazil’s Open Finance framework and offer advanced Pix-based capabilities, including Pix Automático, by early 2026."
ECB President: EUR Stablecoin Case “Weaker than it Appears”
The Full FX
"European Central Bank President Christine Lagarde has poured cold water on efforts to introduce euro stablecoins, arguing that the products, which “were initially designed to solve a narrow problem within the crypto ecosystem” need to have their two current functions – monetary and technological – separated, to overcome what is a “far weaker” argument for their deployment."
May 7, 2026
On the web
The New (And Strict) Controls of Pix
Finsiders Brasil
"On April 23rd, the Central Bank (BC) published Resolution BCB No. 559. The new rule adds to the BC's recent efforts to provide greater security to the to the instant payment system, particularly in light of fraud cases in the second half of 2025. The resolution provides for the exclusion of participants, mandatory audits, and the summoning of representatives by the Central Bank."