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June 2, 2023

On the web

China Is Doubling Down on its Digital Currency

Foreign Policy Research Institute

"China’s central bank continues to take aggressive steps toward assimilating the digital yuan within its domestic financial system. Despite these efforts, less than a fifth of the Chinese population have utilized it."

First Real-World, Cross-Border Settlement Using Australian CBDC Completed Through NexPay and Monoova

The Fintech Times

"The Reserve Bank of Australia (RBA), in collaboration with the Digital Finance Cooperative Research Centre (DFCRC), held an invitation-only conference in Sydney for participants in the Australian Central Bank Digital Currency (CBDC) pilot project. In a live demonstration, Monoova’s CTO Nicholas Tan, successfully completed the first real-world, cross-border settlement using the pilot CBDC."

On the wires

June 1, 2023

On the web

Tassat Group Intros Multi-Currency Solution for Banks


"Tasat Group Inc., a digital payments solutions provider for banks, has introduced multi-currency functionality on its platform. With this function, banks will be able to create and hold wallets to handle transactions of multiple currencies, starting with the G7 countries of Canada, France, Germany, Italy, Japan, U.K. and the U.S., according to a press release."

On the wires

Mesh Payments Expands Across Europe, UK, and Asia to Support Global Enterprises with Unified Spend Management in Local Currencies

PR Newswire

"Today Mesh Payments announced expansion of its unified spend management platform to support global multinational businesses operating in Europe, UK, and Asia in local currencies. Mesh now enables companies to operate globally across international entities, issue local cards and settle in local currencies all from one unified platform."

May 31, 2023

On the web

May 30, 2023

On the web

May 26, 2023

On the web

A Guide to Modernizing Payments in the Financial Sector

Policy Options

"Canada must act swiftly to remain on track with modernizing its financial sector policies that affect how consumers make payments. Other countries are adopting fintech innovation at a much faster pace, leaving Canadians with limited consumer choice and competition among financial service providers compared with other parts of the world."

May 25, 2023

On the web

On the wires

New Zealand Banks Move to Processing Payments Seven Days a Week


"The majority of New Zealand bank customers will be able to send and receive local payments seven days a week, starting on Friday, the local payments overseer said. Payments NZ, which manages New Zealand's core payment clearing systems said in a statement that from Friday, electronic bank payments made on public holidays and weekends can now go through on the same day, every day of the year."

May 24, 2023

On the web

Woolworths Rolls Out a Big Change to the Way People Shop

Australian Financial Review

"Woolworths will start moving payments on to Australia’s real-time payments system as a cheaper alternative to the card networks controlled by Visa and Mastercard, a move it says will reduce fraud while driving customers to its digital wallet and rewards program. The supermarket has become the first major company to offer customers an option to link their bank account directly to its app, using PayTo functionality introduced by Australia’s new payments platform."

Chinese CBDC Digital Yuan Drive SME Loans to Outspread Its Use

The Coin Republic

"According to Changsha Evening News, small and medium enterprises (SMEs) can apply for loans using the digital Yuan. The first transaction was done in the city of Changsha in Hunan province. Three SMEs successfully obtained loans. The three firms received loans of 583,000 yuan which is around $83,300, after the Hunan Provincial Department of Science and Technology acknowledgment. The funds were processed through the Bank of Communication. It is a commercial bank assisting the PBoC with the digital yuan pilot program."

May 23, 2023

On the wires

The DCMA Explains Why an International CBDC is the Best Innovation for Store of Value and Medium of Exchange

PR Newswire

"At the International Monetary Fund (IMF) Spring Meetings 2023, the Digital Currency Monetary Authority (DCMA) announced the official launch of Unicoin, an international central bank digital currency (CBDC), that can transact SWIFT-like cross-border payments over digital currency rails completely bypassing the correspondent banking system at guaranteed best-priced FX rates and with instantaneous real-time settlement."

May 22, 2023

On the web

Apple Pay on a Roll, and the Banks are Rattled to Their Cores (Australia)

Australian Financial Review

"Inside Apple, it was known as Project Muirfield. Not only would the iPhone be able to make payments, but accept them too. This week the plan came to life in Australia. The US technology giant said Westpac and Tyro would be the first banks to allow business customers to download an app to receive payments from customers with their iPhone, rather than through a payment terminal."

On the wires

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