Global

Back to Cash: Life Without Money in Your Pocket Is Not the Utopia Sweden Hoped

The Guardian

"...In recent years the [Sweden] central bank has been working on its own digital currency, the “e-krona”, as cash declines. The project ended a couple of years ago, and the bank is now focused on monitoring the global development of digital currencies. Last year Norway, which has a popular equivalent to Swish called Vipps MobilePay, brought in legislation that means retailers can be fined or sanctioned if they will not accept cash. The government has also recommended that citizens “keep some cash on hand due to the vulnerabilities of digital payment solutions to cyber-attacks”."

Tags: Norway Sweden

Global

Vipps Mobilepay Launches the World’s First Alternative to Apple Pay on iPhone [Norway]

Vipps Mobilepay

"Starting today, Vipps users in Norway can tap their phones with Vipps to pay in stores. With this launch, Vipps MobilePay becomes the first company in the world to offer a competing solution to Apple Pay on iPhone."

Tags: Norway

Global

Norway to Extend CBDC Research to Wholesale. Decision in Late 2025

Ledger Insights

"Yesterday Norges Bank shared the results of the fourth phase of its central bank digital currency (CBDC) experiments. It doesn’t believe there is currently a need for a retail CBDC but clarified which conditions might trigger a decision."

Tags: Norway

Global Systems

P27 on Track As Norway Commits Further and Community Banks Are Brought Into the Fold

Finextra

“A 40-plus priority project plan in full swing, Norway once again close to proceedings and ongoing discussions with all four countries’ financial authorities, project P27 is very much on track, P27 CEO Lars Sjogren assures, in a frank and candid interview with Finextra After Coronavirus brought the world temporarily to a halt, work behind the scenes on the world’s first real-time cross border multicurrency clearing and settlement platform, serving the four Nordic currency communities, has not faltered.”

Tags: National infrastructure Norway

Global Regulation

Norwegian banks co-operate on account aggregation programme

Finextra

“The initiative, which is set to be rolled out well ahead of the mandated introduction of the revised Payment Services Directive in autumn next year, is intended to give the banks a head start in the account aggregation space ahead of the entry of third party fintech firms and Big Tech players.”

Tags: Norway Privacy regulation

Global Systems

Norway Wants To Get Its Own Cryptocurrency

Macon Daily

“Norway has often been regarded as an economic success story and is revered globally as a country with optimal policies and modern technologies. Norway’s approach with cryptocurrencies seems to differ from many other countries as well. Instead of setting blockchain technology aside as a scam, the country is going to embrace these new possibilities. Norges Bank, the central bank of Norway, recently announced its intention to develop a national virtual currency (click here to read the original Norwegian article).”

Tags: Central bank digital currencies (CBDC) Cryptocurrencies Norway