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.

Search Payments News

October 11, 2024

On the web

One in Eight Chinese People Have a Digital RMB Wallet

Ledger Insights

"Mu Changchun, head of the Digital Currency Research Institute at the People’s Bank of China (PBoC), provided an update on the roll out and adoption of its central bank digital currency (CBDC) pilot. As of July there were 180 million personal wallets, which represents about one in eight of the 1.4 billion Chinese population. The cumulative transaction volume reached RMB 7.3 trillion."

October 8, 2024

Top Post

On the web

Pix Limits Transfers and Payments

H2FOZ

"The limitations on transfers and payments made by individuals via Pix between 4 pm and 20 am will come into effect this Monday, the 6th, and will now be limited to a maximum of R$1 in total. This is one of the measures aimed at preventing kidnappings and nighttime robberies that use this means of financial transaction."

October 7, 2024

Top Post

Tensions Rise Between Banks and Tech Companies Over Online Fraud Liability in the UK

CNBC

"Tensions are escalating between banking and payment companies and social media firms in the U.K. over who should be liable for compensating people if they fall victim to fraud schemes online. Starting from Oct. 7, banks will be required to start compensating victims of so-called authorized push payment (APP) fraud a maximum £85,000 if those individuals affected were tricked or psychologically manipulated into handing over the cash."

On the web

China’s 2024 National Day Golden Week Sees 60% Rise in Outbound Travel Transactions and 120% Surge in Inbound Spending YoY Via Alipay

Business Wire

"During the 2024 National Day Golden Week, Alipay recorded a significant increase in both China’s outbound and inbound tourism spending. In China, international travelers spent 120% more year-on-year using their international card-enabled Alipay accounts at merchants during the first four days of the National Day holiday. Alipay Tap! saw transaction volume increase by 130% during the holiday compared with the same period in September."

Bank of England Sees Support for Extending Settlement Window

The Full FX

"With the world and payments and settlements rapidly evolving, the Bank of England says it has been “encouraged” by the level of support for extended RTGS settlement hours, noting the current hours are “unlikely to remain sufficient in an increasingly 24/7 and global world”."

October 4, 2024

On the web

October 3, 2024

On the web

Are you ready for 3DS? [Japan]

Medium

"The Japan Credit Association has mandated the use of EMV 3D Secure (3DS) for all Japanese credit card transactions, effective March 2025. This is part of new Credit Card Security Guidelines introduced by Japan’s Ministry of Economy, Trade and Industry to combat rising credit card fraud."

Alibaba’s Taobao Introduces Tencent’s WeChat Pay, Set to Add JD Logistics

China Daily

"Starting Friday, consumers shopping on Alibaba's Taobao platform can now use Tencent's WeChat Pay for transactions, according to an official statement from Taobao. The new payment option allows users to complete purchases with WeChat Pay, and subsequent updates will enable users to access transaction records and bills directly within the WeChat app, WeChat Pay said."

Banks to Put Four-Day Hold on Suspicious Payments [BBC]

BBC

"Banks will have the power to pause payments for up to four days to give them more time to investigate fraud, the government has said. Currently, transfers must be processed or declined by the end of the next business day, but the new law will allow an extension of three more days."

On the wires

October 2, 2024

On the web

October 1, 2024

On the web

Safaricom Introduces M-Pesa Ratiba, a Standing Order Feature

Capital News

"Safaricom’s Mobile Money Platform, M-PESA has introduced M-PESA Ratiba, a first of its kind on mobile money feature that will allow users to set up standing orders directly from their M-PESA wallets, enabling seamless and automatic payments of recurring transactions and bills."

September 30, 2024

On the web

September 27, 2024

On the web

September 26, 2024

On the web

Bank of Korea to Launch CBDC Payment Trial in Supermarkets

Bitcoin News

"South Korea’s central bank, the Bank of Korea, will soon allow participants to use digital tokens for payments at supermarkets and convenience stores in a central bank digital currency (CBDC) trial. Starting in December, 100,000 participants will be part of this test."

September 25, 2024

Top Post

PSR Confirms Its Decision on App Scams Reimbursement

Payment Systems Regulator

"The PSR has confirmed the maximum reimbursement limit for victims of Authorised Push Payment (APP) scams starting from 7 October. Having given careful consideration to all the feedback and information received, the PSR board has decided that the maximum reimbursement limit for Faster Payments will be £85,000."

On the web

September 24, 2024

On the web

Payments News

Give us your email address or link to our RSS feed and we’ll push the daily Payments News headlines to you.

Glenbrook Payments Boot camp®

Register for the next Glenbrook Payments Boot Camp®

An intensive and comprehensive overview of the payments industry.

Train your Team

Customized, private Payments Boot Camps tailored to meet your team’s unique needs.

OnDemand Modules

Recorded, one-hour videos covering a broad array of payments concepts.

Glenbrook Press

Comprehensive books that detail the systems and innovations shaping the payments industry.