Payments & Settlements

Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

RBA Drops Plan to Ban Default Routing on Debit Cards

By Ranamita Chakraborty | 18/08/2023

A recent public consultation raised concerns that the ban could lead to unsuccessful transactions and necessitate the expensive reissuing of all debit cards.

Structural Regulation

Korea Announces New Export Finance Support Measures

By Mark Johnston | 17/08/2023

The measures will support export businesses entering new markets, bidding for overseas projects, and making investments in strategic industries.

Payments & Settlements

China’s Non-bank Payment Sector Sees Shake-Up

By Editors | 17/08/2023

China’s third-party payment sector contracts, with prepaid card issuers exiting amid a stricter regulatory environment and dwindling business.

Clearing & Post-Trade

Philippines to Implement T+2 Stock Settlement Cycle on 24 Aug

By Sanday Chongo Kabange | 16/08/2023

The move will enhance operational efficiency, reduce risk, and align with overseas markets, said PSE CEO Ramon Monzon.

Cloud & Infrastructure

RBI To Introduce Public Tech Platform for Credit Data

By Ranamita Chakraborty | 15/08/2023

Following the pilot, the Indian central bank will expand the platform’s scope and coverage to include more products, information providers and lenders.

Clearing & Post-Trade

DTCC Kicks Off T+1 Settlement Testing Programme

By Editors | 15/08/2023

The testing programme was designed to support full end-to-end testing of the various processes impacted by the T+1 functional changes.

Payments & Settlements

Myanmar Allows Thai Baht to be in International Payments

By Editors | 14/08/2023

Myanmar’s Military Council has designated the Thai Baht as a currency for both international payments and account clearing.

Payments & Settlements

RBI Announces Planned Upgrades to UPI System

By Editors | 13/08/2023

One new feature will enable users to initiate UPI transactions by conversing with an AI-powered system. Japan is exploring a potential UPI linkage.

PEPs & Sanctions

UOB to Tighten Restrictions on Myanmar Business from 1 September

By Mark Johnston | 10/08/2023

UOB will restrict payments to and from Myanmar accounts, card transactions for Myanmar individuals and banks, and close Myanmar banks’ nostro accounts.

Payments & Settlements

UK Commits to Taking Forward Payments System Reforms

By Editors | 09/08/2023

The reforms will include a regulatory regime for future systemically important stablecoins used as a means of payment.

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