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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Payments & Settlements
US to Launch FedNow Instant Payments Platform in Mid 2023
By Editors | 31/08/2022
The technical testing phase of the new FedNow Service will kick off in mid-September. The service will be ready to launch between May and July of 2023.
Payments & Settlements
Indonesia, Singapore Commence Work on QR Payment Link
By Manesh Samtani | 29/08/2022
Bank Indonesia also launched the “international QRIS”, initially connecting to Thailand’s payment system, and have a retail CBDC in the works.
Cloud & Infrastructure
FSC Korea Unveils Reforms to Promote Digital Financial Services
By Sanday Chongo Kabange | 29/08/2022
The FSC will increase opportunities for FIs and fintechs to offer services via integrated apps, while ensuring consumer protections are in place.
Data Privacy
RBI Releases Amex from Restrictions Imposed Last Year
By Editors | 26/08/2022
The restrictions imposed on Diners Club and Mastercard for violations of India’s data storage rules have also already been lifted.
Payments & Settlements
NPCI Signs Agreement to Enable UPI Payments in UK
By Editors | 26/08/2022
India’s UPI-based QR code payments will be available in the UK on all of PayXpert’s android POS devices for in-store payments.
Payments & Settlements
Philippines Issues Draft Rules on Digital Payments Adoption
By Mark Johnston | 24/08/2022
All government departments and agencies, state universities and colleges, and state-owned or controlled corporations will have to implement digital payments.
Clearing & Post-Trade
MOEX Stops Accepting USD as Collateral in FX, Securities Markets
By Editors | 24/08/2022
Russian authorities have been actively looking to reduce domestic reliance on the currencies of so-called ‘unfriendly’ nations.
Structural Regulation
BSP to Increase Penalties for Misreporting of FX Transactions
By Editors | 23/08/2022
The new penalties regime is intended to help protect the value of the Philippine peso, maintain price stability, and deter future violations.
Payments & Settlements
India, Russia Continue to Explore Non-USD Trade Options
By Editors | 23/08/2022
Indian and Russian banks are discussing the use of customised trade accounts and an exchange rate mechanism that will enable trade settlement in rupees and rubles.
Trading & Investment
Hong Kong Tracker Fund to Add RMB Trading Counter
By Editors | 22/08/2022
The RMB counter will trade only in the secondary market, starting from 19 September, when Hang Seng Investment Management takes over as manager.
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