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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
Taiwan FSC Raises Balance Limit for Third-Party Payment Providers
By Darien Choong | 22/11/2021
Third-party payment providers need not apply for a business licence from the FSC if they do not hold more than TWD 2 billion in custody.
Payments & Settlements
Bank Indonesia Issues Implementation Regulations for BI-FAST
By Editors | 22/11/2021
Banks with IDR 6 trillion in core capital, and non-bank institutions with IDR 100 billion in paid-up capital, can be direct participants of BI-FAST.
Cybersecurity
Japan FSA to Issue New Orders to Mizuho Over System Glitches
By Editors | 21/11/2021
The FSA will issue a new business improvement order this month over Mizuho’s system glitches, one of which resulted in possible breaches of AML rules.
Payments & Settlements
CPMI Proposes to Extend & Align RTGS Operating Hours
By Editors | 19/11/2021
CPMI proposes to align RTGS operating hours so they can be used for cheaper, faster, and safer cross-border payments.
KYC & CDD
China Asks Banks to Facilitate ‘New Forms’ of International Trade
By Darien Choong | 16/11/2021
With the new rules, the PBOC says it hopes to achieve unified regulation of domestic and foreign currency settlement for new forms of offshore trade.
Payments & Settlements
Asia’s Payments Landscape Shines at Singapore Fintech Festival
By Mark Johnston | 16/11/2021
The Asian fintech scene witnessed a raft of new announcements at this year’s Singapore Fintech Festival held from 8-12 November 2021.
Payments & Settlements
BSP Pursues Cross Border Payment Links with Malaysia, Thailand
By Editors | 16/11/2021
The BSP has been in dialogue with ASEAN central banks including MAS, BNM and BOT to make cross-border payment flows cheaper and more seamless.
Trading & Investment
RBI Opens Direct Access to G-Secs Market for Retail Investors
By Editors | 14/11/2021
As of 2.30pm on Saturday, the new RBI Retail Direct Scheme had received over 12,000 registrations from retail investors, which was described as an “encouraging response”.
Data Privacy
RBI Lifts Diners Club Restrictions Citing ‘Satisfactory Compliance’
By Editors | 14/11/2021
Restrictions prohibiting Diners Club from onboarding new domestic customers have been lifted. Similar restrictions are still in place for Amex and Mastercard.
Payments & Settlements
Sri Lanka Rolls Out National QR Payments Solution
By Ranamita Chakraborty | 13/11/2021
LANKAQR targets SMEs and customers will not be charged for payments made by scanning a QR code with their mobile device.
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