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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
Maybank to Enable Real-time Payments for Cambodia, Malaysia
By Editors | 12/10/2019
Cambodia’s central bank and Malaysia’s Maybank will work together to enable real-time cross-border transfers, payments and remittances between the two countries.
Payments & Settlements
MPFA to Complete eMPF Platform Bidding Process by Year-End
By Editors | 09/10/2019
Hong Kong’s MPF System relies on cheque settlement, manual handling and paper transactions. The MPFA aims to launch a new ‘eMPF Platform’ in 2022.
Payments & Settlements
RBNZ Proposes Enhanced Oversight Role in Cash System
By Editors | 04/10/2019
In a new consultation paper, the RBNZ proposes legislative changes that would allow it to take on a more active monitoring and coordination role in the cash system.
Payments & Settlements
SWIFT, HSBC to Define Common API Standard for Hong Kong
By Editors | 04/10/2019
The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong’s clearing and settlement systems, facilitating the next phases of open banking in the city.
Data Privacy
Hong Kong Making Slow Progress on Open Banking: S&P
By Editors | 03/10/2019
S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.
Payments & Settlements
BSP Streamlines Rules for Payment System Operators
By Editors | 03/10/2019
The Philippine central bank has simplified the registration process for payment system operators, and created a new consolidated manual of regulations to facilitate compliance.
Data Privacy
ACCC Selects Ten Firms to Test Open Banking Data-Sharing
By Editors | 01/10/2019
The ten companies will work with Australia’s big four banks to test the data-sharing ecosystem through open banking APIs in the lead up to open banking’s official launch in February.
Payments & Settlements
First Foreign Firm Approved to Enter China Payments Market
By Editors | 01/10/2019
The PBOC has approved PayPal’s acquisition of a majority stake in domestic payments firm Gopay, giving it access to various domestic payments licences.
Clearing & Post-Trade
Thailand, Clearstream Go Live with Cross-Border Funds Link
By Editors | 24/09/2019
The new link allows international investors to access Thailand’s funds market, and Thai investors to access more than 190,000 funds on Clearstream’s platform.
Payments & Settlements
RBI Proposes to Directly Regulate Payment Gateways, Aggregators
By Editors | 19/09/2019
The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.
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