Payments & Settlements

Payments & Settlements

India to Strengthen Digital Payments with Blockchain

By Editors | 15/04/2019

The National Payments Corporation of India is soliciting interested partners to build a blockchain-powered digital payments platform for the country.

Supervision & Enforcement

Australian Authorities Bust Vietnamese Money Transfer Cartel

By Editors | 12/04/2019

The ACCC and Australian police have brought charges against an alleged price-fixing cartel, which is said to have been directed by Vietnam’s Sacombank.

Payments & Settlements

MAS Proposes Payment Services Regulations for Consultation

By Manesh Samtani | 11/04/2019

To effect the objectives of the Payment Services Act passed in January, MAS intends to prescribe new regulations for payment services licensees and significant payment systems.

Payments & Settlements

Payments Connectivity Sees Continued Progress in ASEAN

By Editors | 10/04/2019

Bank of Thailand outlined a number of key initiatives with other ASEAN nations to increase regional connectivity in cross-border payments.

Payments & Settlements

RBI to Unify Complaints Handling for Digital Payments

By Editors | 10/04/2019

The RBI plans to speed up customer complaint processing and redressal times across all domestic payment platforms by end-June.

Payments & Settlements

Australia Consults on Payments System Migration to ISO 20022

By Editors | 10/04/2019

The RBA and Australian Payments Council have issued a consultation to help the industry agree on key strategic decisions for migrating the payment system to ISO 20022 by end-2024.

Emerging Prudential Risks

BigTechs Contribute to Efficiency – and Risk – in Financial Services

By Manesh Samtani | 08/04/2019

A BIS working paper says BigTechs enhance competition, financial inclusion and efficiency in financial services, but they also concentrate market power and give rise to systemic risk.

Clearing & Post-Trade

Bursa Malaysia to Operate on T+2 Settlement from 29 April

By Editors | 08/04/2019

Bursa Malaysia will migrate to T+2 settlement starting from 29 April, putting it in line with the financial markets of developed countries.

Payments & Settlements

ASEAN Pushes for Cross-Border Settlement in Local Currencies

By Editors | 08/04/2019

ASEAN central bankers are setting up direct settlement systems that use local currencies, in a bid to reduce transaction costs and exposures to global volatility.