Mastercard was barred from onboarding new domestic customers in July last year due to noncompliance with India's data storage rules.
June 21, 2022The Philippine Domestic Dollar Transfer System and the PHP-USD Payment versus Payment System have been designated systemically important.
March 14, 2022The BOT will introduce virtual bank licences, relax fintech investment limits for banks, promote open data, and establish TCFD aligned disclosure standards.
February 7, 2022BNM proposes governance, risk management and operational requirements to ensure safety, efficiency, reliability and confidence in payment systems.
December 17, 2021A POC has been completed that uses existing payment systems in the US and Europe to achieve synchronised settlements in cross-border payments.
October 13, 2021Payment system operators including banks and electronic money issuers have six months to comply with the requirements.
September 22, 2021The e-CNY has built-in functionality to enable self-executing payments via smart contracts. The PBOC aims to fully launch the CBDC by the 2022 Winter Olympics.
September 20, 2021Designated payment systems are expected to demonstrate adequate governance and risk management arrangements in line with the PFMI.
September 18, 2021The bill requires banks and non-bank FIs to "exhaust all means to ensure that victims are able to recover their monetary loss, if any".
September 17, 2021A new IMF paper discusses the impacts fintech will have on currency issuance, monetary policy implementation, and payment system soundness, among other functions of a central bank.
August 31, 2021