Industry experts tell Regulation Asia how the financial sector's battle against sophisticated financial crimes has led to a greater reliance on artificial intelligence (AI) to detect fraud and maintain customer trust.
August 24, 2023UOB will restrict payments to and from Myanmar accounts, card transactions for Myanmar individuals and banks, and close Myanmar banks’ nostro accounts.
August 10, 2023The move allowed travellers to pay for goods and services across China, where mobile payments are needed for most basic necessities.
July 22, 2023Banks and other card issuers will have to provide options for customers to freely choose which card networks processes their payments.
July 6, 2023The RBA seeks to prevent any one debit network from being given routing priority at issuance for domestic transactions.
June 24, 2023Project Rosalind explored how a universal and extensible API layer could connect central bank and private sector infrastructures and facilitate retail CBDC payments.
June 19, 2023The RBA had set an expectation that merchants would be offered least-cost routing by end-2022, but the industry did not meet this timeline.
May 24, 2023HSBC, StanChart, BOCHK, CCB, ICBC, Hang Seng Bank, Alipay, Ripple, Visa, Mastercard and ZA Bank are among those involved in HKMA's pilot.
May 19, 2023ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.
March 14, 2023Visa has tested the feasibility of accepting large value settlement payments in USDC, using the same process as for foreign currency transactions.
February 11, 2023