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John Winchcombe

26 Sept. 2021

5 min read

Round-Up of CBDC News

Project Dunbar involves the central banks of Malaysia, Singapore, South Africa and Australia. The project, initiated by the Bank for International Settlements (BIS), is to test the use of CBDCs for international settlement.

CBDC

John Winchcombe

26 Sept. 2021

4 min read

Payment News

GSMA has published the number of mobile money accounts in 2020 in different regions, and how many of them are active. The paradox is why are only 25% of registered accounts overall actually active?

News

John Winchcombe

26 Sept. 2021

3 min read

BIS on CBDCs and the Need for Change

Benoît Cœuré, Head of the BIS Innovation Hub, recently spoke at The Eurofi Financial Forum. The focus of his speech was that central banks need to move faster on Central Bank Digital Currencies (CBDCs), with the private sector already on the move.

CBDC

John Winchcombe

26 Sept. 2021

5 min read

News in Brief

In July Germany experienced severe flooding in some regions, as high as seven metres in the town of Bad Neuenahr-Ahrweiler for example. It also resulted in significant quantities of banknotes stored in homes and businesses being damaged by flood water contaminated with mud, sewage and oil.

News

John Winchcombe

26 Sept. 2021

5 min read

Cashless v Cash: the Hidden Costs to Consumers and Society

Ross MacDiarmid, Executive Director of the Mint Directors Conference (MDC), hosted Professor Pasquale Sgro, Professor Franz Seitz and Guillaume Lepecq to consider the question in the title, under the banner of ‘no such thing as a free lunch’.

Cash Usage Free Free

John Winchcombe

21 Sept. 2021

2 min read

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

David Birch, the author, adviser and investor in digital financial services, has recently posted an article on Linkedin, ‘Why would anyone think it is a good idea?’. There is the argument is that shop keepers could always have accepted Bitcoin, but now they have to.

Country Profile Digital Payments

John Winchcombe

15 Sept. 2021

4 min read

Going Contactless

On 15 October 2021 the UK raises its contactless limit to £100 from £45. It also raises the cumulative transaction limit to £300 before a PIN must be entered. This increase means the UK now has the highest contactless limit in Europe and the seventh highest in the world.

Cards Digital Payments

John Winchcombe

15 Sept. 2021

2 min read

Cash at the Post Office

The Post Office in the UK is playing an increasing important role in providing cash services to communities. It now provides cash services for over 30 banks and building societies as part of a Banking Framework. Customers can withdraw or deposit cash at any of the 11,500 Post Office branches.

Cash Usage

John Winchcombe

13 Sept. 2021

3 min read

DNB Quick Guide to CBDCs

In April 2020 Harro Boven and Peter Wieters published a Dutch National Bank (DNB) Occasional Study on the objectives, pre-conditions and design choices for Central Bank Digital Currencies (CBDCs). Harro wrote an abridged version that was used in Payers December publication about CBDCs which is summarised here.

Digital CN

John Winchcombe

13 Sept. 2021

9 min read

Legal Aspects of CBDCs: Central Bank and Monetary Law Considerations

This paper opens asking three questions from a legal perspective; Do central banks (CBs) have the authority to issue digital currency? Can Central Bank Digital Currencies (CBDCs) be real ‘currency’? Should digital currency be legal tender?

Digital CN

John Winchcombe

9 Sept. 2021

9 min read

Central Bank Digital Currency: A Review of Bank of Canada Papers

This year the Bank of Canada has published 9 staff analytical notes and staff working papers discussing Central Bank Digital Currencies (CBDCs). As the most recent paper says, as a contingency the Bank of Canada is looking to build its capability to issue a cash-like retail denominated CBDC.

Digital CN

John Winchcombe

2 Sept. 2021

5 min read

A Busy Month for CBDCs

On 12th October the European Central Bank (ECB) opened a public consultation on the creation of a Digital Euro, a Central Bank Digital Currencies (CBDCs). The logic is that the increased usage of digital payments may mean that a Digital Euro is needed to safeguard citizens.

Digital CN

John Winchcombe

30 Aug. 2021

2 min read

A Call for Digital Standards

The Institute of Electrical and Electronics Engineers (IEEE) has called for a ‘digital Bretton Woods’ to set standards for digital currency and trade systems. Its call comes in the context of today’s digital platforms that handle more than just finance, but trade, tax and audits, and it does this across borders.

CBDC Digital Payments News

John Winchcombe

26 Aug. 2021

3 min read

Financial Inclusion – Harder than it Looks

Peterson K Ozili has written about financial inclusion and why it is harder than it looks. Many of the barriers are within the control of governments to remove by investment and subsidies. Others, the cultural, social and income barriers are a much more significant challenge.

Cash Management Digital Payments Future of Cash

John Winchcombe

26 Aug. 2021

2 min read

Financial Education – Teaching the Value of Money

There have been a number of articles this year about financial products targeting children with the aim of teaching them to save, spend and think about money ready for when they are adults.

Cash Usage Future of Cash

John Winchcombe

26 Aug. 2021

4 min read

The Power of the Assumptive Close

The Economist Intelligence Unit has issued a paper, ‘Going Digital. Payments in the Post-Covid World’. It is interesting both for what it says and how it says it.

Apps COVID Digital Payments

John Winchcombe

26 Aug. 2021

5 min read

Country Profile: Rwanda

Rwanda is a relatively small land-locked African country in the Great Rift Valley bordering Uganda, Tanzania, Burundi and the Democratic Republic of the Congo. It is the most densely populated mainland African country with a young, mainly rural population numbering 12.6 million.

Country Profile

John Winchcombe

24 Aug. 2021

4 min read

Payment News

aRussia’s second largest bank, VTB, has been working on tools to identify the optimum location for bank branches and ATMs. It has used a wide range of parameters, over 5,000, to calculate how to reach the most customers and generate the most sales from a new location.

ATMs Cards News

John Winchcombe

24 Aug. 2021

2 min read

Card Fees Rise Despite Interchange Fee Caps

CSMPI’s latest Insight magazine reports on card fee changes in 2021 around the world. It suggests that each tweak in the fees may appear small but, overall, the additional revenue is likely to be over $1.1 billion in the US alone.

Cards

John Winchcombe

24 Aug. 2021

4 min read

Round-Up of CBDC News

The Bank of Korea is investigating adjustments needed in the payment system if CBDCs are launched. The Kakao consortium and two tech affiliates of the Samsung Group are to run a pilot programme for issuing and distributing CBDCs and looking at transferring money and remittances between countries.

CBDC News

Latest News

Round-Up of CBDC News

Payment News

BIS on CBDCs and the Need for Change

News in Brief

Cashless v Cash: the Hidden Costs to Consumers and Society

El Salvador and Bitcoin: Legal Tender or Compulsory Tender?

Going Contactless

Cash at the Post Office

DNB Quick Guide to CBDCs

Legal Aspects of CBDCs: Central Bank and Monetary Law Considerations

Central Bank Digital Currency: A Review of Bank of Canada Papers

A Busy Month for CBDCs

A Call for Digital Standards

Financial Inclusion – Harder than it Looks

Financial Education – Teaching the Value of Money

The Power of the Assumptive Close

Country Profile: Rwanda

Payment News

Card Fees Rise Despite Interchange Fee Caps

Round-Up of CBDC News

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