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Technology Focus: Programmable Payments

Programmable payments are often talked about in the context of Central Bank Digital Currency (CBDC), but they are possible with any digital payment. The Federal Reserve of Atlanta has written a useful blog explaining them.

CBDC - December 23, 2024 12:01 a.m.

Access to Cash: Combining Perception to Distance

Access to cash has become a key area of interest for central banks. The Bank of Canada has compared subjective perceptions of cash accessibility with distance based metrics and published their findings in a staff analytical note.

Cash Usage - December 23, 2024 12:01 a.m.

Maintaining Cash On Europe’s Agenda

At the Coin Conference in Lisbon Martina Horakova, Managing Director, International Mint Industry Association (IMIA), presented European Economic Area (EEA) legislations and proposals ‘in favour’ of cash access and acceptance.

Future of Cash - December 23, 2024 midnight

BOE Explores CBDC Privacy Solutions

The Bank of England (BOE) and the Massachusetts Institute of Technology Digital Currency Initiative (MIT DCI) have published a paper exploring privacy enhancing technologies (PETs) for a possible digital pound.

Digital CN - December 23, 2024 midnight

Public Lukewarm on New Zealand CBDC

The Reserve Bank of New Zealand (RBNZ) has published the results of its consultation on a possible CBDC. The consultation had the highest response rate of any RBNZ survey, with more than 500 individuals and groups writing in, as well as 18,000 online survey responses.

CBDC - December 23, 2024 midnight

Payment News

Mobile money transactions in Kenya surged to KSh6.5 trillion in the first nine months of 2024, reflecting a 13.2% growth compared to KSh5.8 trillion during the same period last year.

News - December 23, 2024 midnight

Half-Time in the ECB’s Digital Euro Assessment

The European Central Bank (ECB) is half-way through its assessment work about whether to launch a CBDC. This has involved extensive consultation. It has published its second progress report on its preparation phase of a digital euro.

CBDC - December 23, 2024 midnight

Chile Reserves Judgement On Trump’s Bitcoin Idea

While the United States and Brazil debate the use of bitcoin in their international reserves, the Banco Central de Chile, in line with its Governor's firm commitment to cash, categorically rules out this possibility, arguing that crypto assets do not meet the legal or technical criteria for their inclusion.

Free - December 22, 2024 midnight

How Low Value Transactions Across Borders are Changing Payments

While the revolution in information and communication technology, the emergence of China as a global manufacturing exporter, and the expansion of global value chains in the 1980s started a new phase of globalisation, the relatively recent rise in e-commerce and direct-to-customer sales, facilitated by online retail platforms, is leading to a new feature of international trade, namely an increase in the number of low-value transactions.

Retail - December 20, 2024 midnight

Smart Safes and Cash Management

At the 2024 Association for Financial Professionals national conference in the US treasurers from Starbucks, Staples and Inspire Brands (who run a number of US restaurant chains) explained the benefits of using smart safes for cash management.

Cash Management - December 20, 2024 midnight

BI’s wCBDC Proof of Concept Results

Bank Indonesia (BI) has published a paper on a technical proof of concept (PoC) for a wholesale CBDC (wCBDC). BI had compared R3’s Corda enterprise blockchain and Ethereum-based Hyperledger Besu, but the report did not make a definitive choice at this stage.

CBDC - December 20, 2024 midnight

A New Focus on Understanding Financial Inclusion

The Federal Reserve Bank of Kansas City has written a paper investigating who is underserved when it comes to digital payments, the starting point for working out how to include them in today’s digital economy.

Digital CN - December 20, 2024 midnight

CBDC News

Russia’s Ministry of Industry wants a two year transition before mandatory adoption of a digital ruble. It is concerned that the necessary infrastructure is not ready. It is currently planned to become mandatory for large retailers by July 2025.

CBDC - December 20, 2024 midnight

News in Brief

The European Commission is preparing to introduce new rules on cash payments in order to fight against money laundering.

News - December 20, 2024 midnight

News in Brief

A Norges Bank survey estimates only 3% of consumers pay with cash, although more would do so if shops would accept cash. Norges Bank and the government have recently added an amendment to the Central Bank Act that clarifies consumers’ right to pay with cash up to an amount of 20,000 kroner.

News - November 29, 2024 midnight

Payment News

The US regulator, the Consumer Financial Protection Bureau (CFPB), wants to extend its regulatory scrutiny to include tech giants such as Apple and Google and their digital payment apps and wallets.

News - November 29, 2024 midnight

CBDC News

The Deputy Governor of Norges Bank, Pal Longva, has said that Norway has ‘no urgency’ around its digital currency initiatives. Norway has completed four stages of CBDC investigation. It is now concentrating on applications of wholesale CBDCs in a fifth phase of work to be completed by the end of 2025.

CBDC - November 29, 2024 midnight

Enhancing the Resilience of the Cash Infrastructure

At the ATMIA Europe & Emerging Markets conference in October Thierry Lebeaux, Secretary General of the European Security Transport Association (ESTA) presented about the impact of less cash in the euro area on the cash in transit industry. Dr Rüdiger Voss also presented on the European Commission Euro protection and euro cash.

Future of Cash - November 29, 2024 midnight

Moving Beyond Neutrality: Now is the Time for Action

In September Franz Seitz and Gerhard Rösl published a paper laying out the challenges and risks faced by cash in countries moving to being less cash societies. It is a tour de force providing both facts and arguments about what can be done. It provides the context and the arguments for the future of cash discussions heard at every conference this autumn – ATMIA, Coin, Retail Branch Transformation, High Security Print.

Future of Cash - November 29, 2024 midnight

Research Based Campaigning for Cash

Pascal Wicht, Strategic Designer at SICPA, presented at October’s ATMIA conference on the social role of cash, particularly for Gen Z. This work forms part of the International Currency Associations (ICA) programme of understanding and advocating for cash by going beyond the pure retail and payment functions of cash.

Future of Cash - November 29, 2024 midnight