BIS and Central banks lay out CBDC principles
SWIFT Paper on gpi
Visa enhances Payables with Stripe Connect
Mastercard invests in Marqeta
P27 buys Bankgiro
Nexi and SIA to merge
Verizon flags drop in PCI DSS compliance
ING survey suggests Open banking ambivalence
Central banks and BIS have published a report laying out key requirements for a CBDC. Report Exec summary
The Report assesses the feasibility of publicly available CBDCs in helping central banks deliver their public policy objectives and outlines foundational principles and core features of a CBDC but does not give an opinion on whether to issue them. It is the first in a series from a group of central banks.
The paper sets out to show how SWIFT and its community have worked together to tackle many of the key frictions inherent in cross-border transactions and have already made payments faster, fully traceable and transparent through gpi.
The new solution will enables buyers on Visa Payables Automation to pay suppliers, who are unable to accept digital payments, through the use of a virtual Visa card, helping bring suppliers who are not plugged into the traditional banking infrastructure into the digital economy.
Mastercard and Marqeta have extended their global partnership.
The partnership will help expansion into new geographies, open access to new products, and launch additional card programs. Beginning in Asia Pacific, the two companies will expand their collaboration, optimizing for global scale and driving efficiencies across their businesses. Mastercard will also make a financial investment in Marqeta following Visa that invested in the company in 2017 and made a similar APAC move last year.
P27 Nordic Payments Platform has announced it is to acquire Bankgirot.
Bankgirot supports the Swish real time payment system and P27 says the acquisition marks a very important step in its ambition to create one common payment platform in the Nordic countries.
The new PayTech will be the largest Group in Continental Europe with c2 million merchants, c120 million cards, and an overall number of processed annual transactions of more than 21 billion. Shareholdings will split 70/30% Nexi/SIA and remain listed on the Milan exchange with an aggregate capitalisation of over €15 billion.
The report explores why sustainable compliance PCI DSS continues to decline. Compliance levels saw a drop of nearly 9% last year and have seen a 27.5% drop since 2016.
ING survey: We’re still suspicious about Open Banking.
The ING International Survey – polling in 13 European countries — indicates there is a disconnect between what people say and what people do when it comes to sharing personal data. The findings show that sharing personal data and interacting with technology in new ways are not developments that people unanimously support and there are significant differences in attitudes across countries.
Users gain access by scanning their debit card, with cameras and ‘smart shelves’ tracking purchases and automatic payment on exit. Similar to Amazon Go but does not require an app.