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Payment System Access
Nigeria: Central Bank Publishes Circular on Instant (Inter-Bank) Electronic Funds Transfer Services
14th Sep 2018 | Written by:
On September 13, 2018, the Central Bank of Nigeria (CBN) published Circular BPS/DIR/GEN/CIR/05/011, establishing the operational rules of the Instant Electronic Funds Transfer Services, an instant...
UK: LINK Publishes ATM Footprint Report, with PSR Response
12th Sep 2018 | Written by:
On September 12, 2018, the UK's cash machine (ATM) network LINK, in line with its previous commitments, published its first report unveiling data regarding the geographical coverage of ATMs in the...
Nigeria: Central Bank Consults on Regulatory Requirements for Non-Bank Merchant Acquiring
10th Sep 2018 | Written by:
On September 7, 2018, the Central Bank of Nigeria (CBN) launched a public consultation, seeking comments on a draft instrument aimed at regulating the provision of acquiring services by non-bank...
Costa Rica: Central Bank Publishes Revised Rules on National Electronic Payments System
5th Sep 2018 | Written by:
On September 4, 2018, the Central Bank of Costa Rica (BCCR) published an updated version of the Payment Systems Regulations. The instrument regulates the organisation and operation of the National...
Brazil: New Rules for Participation in Central Bank's Real-Time Gross Settlement System
4th Sep 2018 | Written by:
On September 3, 2019, Circular Letter No. 3.904/2018 was published in the official gazette. The paper, which was drafted by the Department of Banking Operations and Payment Systems of Banco do...
First Fintech Goes Live On SWIFT Cross-Border Payment Scheme
31st Aug 2018 | Written by:
SWIFT has seen the first fintech launch on its cross-border payment service, as UK-based company Ebury becomes the first non-bank to participate in the global payments innovation (gpi) initiative.
Philippines: Senate Passes National Payment Systems Act
30th Aug 2018 | Written by:
On August 28, 2018, the Senate of the Philippines passed a draft of the National Payment Systems Act following the third reading....
India: RBI Governor Speech on Launch of Unified Payments Interface Version 2.0
17th Aug 2018 | Written by:
On August 16, 2018, Urjit R. Patel, the governor of the Reserve Bank of India (RBI), delivered a speech to accompany the launch of Version 2.0 of the Unified Payments Interface (UPI). The system...
Albania: Central Bank Consults on Reform of National Payment Services Framework
8th Aug 2018 | Written by:
On August 7, 2018, the Bank of Albania launched a public consultation on the draft law “On Payment Services in the Republic of Albania”, which aims to modernise the existing regime in relation to...
Australian Competition Review Backs Interchange Ban, Merchant Fee Review
7th Aug 2018 | Written by:
Advisors to the Australian government have called for interchange fees to be banned by the end of next year and suggested that authorities should investigate direct regulation of the merchant...
Australia: Productivity Commission Consults on Competition in Financial System
6th Aug 2018 | Written by:
On February 7, 2018 the Productivity Commission launched a consultation on a draft report on competition in the Australian financial system. The report provides an overview of the development of...
Lithuanian Authorities Launch Interbank Mobile Payment Strategy
3rd Aug 2018 | Written by:
Lithuania’s payments regulator has launched a new initiative to allow transactions using only the recipient’s phone number, as part of the country’s recognition of the growing ubiquity of mobile...
Canada: Department Of Finance Launches Review of The Payments Act
2nd Aug 2018 | Written by:
On May 25, 2018, the Department of Finance launched a public consultation aiming to review the Canadian Payments Act, which regulates the payment clearing and settlement systems operated by...
Nigeria: Revised Nigeria Bankers’ Clearing System Rules
2nd Aug 2018 | Written by:
On August 1, 2018, the Central Bank of Nigeria (CBN) published a circular on revised Nigeria Bankers’ Clearing System (NBCS) Rules 2018, as part of the country’s efforts to promote electronic...
UK: PSR Publishes Report On Contactless Mobile Payments
31st Jul 2018 | Written by:
On July 31, 2018, the Payment Systems Regulator (PSR) released a report regarding the implications of contactless mobile payments (CMP) on the local payments industry, as part of its role promoting...
Swiss Regulator Takes First Enforcement Action Against ICO Issuer
27th Jul 2018 | Written by:
Switzerland’s financial regulator has opened enforcement proceedings against the issuer of an initial coin offering (ICO) for the first time in its history, after suspicions the company was...
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