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payment systems

This tag is associated with 31 posts

E-learning interactive graphic: Payment systems oversight

By Coastal Roy ⋅ 1 June, 2011 ⋅ Post a comment

Principles for the oversight of payment systems Central banks’ involvement in the oversight of payment systems arises from their core role as the systems’ settlement bank, providing the ultimate settlement asset, central bank money. This gives central banks a very direct interest in any potential systemic risks inherent in such systems. More broadly, payment systems [...]

Small US banks and debit-card reform

By Editor ⋅ 25 May, 2011 ⋅ Post a comment

25 May. Debit cards. It’s not hard to understand why large banks oppose any attempt to overhaul the financial arrangements currently surrounding credit cards and debit cards. In the duopoly run through Visa and MasterCard, big banks earn fees that far exceed their costs. Philip Scott Andrews/The New York TimesSenator Dick Durban, a Democrat from [...]

Checking account charges

By Editor ⋅ 19 May, 2011 ⋅ Post a comment

19 May. The Consumer Financial Protection Bureau, created by Congress last year as part of financial reform, has broad authority to ban unfair or abusive practices in financial products and services. Protecting checking account holders from unreasonable fees and other costly traps should be one of the agency’s first priorities when it opens for business [...]

Talk to a teller through an ATM

By Editor ⋅ 18 May, 2011 ⋅ Post a comment

18 May. World’s largest ATM provider unveils an Interactive Teller technology concept on their SelfServ 32 ATMs. NCR is putting the “teller” back in the “automated teller machine,” and helping banks and credit unions extend hours and services in the process. “Consumers cannot always bank during banking hours. They want service at a time and [...]

Protection for remittance transfers to a foreign country

By Editor ⋅ 18 May, 2011 ⋅ Post a comment

18 May. The Federal Reserve Board has requested public comment on a proposed rule that would create new protections for consumers who send remittance transfers to recipients located in a foreign country. The proposed rule would require that remittance transfer providers make certain disclosures to senders of remittance transfers, including information about fees and the [...]

Decline in card usage and increase in cash payments

By Editor ⋅ 12 April, 2011 ⋅ Post a comment

12 Apr. Boston Fed 2009 Survey of Consumer Payment Choice. The paper presents results of the 2009 Survey of Consumer Payment Choice (SCPC), along with revised 2008 SCPC data. In 2009, the average U.S. consumer held 5.0 of the nine payment instruments available, including cash, and used 3.8 of them during a typical month. Between [...]

NACHA Payments 2011 Conference

By Editor ⋅ 7 April, 2011 ⋅ Post a comment

07 Apr. NACHA 2011 Key Themes. Mobile Mobile Mobile – No self-respecting payments industry event can ignore mobile. There were a number of sessions devoted to mobile banking and payments, often in conjunction with P2P transactions. Every bank is eager to develop its mobile play (feels a lot like the late 90s when everyone was [...]

Mobile payments in the US: Mapping out the road ahead

By Editor ⋅ 31 March, 2011 ⋅ Post a comment

31 Mar. In January 2010, the Federal Reserve Banks of Atlanta and Boston, through their Retail Payments Risk Forum and Payments Research groups, convened a selected set of key players in this country’s emerging mobile payments ecosystem. The goal of the meeting was to facilitate a discussion among all involved parties as to how a [...]

Mobile banking in the emerging world

By Editor ⋅ 30 November, 2010 ⋅ Post a comment

In Tanzania, a hospital sends money by text message to women in remote areas so they can pay for bus fare to travel for critically needed surgery. In Afghanistan, the government pays its police officers by text message to skirt corrupt middlemen. In Pakistan, the biggest financial network is not a bank, but a unit [...]

SEPA: a busy year is coming to its end and another exciting year lies ahead

By Editor ⋅ 29 November, 2010 ⋅ Post a comment

28 Nov. Speech by Gertrude Tumpel-Gugerell, Member of the Executive Board of the ECB, at Next Generation Cards & Payments Conference, Brussels, 25 November 2010 … New Year’s resolution number one: let’s define a SEPA [Single Euro Payments Area] migration end date There is a consensus that an end date is needed for the migration [...]

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