The Financial Regulation Forum
payment systems
Banking on mobile phones: Kenya’s mobile payments system
12 Jun. By clicking a few keys on a mobile phone, money can be zapped from one part of Kenya to another in seconds. For urban migrants sending money home to their villages, and for people used to queuing at banks for hours to pay bills or school fees, the M-PESA money-transfer service, operated by [...]
Liquidity saving in real-time gross settlement systems
28 May. Large Value Payment Systems (LVPSs) have been redesigned so that the payments they process are settled on a ‘Real-Time Gross Settlement’ (RTGS) basis. True RTGS systems eliminate interbank credit risk in the payment system. However such RTGS systems can require relatively large amounts of liquidity to be available. So some of the more [...]
Snippet: A new course for credit cards in Canada?
26 Apr. In a report titled Charting a new course for the credit card industry, Deloitte says that in the wake of record industry losses, consumer bankruptcies and the recently announced voluntary Code of Conduct for the Credit and Debit Card Industry in Canada, the credit card industry has been transformed from one of the [...]
Snippet: Debit card charges
22 Mar. The Federal Reserve Bank of Kansas City’s published an article titled “Regulating Debit Cards: The Case of Ad Valorem Fees“: Debit cards have become an indispensable part of the US payments system, accounting for more than a third of consumer payments at point of sale. With this development has come controversy: Card networks [...]
Snippet: Visa, the future of everyday payments in Europe
24 Jan. The visa report “The Future of Everyday Payments in Europe“, concludes: In order to extend and accelerate the use of electronic payments in Europe, more innovation will be necessary. However, this “innovation” could take many forms and come from many different sources. Three distinct stakeholder groups have a central role to play in [...]
Snippet: US consumer fees
29 Dec. Banks are scrambling to find new footing as lawmakers and regulators undermine one of the industry’s profit foundations: consumer fees. Federal rules on credit card practices instituted a year ago kicked off a year in which fee income, a large and dependable source of retail banking profits, came under assault on many fronts. [...]
Snippet: 2008 Survey of Consumer Payment Choice
26 Dec. The 2008 version of the Survey of Consumer Payment Choice fills a gap in knowledge about the role of consumers in the transformation of payments from paper to electronic by providing a broad‐based assessment of US consumers’ adoption and use of nine payment instruments, including cash. The average consumer has 5.1 of the [...]
Cheques to go by 2018!
The death knell for cheques has been sounded after the decision on Wednesday by the UK Payments Council [see below] to abolish the national cheque clearing system, a move that in effect makes the 350-year-old cheque payment system redundant. There has been a steady fall in the use of cheques in the UK over the [...]
Snippet: Cheques to disappear by 2018
17 Dec. The death knell for cheques has been sounded after the decision on Wednesday by the UK Payments Council to abolish the national cheque clearing system by 2018, a move that in effect makes this 350-year-old payment method redundant. There has been a steady fall in the use of cheques over the past 10 [...]
E-learning interactive graphic: Central banks compared
A central bank, reserve bank, or monetary authority is a country’s primary monetary authority. Central banks usually have responsibility for issuing currency, administering monetary policy, holding member banks’ deposits, facilitating the nation’s banking industry, and acting as a lender of last resort to the banking sector during times of financial crisis (private banks often being [...]
Please Help
PLEASE HELP US TO CONTINUE THIS SERVICE AND IMPROVE INFORMATION CONTENT
If you found the information on this website useful and if you or your company would like to see it expand please click on DONATE. Thanks on behalf of the Financial Regulation Forum and the Financial Sector Forum - Editor.© 2012 The Financial Regulation Forum. All Rights Reserved.
Powered by WordPress. Designed by 