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Bank of England, Blockchain, Cryptocurrency, Daily news, E-Money, Metaverse, Non-Fungible Tokens - NFT's, Regulation -

Cryptoassets could have important roles within the Metaverse – a decentralised, immersive next generation of the internet. Cryptoassets enable verifiable ownership of digital items, and when built to common standards,... read more

The post Bank of England warns of systemic risk from crypto in the Metaverse appeared first on Payments Cards & Mobile.

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Bank of England, Daily news, FinTech, Open Banking, Regulation -

The Bank of England has gone on record saying it will allow FinTech companies to store funds overnight in interest-bearing accounts at the central bank, allowing them to bank at... more

The post Bank of England set to allow access to FinTechs appeared first on Payments Cards & Mobile.

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Bacs, Bacs Direct Credit, Bacs Payments Systems Limited, Bank of England, Daily News, Direct Debit, E-Money, Faster payments, Faster Payments Limited, FinTech, Instant Payments, Issuing & Acquiring, New Payments Systems Operator, NPSO, Paym, Payment System Regulator, Payments UK, Processing & Systems, Regulation, Remittance, Risk & Compliance, VocaLink -

As of May 1st, there has been a new operator of the UK’s two most important retail payment schemes. New Payments Systems Operator Limited – or NPSO for short – has acquired Bacs Payments Systems Limited and Faster Payments Limited, whose schemes move more than £6.4 trillion every year, through the Bacs Direct Credit, Direct [...]

The post Main UK payment systems effectively privatised to one person appeared first on Payments Cards & Mobile.

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Bank of England, Daily News, E-Money, Instant Payments, Issuing & Acquiring, Payment System Operator, Payment Systems Regulator, Processing & Systems, PSR, Regulation -

The Payment Systems Regulator (PSR) and Bank of England (BoE) have announced that the Payment System Operator Delivery Group (PSODG) has completed the necessary steps to deliver against the mandate that the regulators tasked it with. Following the appointment of Melanie Johnson as its first chair, work will continue at pace to deliver the New [...]

The post PSR: New Payment System Operator formed appeared first on Payments Cards & Mobile.

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