Digital Currency RSS

A major new report sets out key recommendations for the banking industry and urges regulators to give consumers certainty that their money is equally well-protected wherever they choose to bank. Banks must concentrate on harnessing a range of digital technologies or risk losing customers to a new wave of competitors, according to a new report [...]

The post Digital tipping point: Banks must focus on innovation to harness opportunities appeared first on Payments Cards & Mobile.

MTN Uganda has been forced to call a press conference, with high-ranking executives from both MTN and Stanbic. Stanbic bank’s Managing Director, Patrick Mweheire, opened by explaining that the briefing was being held at Stanbic to show more significance to the fact that MTN does not create – or keep – any of the money from the MTN [...]

The post MTN Uganda clarifies mobile money fraud rumours appeared first on Payments Cards & Mobile.

Setting out its approach to digital currency, the UK government has vowed to start applying anti-money laundering regulation to exchanges but also promising to put cash behind research into the potential of blockchain technology. Last August the government outlined plans to look into the risks and benefits of digital currencies and their underlying technologies. This was [...]

The post Money laundering rules for digital currency to be put in place by UK government appeared first on Payments Cards & Mobile.

IBM is rumoured to be considering adopting the underlying technology behind bitcoin, known as the blockchain, to create a digital cash and payment system for major currencies, according to a person familiar with the matter. The objective is to allow people to transfer cash or make payments instantaneously using this technology without a bank or clearing party [...]

The post IBM to create blockchain-based digital payments infrastructure for central banks appeared first on Payments Cards & Mobile.