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UK shuns cash as cards dominate payment market
The way we pay for everything is changing, with more digital transactions than ever before. But how close are we to the tipping point? This weekend saw the end of cash as Britain’s dominant method of payment, and you probably didn’t even notice.Supposedly March 8 was the date on which transactions made be via credit, [...]
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Samsung waives fees for Samsung Pay mobile payment service
Samsung, which is gearing up to launch its own mobile payment service, Samsung Pay, in Korea and the US this summer, has decided not to collect fees on Samsung Pay to help dominate the rapidly-growing mobile payments market. Samsung’s move appears to be aimed at securing new markets related to mobile payments, rather than putting [...]
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EBA CLEARING working on pan-European instant payment infrastructure solution
EBA CLEARING announced today the kick-off of an Instant Payment Task Force to support the Company’s ongoing work on the creation of a pan-European solution for instant payment processing. The major provider of pan-European payment infrastructure solutions is preparing for possible services geared at responding to instant payment-related demands by payment service providers (PSPs) in [...]
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Bank of England: The economics of digital currencies
Digital currencies represent both innovations in payment systems and a new form of currency. This article examines the economics of digital currencies and presents an initial assessment of the risks that they may, in time, pose to the Bank of England’s objectives for monetary and financial stability. A companion piece provides an introduction to digital [...]
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ECB: Digital currencies unstable
The European Central Bank has published a new report on digital currencies, describing them as “inherently unstable” whilst remaining upbeat about the potentially transformative benefits they may offer in payments. The ECB study builds off an earlier study published in 2012, offering both a general overview of digital currencies as well as follow-up analysis on the potential benefits and [...]
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