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Executive Board of the ECB defends use of cash in Eurozone
In a speech by Yves Mersch, Member of the Executive Board of the ECB, at the 4th Bargeldsymposium of the Deutsche Bundesbank last week he defied the growing convention that Europe will be cash free by “insert date”, instead defending the use of cash in society. “The particularly good cooperation between the various Eurosystem central banks [...]
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Berlin Group publishes Version 1.0 of the NextGenPSD2 Framework
The Berlin Group has published Version 1.0 of the NextGenPSD2 Access to Accounts (XS2A) Framework that enables Third Party Providers (TPPs) to access bank accounts under the revised Payment Services Directive (PSD2). Version 1.0 integrates extensive public market consultation feedback and is based on the European Commission adopted European Banking Authority (EBA) Regulatory Technical Standards [...]
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American Express loses key European Court of Justice fees battle
The British Airways American Express credit card is among those likely to be removed from the UK market after the European Court of Justice (ECJ) issued a ruling against the card provider. American Express lost the appeal, which means it will now be limited in the amount it can charge retailers that accept Amex payments [...]
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European Commission launches EU Blockchain Observatory and Forum
The European Commission has launched the EU Blockchain Observatory and Forum with the support of the European Parliament, represented by Jakob von Weizsäcker responsible for the recent report on virtual currencies. The Blockchain Observatory and Forum will highlight key developments of the blockchain technology, promote European actors and reinforce European engagement with multiple stakeholders involved [...]
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Nigeria to shut failing mobile money operatives
Nigeria’s authorities are set to revoke the licences of at least 15 struggling mobile money operators under new minimum finance rules, according to press report. The report tips the majority of the 21 companies operating mobile money services in the country to fall foul of tough new cash requirements. Central Bank of Nigeria (CBN) rules, [...]
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