Central Banks/Government – wikipayresearch

HOW SHOULD CENTRAL BANKS EXPLORE CENTRAL BANK DIGITAL CURRENCY? – INTERNATIONAL MONETARY FUND

$ Transfers and Digital Payments, 2023, ALL CONTENT, Central Banks/Government, International Monetary Fund (IMF), Link / WikiPay Research

This report explores the context that central bank digital currency (CBDC) should be evaluated if designed appropriately.

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AS FEDNOW ROLLS OUT, THE US HAS MUCH TO LEARN FROM INDIA’S UPI

2023, ALL CONTENT, American Banker, Central Banks/Government, Fed Now, Link, Real-Time Payments, Unified Payments Interface (UPI) / WikiPay Research

A link to an article in American Banker describing challenges facing FedNow and valuable lessons that might be gained from India’s experience building real-time payment rails and UPI.

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CENTRAL BANK DIGITAL CURRENCY (CBDC) – SECURE ECOSYSTEM

$ Transfers and Digital Payments, 2023, ALL CONTENT, Central Banks/Government, PDF/DOC, Prasanna Lohar / WikiPay Research

A brief description of the steps that might be taken to create a retail and a wholesale central bank digital currency. This was originally a Linkedin post that was shared publicly.

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EUROPEAN COMMISSION INTRODUCES PSD3/PSR TO ADVANCE OPEN BANKING

$ Transfers and Digital Payments, 2023, ALL CONTENT, Central Banks/Government, Link, Open Banking, Real-Time Payments, Tink, Visa / WikiPay Research

In this white paper, TINK (a Visa company) explains how PSD3/PSR is a welcome addition to the development of open banking in Europe. PSR should address standardization issues and past problems with APIs. The requirements should be passed before the summer of 2024 with enforcement happening by the end of 2025.

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HOW FEDNOW AND FASTER PAYMENTS WILL IMPACT US FINTECH

$ Transfers and Digital Payments, 2023, ACH, ALL CONTENT, Bessemer Venture Partners, Central Banks/Government, Fed Now, Link, Marcel Van Oost, Other Strong Payments Component (e.g., insurance, healthcare), Real-Time Payments, Stablecoin, Venmo, Wallets, Zelle / WikiPay Research

FedNow’s promise of faster payments is not new. Aside from RTP and same-day ACH, we have seen faster payments in a number of forms: closed-loop P2P payments (Venmo, Zelle), wire transfers, stablecoins, and push-to-card. Each varies in settlement type, rail, limit, cost, push/pull capabilities, and transaction limits. This has created an ecosystem where U.S. money movement has become unnecessarily complex. In this white paper by Bessemer Venture Partners they explain that they expect to see more payment-first business models, and a new wave of fraud, and infrastructure to facilitate the patchwork of faster payments in the US.

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