What's New in Payments

Japanese banks gear up to test digital currency

Japan Digital Currency Forum diagram showing aspects of the planned digital currency

A consortium of more than 70 leading banks, financial services providers and other businesses in Japan is to conduct a series of proof of concept (PoC) trials of a digital currency supported by commercial banks across a range of specific use cases with the aim of rolling the currency out by the end of the 2022 fiscal year... More





What's New in Payments

Beijing offers public transport users discounts to encourage digital yuan fare payments

The Ruubypay app running on a phone

Passengers on bus, subway and suburban rail services in the Chinese capital Beijing can now receive a discount and pay as little as 0.01 yuan for their journey if they use the country’s central bank digital currency (CBDC) to pay their fares from a digital yuan mobile wallet issued by the Industrial and Commercial Bank of China... More











What's New in Payments

PBOC: Chinese consumers will be able to store their digital currency in both physical and digital wallets

Front of the PBOC building, Beijing

Chinese consumers can now open digital yuan wallets using different levels of customer identification depending on the transaction and balance limits they require and can activate wallets “with the lowest authority” with just their mobile phone number in line with the “principle of controllable anonymity”, the People’s Bank of China (PBOC) has revealed... More



What's New in Payments

Bank of England sets out core principles for digital pound

Financial inclusion, creating a competitive ecosystem, comparison with other payment innovations, user privacy and monetary and financial stability will be the five core principles that guide the Bank of England’s future exploration and development of a central bank digital currency (CBDC) in the UK, the financial institution has revealed... More