What's New in Payments

Visa proposes CBDC protocol that lets consumers exchange digital cash via Bluetooth or NFC

Visa paper on CBDC protocol enabling consumers to exchange digital cash via NFC or Bluetooth

Visa has published a research paper exploring an offline payment system (OPS) protocol for central bank digital currencies (CBDC) that would enable users to make digital payments to other users even when both sender and recipient are temporarily offline or unable to connect to a bank, payment network or other intermediary... More






What's New in Payments

Bermuda trials digital stimulus token to distribute financial aid to citizens’ mobile phones

Bemuda's Premier David Burt using digital payment stimulus token

Residents and retailers in Bermuda are taking part in a pilot to test the viability of a “digital stimulus token”, which the Bermudan Government hopes to use to distribute financial aid more efficiently and to facilitate the purchase of food and other essential items during and beyond the Covid-19 pandemic... More





What's New in Payments

Facebook scales back its digital currency plans

Facebook-backed Libra cryptocurrency project is scaled back — The New York Times — “The Libra project will now focus on creating a more traditional payment network in which coins will be tied to a local currency, somewhat like the digital dollars in a PayPal account. While Libra will also have a coin backed by multiple national currencies, which was the focus of the initial design documents, that will be less prominent.”


What's New in Payments

IBM patents self-aware cryptocurrency token

IBM awarded patent for ‘self-aware token’ — Coindesk — “The patent outlines a ledger-based payments system that could make it easier for individual users, businesses and governments to track and trace transactions made using a cryptocurrency. Dubbed the ‘self-aware token’, it is designed to record all transaction data when not being used on a payments platform IBM patented in 2012. When the token rejoins the platform ecosystem at a later stage, it automatically uploads data from any ‘off-line transactions’.”





What's New in Payments

Payments networks to drop support for Facebook’s Libra digital currency?

Visa, Mastercard, others reconsider involvement in Facebook’s Libra network — The Wall Street Journal — “Visa Inc, Mastercard Inc and other financial partners that signed on to help build and maintain the Libra payments network are reconsidering their involvement following a backlash from US and European government officials, according to people familiar with the matter.”




What's New in Payments

Visa, Mastercard and PayPal back Facebook’s Libra cryptocurrency launch

The Libra Association — Libra — “Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system… The Libra Association is made up of a group of diverse organizations from around the world… This initial group of organisations will work together to finalize the Libra Association’s charter and will become the association’s Founding Members upon its completion.”