The Central Bank of Egypt (CBE) has introduced a series of measures designed to reduce the need for citizens to use cash to make payments, including a doubling of the contactless payment transaction limit and free access to both prepaid card and mobile wallet services... More
ANZ is to provide free contactless debit transactions “for eligible small business customers” in New Zealand until 30 June, the bank has announced... More
Banks in Ireland have agreed to increase the contactless transaction limit from €30 (US$32.17) to €50 (US$53.54) “to minimise the handling of cash amid Covid-19”, The Irish Times reports... More
A new open banking system which is set to cut transaction fees by 90% has now entered pilot testing, Korea’s Financial Services Commission (FSC) has announced... More
Banks are at risk of losing up to 15% of global payments revenue, valued at US$280bn, due to “the growth of digital payments and competition from non-banks”, Accenture predicts — but they also have the opportunity to capture US$500bn in new payments-related revenues “if they adopt innovative business models”... More
Apple is to charge participating banks a 0.2% transaction fee when its Apple Pay service launches in Slovakia later this year, according to local newspaper Hospodárske Noviny... More
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