Bank Indonesia has launched a cooperation with the Bank of Thailand that enables consumers and merchants in both countries to make and accept instant cross-border quick response (QR) payments for goods and services. This is in line with the principles of the ASEAN Central Bank Governors’ Meeting in April 2022 (which is one of Indonesia’s G20 Presidency Events) and Indonesia’s Payment System 2025 Visions. The Quick Response Indonesian Standard (QRIS) and Thai QR codes will be used in this cooperation.
Fintech is no longer a niche space in Africa, and over the last few years has become a core market segment not just in South Africa, but across the African continent. Our new episode takes a closer look at fintech in South Africa and the Sub-Saharan African Region.
Our new episode of FInsight: Global Financial Institutions Industry Podcast takes a look at the hot topics and developments that will be covered in this year’s UK Fintech Week.
In the ninth installment in the Finding Balance series, we take a closer look at the impact of new technology on financial institutions.
In our article, first published in the December 2020 edition of Butterworths Journal of International Banking and Financial Law, our payments regulation experts Mark Simpson, Julian Hui and Connie Faith highlight some of the additional questions and unintended consequences raised by Supercapital and argue that legislative intervention is required to update the PSRs safeguarding regime.
On 12 November 2020, the Ukrainian Parliament published a draft payment services law, that was prepared with the Ukrainian central bank (NBU). Among other things, the draft law would implement a regulatory framework for “open banking” similar to the EU’s PSD2 (Directive 2015/2366).