US Consumer Financial Protection Bureau proposes new rule to oversee Big Tech digital wallet and payment app providers

Consumer Financial Protection Bureau (CFPB) logo

The US Consumer Financial Protection Bureau (CFPB) is proposing to subject large non-bank companies that offer consumer finance services including digital wallets and payment apps – such as Apple and Google – to the same regulatory scrutiny and oversight as banks, credit unions and other financial institutions... More



European Central Bank launches next phase of digital euro project

Digital euro symbol and words

The European Central Bank (ECB) has completed the initial two-year investigation phase of its digital euro project and will now implement a two-year preparation phase that will cover the finalisation of a digital euro rulebook, the selection of providers to develop a digital euro platform and infrastructure, as well as testing and experimentation across a range of use cases for the central bank digital currency (CBDC)... More





Utah to pilot blockchain digital IDs

Utah Division of Technology Services logo

The US state of Utah is to launch a pilot programme that will test the use of blockchain technology for the issuance of digital identity cards and other digital credentials that can be stored and used on a holder’s smartphone or other mobile device... More


Visa reports on passenger preferences for transit payments

More than four in ten transit passengers worldwide say that tapping their own debit or credit card to make open loop contactless fare payments is their preferred fare payment option (42%), followed by tapping a card stored in their mobile wallet (39%), using a closed loop transit card (38%), cash (31%) and app-based payment (29%), according to a Visa survey... More










Digital Identity Working Group lays out principles for interoperable digital identity systems

Digital Government Exchange (DGX) 400W

The Digital Identity Working Group (DIWG), made up of digital identity specialists from eight Digital Government Exchange (DGX) member states across the world, has identified 11 core principles to support international collaboration on the development of mutually recognised and interoperable digital identity systems and infrastructure... More



What's New in Payments

Survey reveals ‘sharp difference’ between consumer attitudes to CBDCs in emerging and developed markets

Graph showing survey results on likelyhood of consumers adopting CBDCs in emerging and developed markets

More than nine in 10 consumers in Nigeria (91%) and six in 10 consumers in Indonesia (60%) would be likely to use a central bank digital currency (CBDC) compared with less than 24% in the US and 14% in Germany, according to a report by Giesecke+Devrient and the Official Monetary and Financial Institutions Forum (OMFIF)... More