Central Bank Payments News
Central Bank Payments News (CBPN) – a Currency Research (CR) initiative – is a monthly e-publication dedicated to informing the worldwide central bank payments & market infrastructure community of the most relevant and timely payments issues impacting the central bank today.
With a unique and in-depth payments focus tailored to a central bank perspective, CBPN is an independent and comprehensive source of intelligence that delivers reliable and unbiased news to the global central bank payments community.
CBPN regularly monitors the landscape for the latest news, research, and developments in the central bank payments ecosystem. We address the most relevant topics currently impacting central banks and monetary authorities across the globe and periodically focus on pertinent issues in consumer/retail/commercial payments.
Topics regularly covered in CBPN include: Blockchain & DLT; Cards; Central Bank Digital Currency; Cross-Border Payments; Crypto and Stablecoins; Cybersecurity; Digital Banking; Digital Identity; Financial Inclusion; Fintech & Sandboxes; Infrastructure & Modernisation; Instant Payments; Mobile Payments; Open Banking; Regulation; and Retail Payments.
Cash & Payments News
Digital Currency News
Each week Digital Currency News (DCN) provides a summary of CBDC news and key papers, all in the context of the wider payments landscape. DCN scans all the news on digital currencies generally, and CBDCs in particular, and highlights four news items each week with a comment. It focuses on serious papers by the likes of the BIS, IMF, central banks, and academics and each week summarises at least one. There is a weekly newsletter that can be sent directly to you or there is the Digital CN website which holds the latest newsletter, all the summaries, a glossary of CBDC-related terms, and a link to the Atlantic Council CBDC tracker.
If you are short of time but want to understand and track key CBDC and digital currency development, Digital Currency News is for you.
The Cash News Podcast
Universal Access to Payments
Universal Access to Payments (UA2P) is a not-for-profit initiative that has financial inclusion at its core. It is a small action-oriented group, gathering thought leaders from up to 30 organisations from around the globe to work on solutions that help to provide access to payments for all and make sure that nobody gets left behind.
Research Reports
Currency Research authors informative reports to expand the knowledge base of our industry and highlight issues that affect us all.
Decoding CBDC Reports
In this report series you will learn:
- Which types of CBDC architecture are available
- Finding the right solution for successful CBDC issuance and adoption
- Defining the CBDC provider landscape
- Differentiating the current market offerings
PART I: CBDC DESIGN AND TECHNOLOGY CONSIDERATIONS
The first report in this series focuses on the importance of selecting the right Central Bank Digital Currency (CBDC) solution for successful implementation. It highlights that the choice of a CBDC solution is a critical building block that paves the way for widescale adoption. The report critically examines key core design decisions for CBDC and explores the unique features that central banks look for when searching for a CBDC solution compared to other payment systems. It emphasizes the need for careful consideration and thoughtful decision-making to ensure the successful implementation of CBDC.
PART 2: ASSESSING THE CBDC PROVIDER LANDSCAPE
The second report in the series provides a comprehensive catalog of representative CBDC infrastructure solutions available in the market. It offers a comparative analysis of the different offerings, enabling central banks to make informed decisions when sourcing CBDC technologies and solutions. The report acknowledges that the CBDC provider landscape is evolving rapidly, and the analysis provided represents only a snapshot of the available networks and solutions. Central banks are cautioned to remain vigilant and keep track of market developments and evolving solutions to align with their needs.
PART 3: ENTERING THE NEXT PHASE OF CBDC EXPLORATION
The final report in the series addresses the numerous issues central bankers need to weigh as they move toward the next phase of CBDC exploration. It emphasizes the need for central banks to continue experimenting with aspects of CBDC, such as programmable and offline payments, considering the significant technical and policy challenges involved. The report also stresses the importance of best practices for private sector engagement to lay the groundwork for successful adoption and usage of CBDC by end-users. Lastly, it highlights the necessity of monitoring developments and innovations in the CBDC space, as they can rapidly influence policy and design options.
The Case for Cash Part One: Myths Dispelled
The Case for Cash, Part One: Myths Dispelled examines some of the most prevalent myths surrounding the cash world, in order to dispel the misinformation that has arisen around the product. Dispelling the myths is necessary to ensure central banks and governments have an unbiased and objective framework for payment systems planning, which ultimately affects us all both now and into the future.
Cash deserves the continued investment and support of Central Banks, Government, and private industry, despite the “noise” from other industries, so we hope you will join us in dispelling these myths!
SOME OF THE MYTHS INCLUDE:
- Cash is expensive
- The cashless society is just around the corner
- Without cash, crime would decline or disappear
- Cash demand is declining
The Case for Cash Part Two: The Justification
We again separate fact from fiction by delving into published research and survey findings to focus positively on why Central Banks should invest in cash and take an active role in supporting and defending the use of cash as a means of payment.
The Central Bank’s primary role is to support and promote the economic and financial welfare of its country and citizens. Banknotes and coins are key in supporting this role. Cash upholds a Central Bank’s mandate in many ways: by providing a safe, efficient, and trusted means of payment and store of value to citizens, by supporting the monetary independence of the Central Bank, and by acting as a potent and unifying national symbol. In this report, we examine research from a range of objective sources and discuss the many social and economic benefits of cash in relation to both the Central Bank’s objectives and the stability and confidence of the nation. We argue that these benefits justify the continued Central Bank policy of providing banknotes and coins to the public.
Survey of central banks on the impact of COVID-19 on cash and digital payment policies
- How have policymakers acted to promote digital payments during this challenging time?
- What types of approaches have they taken, and how have they differed?
- What types of measures have been put into effect to assuage concerns about using cash?
SECTIONS
- Introduction
- Changes in cash usage and cash processing policies
- Changes in non-cash payment usage and policies
- Implications and outlook for the payments industry
- Conclusion
COST
- Central Banks and Government Agencies – $450 USD / 375€
- Commercial Organisations – $1,140 USD / 950 €
Diamond Sponsor
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realise their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
Gold Sponsor
The Clearing House operates U.S-based payments networks that clear and settle more than $2 trillion each day through the wire, ACH, check image, and the RTP® network. It is the nation’s most experienced payments company, with a long track record of providing secure and reliable systems, payments innovation, and strategic thought leadership to financial institutions. Most recently, The Clearing House has revolutionized U.S. payments infrastructure with the RTP network, which supports the immediate clearing and settlement of payments, along with the ability to exchange related payment information across the same secure channel. These RTP capabilities enable all financial institutions to offer safer, faster, and smarter digital transaction services for their corporate and retail customers.
Covid-19: A Time to Protect the Future of Cash Special Report is available now
Could the global outbreak of the Covid-19 pandemic finally spell the death of cash? If the industry isn’t careful in its messaging and approach at this critical moment, the long-predicted demise of physical currency could be imminent. Our current crisis has once again raised familiar arguments against banknotes and coins. The media, commercial payments firms, health ministers, and even many central banks are advising against cash use in an effort to prevent the spread of the virus. Contactless payments are increasingly taking the spotlight, with cash being pilloried as dirty and unhygienic. And now pundits are predicting that the pandemic will be the catalyst that will bring digital payments into the global mainstream. In this brief report, we take a look at how cash is currently being discussed in the media, as well as the central bank’s response to concerns about the cleanliness of physical currency.
Our messaging is clear. Cash is a humanitarian right; billions of unbanked and underbanked people continue to rely on cash and have few viable alternatives to make payments. As the research shows, we know that cash transactions pose the same risk level as other daily activities, including card payments, especially when partnered with the hygiene protocols put forward by WHO.
Through CR’s initiatives supporting education and knowledge-sharing within the cash and payment industries, we help improve the lives of people by supporting their rights for faster, cost-effective, secure choices in payments. CR is publishing this essential report free of charge to extend the reach of this vital work to a wider audience because the implications of moving to a cashless society are complex and far-reaching and have an impact on society as a whole.
If your organization would benefit from CR’s knowledge in cash and payments, contact Jens Seidl, President/CEO, to discuss how our consulting team can assist you.
If you are unable to access the request form, please contact us for assistance.
The Cash Industry in Transition Report
From the unique perspective of Currency Research (CR), the only global communications, consulting, and conferencing business operating in both cash and payments, this report examines the impact of external and internal forces on the companies and government departments involved with the cash cycle as a whole.
The Cash Industry in Transition (CIIT) report concludes that central banks are in the difficult position of receiving criticism if they express support for cash but are also criticized if they support the move away from cash. They are navigating through truly uncharted territory and must be pragmatic in planning and preparing for a less-cash future. The cash industry must also hasten its planning for a less-cash society while maintaining a robust cash industry – not an easy task.
CR believes this report will be invaluable to both the currency and payments functions within central banks to help guide immediate and future planning and policy endeavors. Central banks across the globe are taking proactive measures to adapt to the new realities being introduced by innovations in the payments space, and this report provides an overview of some of these initiatives.
Additionally, the report is also important to the cash industry itself, orienting the industry to areas of pressure and disruption and challenging current and future responses to the industry.
Whether your organization sees the transition in the cash industry from the lens of a cash focused organization or from a payments perspective, the Cash Industry in Transition Report is a valuable thought-leadership piece that analyzes the state of the industry today, and how the industry will likely transform in the next few years.
Through CR’s initiatives supporting education and knowledge-sharing within the cash and payment industries, we help improve the lives of people by supporting their rights for faster, cost-effective, secure choices in payments. CR is waiving the $875 fee for The Cash Industry in Transition to extend the reach of this vital work to a wider audience because the implications of moving to a cashless society are complex, far-reaching, and have an impact on society as a whole.
If your organization would benefit from CR’s knowledge in cash and payments, contact Jens Seidl, Currency Research CEO/President, to discuss how our consulting team can assist you.
If you are unable to access the request form, please contact us for assistance.
Companies mentioned in the report: Amazon, Ant Financial/Alipay/Alibaba, Apple, Baidu, Banco Central del Ecuador, Bank Note Paper Mill (BNPM) India, Bank of Canada, Bank of Finland, Bank of Ghana, Banque de France, BBK, Board of Governors of the Federal Reserve, Brink’s, BS2/Penki Kontinentai Group, Canadian Banknote Company, Cash & Payments News, Central Bank of Kenya, China Banknote Printing and Minting Corporation (CBPM),Crane Currency, Currency News, Currency Research, De La Rue, De Nederlandsche Bank, Europay, Facebook/Libra, Federal Reserve, Federal Reserve Bank of Boston, Federal Reserve System National Cash Product Office, G4S, Gardaworld, Giesecke+Devrient, Global, Google, GOZNAK, Huawei, IMF, Jumia, KOMSCO, Landqart, LINK, Loomis, Lyft, Mastercard, Mint Quarterly, Mobile Payments Institute Kenya, Monetary Authority of Singapore (MAS), MTN Nigeria, National Bank of Rwanda, NCR, Oberthur Fiduciaire, Oppo, orell füssli security printing, Paystack, Polish Security Printing Works (PWPW), Portals Paper, ProgressSoft, PromptPay, Prosegur Cash, PT Pura Buratama, PYMNTS, Reserve Bank of Australia, Reserve Bank of Malawi, Samsung, Stripe, Sverige Riksbank, Swiss National Bank, Tencent/WeChat Pay, The Royal Mint, Travelex, Uber, UnionPay, Visa, World Bank
Other Cash Reports
COMPLETED REPORTS
- Central Bank Best Practices: Banknote Destruction, Disposal, and Recycling (Released May 2016)
- The Case for Banknote Numismatic Programs: Why and How (Released May 2016)
- Benchmarking Report: High-Speed Cash Processing (Released January 2015)
- Re-Engineering Currency Circulation: An International Study of Cash Handling Models (Released September 2013)
AUTHORIZED TRANSLATIONS
- Cards on the Table – The Reasons Why Banks Want to Eliminate Cash by Björn Eriksson
If your organization would benefit from CR’s knowledge in cash and payments, contact Jens Seidl, President/CEO, to discuss how our consulting team can assist you.
If you are unable to access the request form, please contact us for assistance.
