PAYMENT SYSTEMS

NEWS

Reserve Bank of India Plans National Settlement System.  The Reserve Bank of India on Tuesday said it will set up an institution at the national level to own and operate all retail payment systems of the country. BS Banking Bureau in Mumbai, May 4, 2005.

Mexico Banks to Invest in Payment Systems. Mexico's banks plan to invest 1.6 billion pesos ($150 million) to enable 300,000 small stores to accept debit or credit card payments. Associated Press, July 4, 2005.

Japanese Edy E-Money Transactions to Top 10 Million in June. The number of purchases each month using the Edy e-money system is expected to surpass 10 million evidence that the use of electronic money is catching on in Japan, the Nihon Keizai Shimbun reported. AFX News Limited, June 23, 2005.

Financial DNA Releases its Assessment of Last Week's Major Payment Events -- Why Google Doesn't Stand a Chance Against PayPal and the Implications to the Security Breach at Card Systems. Financial DNA, LLC, the foremost source of Financial Technology insight for industry professionals and investors, has released its analysis of last week's watershed payment events -- the supposed entry of Google into PayPal's domain and the security breach at the Card Systems data processing center. Market Wire, June 22, 2005.

Tech Industry abuzz over 'Google Wallet' - Potential Expansion into Online Payments would have Huge Impact. Google Inc. is believed to be developing an online payment system that would pose a stiff challenge to online auctioneer eBay Inc.’s industry-dominating PayPal service. The Associated Press, June 21, 2005.

RECENT PUBLICATIONS

Liquidity, Risks and Speed in Payment and Settlement Systems – A Simulation Approach.  The main focus in this study is on liquidity requirements, settlement speed, gridlock situations, gridlock resolving methods, liquidity economizing, systemic risk, and the impact of shocks on system performance. The Bank of Finland, by Harry Leinonen, May 2005.

General Guidance for Payment System Development. This report aims to give assistance in and advice on the planning and implementation of reforms in the payment system as a whole. It underlines that the central bank is always a driving force in the development of the national payment system. The Committee on Payment and Settlement Systems (CPSS), May 2004.

Better than Cash? Consumer Protection and the Global Debit Card Deluge. This article examines the implications of the skyrocketing use of debit cards by consumers and the payment habits that affect their use such as the American addiction to credit cards. By Arnold S. Rosenberg, June 2005.

Payments and Securities Clearance and Settlement Systems in Brazil.  This Report contains a systematic in-depth description of Brazilian payments clearance and settlement systems and was prepared in the context of the Western Hemisphere Forum. The Western Hemisphere Payments and Securities Settlement Forum, Centre for Latin American Monetary Studies and The World Bank, September 2004.

EVENTS
Upcoming:

Commonwealth of Independent States Payments´ Week 2005. The event will provide an opportunity to convene both CIS authorities and the International Advisory Council of the Commonwealth of Independence States Payments and Securities Settlement Initiative (CISPI), led by the World Bank, in order to assess CISPI progress and agree upon next steps. It will also provide a venue to present and discuss the most relevant trends in the area of payment systems. Sponsored by the World Bank in cooperation with the CPSS and the Central Bank of Russia, St. Petersburg, Russian Federation, September 12-14, 2005.

Sibos 2005 Copenhagen - Transforming the financial industry.  This conference will explore what is at stake for the industry if it does not transform, what that transformation means for the financial community, and how it will achieve it. Organized by SWIFT, Copenhagen, Denmark, September 5-9, 2005

Unbanked Financial Services Innovation 2005.  This conference will discuss some of the most promising developments in the unbanked market, ranging from new remittance and payment services for the unbanked population to prepaid card providers and pawnshop/payday lenders. Organized by Financial DNA, September 14, 2005.  

Antitrust Activity in Card-Based Payment Systems: Causes and  Consequences.  This conference will present research on the causes and effects of antitrust actions and address the need for better information on the efficacy of the different remedies. Sponsored by the Federal Reserve Bank of New York and the Review of Network Economics, September 15 -16, 2005.

eCheck 2005. This Conference aims to present and facilitate the dissemination of information about how to strategically manage eCheck and Check 21-based payment services. Organized by the Electronic Payments Association, Florida, September 19-20, 2005.

EVENTS
Past:
 

The contribution of payment infrastructures to the European financial integration and to the establishment of the Single Euro Payments Area (SEPA) - 20th Anniversary of the European Banking Association (EBA). The importance, for the European financial integration, of the development of efficient and safe payment infrastructures and the progress made in this field since the launch of the euro. Speech by Mr Christian Noyer, Governor of the Bank of France, Paris, 23 June 2005. 

WHF  Payments Week 2005. This annual event gathered regional payment system authorities and IAC members to assess WHF progress and discussed the most important issues and trends in the field of payments and securities settlement, agreeing upon next steps. Hosted by the Banco de España and sponsored by CEMLA, the Committee on Payment and Settlement Systems (CPSS) and the World Bank, Madrid, Spain, June 20-24, 2005.

Clearing and settlement of financial markets: Europe and beyond. The objective of the conference was to explore the legal and economic issues and to help forge consensus on the role of regulation in clearing and settlement. Sponsored by Euroclear, the Bank of New York, the University of Illinois, and Cass Business School. London, June 16-18, 2005. 

SWIFT regional conference in Latin America, Brazil. Explored key issues in the payment system industry such as how payments clearing and securities settlements market infrastructures improve market efficiency and risk management and trends and solutions. Sao Paulo, Brazil, June 13-15, 2005.

The Future of Payments. The objective of this conference was to broach some forward-looking issues on how payment systems and payments media may look in the future and the implications of this for public policy in general and central banks in particular. Organized by the Bank of England, London, May 19 – 20, 2005.

NEWSLETTERS

Dialogue, ‘the voice of the SWIFT community’. The dialogue that takes place each year at Sibos inspired this magazine. It is designed to keep SWIFT’s conversation going throughout the year.

Electronic Payments Journal. The Electronic Payments Journal is published by NACHA - The Electronic Payments Association. It provides ACH (Automatic Clearing House) news and payments system information.

The ePaynews.com Weekly Newsletter. Published every Friday, this newsletter summarizes the top payments news of the week, as covered on ePaynews.com.

LINKS

Bank for International Settlements. The Bank for International Settlements (BIS) is an international organization which fosters international monetary and financial cooperation and serves as a bank for central banks.

SWIFT. This website provides news and information about the Swift community.

Western Hemisphere Payment & Securities Settlement Forum. The Western Hemisphere Payments and Securities Clearance and Settlement Initiative (WHI) has become a regional forum to discuss relevant issues in the field of payments and securities clearance and settlement.

World Bank Payment Systems. Latest news reports, publications, events, analysis, policy notes and more related to this topic from official institutions, international organizations, academia and others.

Eurogiro Network. Eurogiro is a low value payment solution between banks and postal organizations.

Payment News. This website presents the latest news on the Payment System industry.

The electronic Payment Systems Observatory (ePSO). This site is updated regularly and provides useful links to articles, proceedings, data and other sources of information on electronic payments.

World Bank E-Security/E-Finance. This site acts as a clearing house for knowledge on how to better manage the risks associated with open network architectures; and to assist policy makers, supervisors, private market participants, and consumers of financial services become more educated about the complex trade-offs and actions needed to manage these risks and protect digital assets.