Payments

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How the government’s new real-time payments system could transform commerce

By Rey Mashayekhi
August 9, 2020, Fortune

On Thursday, the Federal Reserve unveiled new details about FedNow Service—a new real-time payments platform that would enable financial institutions in the U.S. …

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Regulators plot path for cross-border payments to counter Facebook

By Huw Jones
July 13, 2020, Reuters

Streamlining anti-money laundering checks, longer central bank opening hours and linking national systems would cut cross-border payment costs, global regulators said on Monday.…

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New rules may be needed for payments in wake of Wirecard, BIS boss says

By Marc Jones and Huw Jones
June 30, 2020, Reuters

More joined up rules may be needed across the payments sector after the collapse of Germany’s Wirecard AG, Bank for …

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Wirecard… the biggest accounting fraud? Is the customer’s money safe? The end of Banking-as-a-Service?

By Chris Skinner
Originally published at Chris Skinner’s blog, The Finanser

Some of us are old enough to remember Arthur Anderson and Enron, a mixture of two companies that created …

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Germany missed chances to catch Wirecard

German regulators missed two chances to take a closer look at scandal-plagued payments firm Wirecard, according to a Reuters source.…

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Wirecard scandal puts regulators, EY in hot water

Germany’s financial regulator and accountants EY face anger over their roles in oversight of Wirecard, the German payments firm that collapsed this week owing billions of dollars.…

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