Noncash payments in the U.S. continue to grow, with the total value increasing at a rate of 9.5% per year 2018 to 2021, according to the most recent survey data from the Federal Reserve. The survey also found that tht total number of noncash payments increased at a 5.6% CAGR over the same period, driven largely by increases in the value of card payments and ACH payments. … [Read more...] about Noncash Payments Continue to Grow in the U.S.
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Cryptocurrency & ISO 2022 Compliance
When discussing cryptocurrency, the Achilles’ heel for financial institutions and the banking industry is regulatory compliance. ISO 20022 is an internationally recognized standard, developed and maintained by the International Organization for Standards (ISO), for financial industry messaging in payments, securities, trader services, cards, and foreign exchange domains. The … [Read more...] about Cryptocurrency & ISO 2022 Compliance
A U.S. CBDC: Disaster or an Idea Whose Time Has Come?
The notion of a digital dollar for the United States has been increasingly in the news in recent months. Research by the Federal Reserve into a Central Bank Digital Currency (CBDC) has been ongoing, and it’s easy to see why: between efforts from China to use digital currency in apps, to the increasing adoption rate of cryptocurrencies, and other faster payments technologies, … [Read more...] about A U.S. CBDC: Disaster or an Idea Whose Time Has Come?
A Focus on the Fed’s Digital Dollar Plans
The Fed’s announcement of a tentative look at the potential benefits of adopting a true digital U.S. dollar continue to have an outsize impact on fintech and the financial industry in general. Despite concerns, such a step would represent a truly seismic shift in the way the world does business, and the steps they take bear a lot of scrutiny in the months and years to … [Read more...] about A Focus on the Fed’s Digital Dollar Plans
Bridging the Gap to Faster Payments
The vision for a robust faster payments ecosystem in the United States is well-established. There are multiple contenders to bring it to life – from private offerings like The Clearing House (TCH) to the Federal Reserve’s continuing efforts into FedNow – but achieving true ubiquity can seem like an elusive target. How is that gap from vision to reality going to be … [Read more...] about Bridging the Gap to Faster Payments
Could the Crypto Market Protect Against a New Global Recession?
Note: Since this was published, the repo markets have not improved; the Fed supplied another $205 billion to the market on October 18. See James Bianco's LinkedIn post for more at: http://bit.ly/35MM8QJ The Federal Reserve has extended its recent interventions into the securities repurchase, or “repo” market, into November. It’s the first time that the Fed’s intervened in … [Read more...] about Could the Crypto Market Protect Against a New Global Recession?