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Retail Payments

All articles tagged with #retail payments

business7 months ago•4 min saved

Retail Giants Explore Stablecoins and Crypto to Disrupt Banking

Stablecoins are emerging as a potential tool for retailers to reduce reliance on traditional credit card networks like Visa and Mastercard, which charge high fees. Major companies like Walmart, Amazon, and Shopify are exploring or accepting stablecoin payments, aiming to lower transaction costs and improve settlement times. However, challenges such as consumer adoption, the need for cryptocurrency wallets, and competition from existing pay-by-bank solutions remain. Legislation and industry moves suggest stablecoins could reshape retail payments, but widespread adoption faces hurdles.

via Bloomberg.com|

#business #cryptocurrency #mastercard

finance2 years ago•2 min saved

"Digital Currencies: 24 Central Banks Set to Implement by 2030, BIS Survey Finds"

A survey conducted by the Bank for International Settlements (BIS) revealed that around 24 central banks across emerging and advanced economies are expected to have digital currencies in circulation by 2030. The majority of these Central Bank Digital Currencies (CBDCs) will be in the retail space, with several central banks already running live digital retail currencies. Additionally, nine central banks are considering launching wholesale CBDCs to enhance cross-border payments. The survey also highlighted that the share of central banks engaged in CBDC development has risen to 93%, with 60% citing the acceleration of stablecoins and other cryptoassets as a driving factor.

via Reuters|

#cbdcs #central-banks #digital-currencies

cryptocurrency2 years ago•2 min saved

Central Banks Test CBDC Use Cases, XRP and Britcoin in the Spotlight.

The Bank for International Settlements (BIS) and the Bank of England have successfully developed 33 API functionalities to test over 30 CBDC use cases, including offline payments, peer-to-peer transfers, and retail payments, demonstrating the versatility of CBDCs. The experiment explored the potential of an API layer to support a retail CBDC, enabling secure payments across various use cases, and tested an array of payment options such as online, offline, in-store payments, and interactions with QR codes, mobile phones, smart cards, among others. The successful implementation of 33 API functionalities to support 30 retail CBDC cases has set a precedent for the potential of CBDC systems, fostering a significant contribution to global digital currency conversations.

via Crypto News Flash|

#apis #cbdcs #central-banks