South Korea Dials Back CBDC Testing in Favor of Stablecoins
After three months of testing, South Korea’s central bank has postponed further development of its central bank digital currency (CBDC), as both the government and local banks increase their support for stablecoins. The Bank of Korea has suspended the second round of CBDC trials, originally scheduled for later this year. Meanwhile, eight South Korean banks […]
Visa and Mastercard Interchange Fees Face UK Challenge
After lawsuits by hundreds of merchants, London’s Competition Appeal Tribunal unanimously ruled that the interchange fees charged by Visa and Mastercard are a violation of Europe’s competition law. According to Reuters, the legal team representing the merchants called the ruling a major victory for businesses that have long been burdened by what they argue are […]
Don’t Just React to What’s Next in Payments—Anticipate It
For years, many businesses proclaimed they would never transition their payments to SaaS. Even as everything else moved to the cloud, financial professionals remained adamant that payment services and data would stay in-house. The data was considered highly sensitive, and few were willing to risk storing it outside their walls. But the benefits of Payments-as-a-Service […]