Payment System

BSP

2026-09-07 10:02:58

Philippine Central Bank Proposes 12-Month OPS Registration Moratorium, Tighter VASP Rules

The Bangko Sentral ng Pilipinas (BSP) has issued a draft circular proposing a 12-month suspension of new registrations for Operators of Payment Systems (OPS), aiming to review the classification and licensing framework. During the moratorium, pending applications will be assessed but not approved or denied. The draft also tightens rules for Virtual Asset Service Providers (VASPs), requiring supervised institutions to deal directly with licensed VASPs and apply enhanced due diligence. The measures apply to virtual asset entities authorized by BSP or other regulators. Public comments are open; if approved, the rules take effect 15 days after publication.

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Philippines

2026-09-07 10:05:14

Philippines Central Bank Proposes 12-Month Freeze on New Payment System Registrations, Tightens Crypto Rules

Bangko Sentral ng Pilipinas (BSP) aims to suspend new registration of Payment System Operators (OPS) for 12 months to review classification and licensing frameworks. Pending applications will be evaluated but not approved. The draft also mandates stricter controls for Merchant Acquirers serving Virtual Asset Service Providers (VASPs), including enhanced due diligence and risk-based measures. If passed, the rule takes effect 15 days after publication; BSP is now soliciting public comments.

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PBOC

2026-09-04 10:20:34

China's Central Bank Q2 Payment Data: Credit Card Count Shrinks, NPL Ratios Diverge

The People's Bank of China released Q2 2026 payment system data, showing 10.267 billion bank cards nationwide, of which 677 million credit and debit-integrated cards, down nearly 20 million from the start of the year, with over 100,000 cards exiting daily. Listed bank mid-year reports reveal universal declines in credit card outstanding balances at the six largest state-owned banks, with ICBC's loan balance dropping 14.39%. Non-performing loan ratios rose sharply at ICBC to 5.37%, Bank of Communications to 3.8%, Minsheng Bank to 4.22%, and Industrial Bank to 3.79%. In August 2026, credit card NPL transfers totaled 12.2 billion yuan.

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India

2026-09-03 12:45:35

India Halts Alipay+ Integration Over Security and Data Concerns

India has suspended the integration of Alipay+, the cross-border payment solution under Ant Group's Alipay, citing national security and data sovereignty concerns. The move highlights the complex interplay of tech security, data sovereignty, and geopolitical tensions.

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PBOC

2026-09-03 04:30:58

China's Payment System in Q2 2025: 15.2 Billion Bank Accounts, 58.4 Billion Mobile Payments

The People's Bank of China's Payment and Settlement Department released the Q2 2025 payment system operation data. By the end of Q2, China had 15.238 billion bank accounts, 10.068 billion bank cards, and 775,700 ATMs. Non-cash payment transactions reached 149.789 billion, totaling 1365.36 trillion yuan. Bank-processed electronic payments included 18.217 billion online payments (707.85 trillion yuan) and 58.386 billion mobile payments (136.06 trillion yuan). Non-bank payment institutions handled 333.845 billion online payments worth 82.11 trillion yuan. The payment system processed 392.751 billion transactions totaling 3084.83 trillion yuan. Specific breakdowns include the PBOC clearing center (5.543 billion transactions, 2295.71 trillion yuan), UnionPay interbank system (97.641 billion, 66.71 trillion yuan), NetsUnion (283.18 billion, 145.58 trillion yuan), and CIPS (2.1212 million, 45.94 trillion yuan).

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Blockchain As

2026-08-13 17:47:12

Blockchain Association backs Custodia at Supreme Court, says Fed could choke off crypto firms through payment access

The Blockchain Association has filed an amicus brief urging the U.S. Supreme Court to hear Custodia Bank’s dispute with the Federal Reserve, arguing that the central bank should not hold sweeping discretion to deny payment system access to state-chartered banks that otherwise qualify. The group said a lower court ruling in the Fed’s favor creates a quiet path for federal regulators to push lawful digital asset businesses out of the banking system. The case centers on Custodia’s long-running effort to obtain a Federal Reserve master account, which would let the Wyoming-based bank settle payments directly with the central bank. Custodia offers institutional services tied to digital asset custody, payments and settlement infrastructure, and dollar-backed stablecoin-related products. An appeals panel ruled in October that eligibility alone did not guarantee access to an account, and the bank later asked the full Tenth Circuit to rehear the case in December. In its filing, the Blockchain Association said the dispute carries wider implications for the U.S. dual banking framework, under which both state and federal authorities can charter banks. The brief also described the case as the latest phase of what critics call Operation Choke Point 2.0 and asked the justices to clarify how much control the Fed should have over access to the U.S. payments system.

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Kraken

2026-07-24 08:25:16

US Lawmaker Questions Fed Approval of Kraken Account, Calls Risk 'Critical'

Rep. Maxine Waters asked the Kansas City Fed to explain the terms, access scope, and safeguards behind Kraken Financial’s approved Fed account, with a written response requested by April 10, 2026.

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XRP

2026-07-23 05:30:14

Bank of America Discusses Adding XRP to Payment Systems, Hybrid Model Gains Ground

Bank of America is exploring integrating XRP into its payment systems, but a report notes no full adoption yet. In the hybrid model, SWIFT retains its core role with RippleNet as a complementary layer; ODL application remains limited.

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