Commonwealth Bank has placed a bet on the rising popularity of paying directly with bank accounts, investing in fintech Paypa Plane ahead of the mid-year switching-on of a new payment capability known as PayTo.
China has released the new digital yuan app for iOS and Android on domestic app stores. The app is available to users in 12 cities across China and will be available to foreign visitors at the Winter Olympics – but its audience will be limited. Tencent-owned WeChat announced it would begin rolling out the e-CNY as a payment option on its platform, potentially introducing the digital currency to over 1.2 billion users.
Russian central bank proposes a ban on cryptocurrency use. Regulator warns of risks to financial stability. Analysts say the wider impact is negligible for now. Ban on cryptocurrency exchanges also proposed
It allows home buyers and sellers to input their details into a central hub, accessible to all relevant parties in a property transaction, including conveyancers, solicitors, and mortgage intermediaries.