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Today In Digital-First Banking: China’s Central Bank Tells Ant Group To Concentrate On Payments; China’s Digital Yuan Pilot Wraps Up

PYMNTS

China's Central Bank Tells Ant Group To Concentrate On Payments Business. China's Digital Yuan Trial Sees Spending For Retail, Ridesharing And More. Plus, a Brexit deal has been reached between the United Kingdom and the European Union. There weren’t many more details other than that.

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China's Tests Of Digital Yuan Have Processed 4 Million Transactions

PYMNTS

In August, PYMNTS reported that China's testing of the digital yuan was focused on retail, specifically on small transactions and excluding much larger ones. There were rumors initially that the digital currency electronic payment (DCEP) had been used for a real estate transaction, but those rumors were quelled.

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US Treasury Tells Banks To Treat Hemp Businesses Like Any Other

PYMNTS

The reminder is intended for banks with clients that include marijuana retailers or individuals that grow, process, or manufacture pot. Hemp, a strain of cannabis with lower concentrations of THC, the substance that makes users high, was legalized in 2018. Hemp Inc.,

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Luxury Goods (And Chinese Consumer Spending) A Looming Trade War Casualty?

PYMNTS

Oppenheimer wrote, “Recent shifts in global currencies could impact the buying power of Chinese tourists in the U.S.”. Tax cuts and incitements (last month regulators advocated slashing interest rates for small and mid-sized firms) mean that spending activity is concentrated within China’s borders. The concept is a simple one.

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OCC Defines Top Threats To Banks This Season

PYMNTS

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. Noreika, acting Comptroller of the Currency, in a statement. Today, the federal banking system remains healthy,” he continued. “As

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Data Enablers: Spreadshirt, Data-Driven T-Shirts

PYMNTS

The ability to print on-demand apparel and accessories — more than 220 different products — through the platform helps communities and businesses buy, sell, create and share their ideas in more than 12 languages and 19 markets and currencies. “We Many global entities become very consumed by scaling up in western EU or the U.S.,

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A Tale Of Two Payments Regions: UK And Germany

PYMNTS

” He added that in 2016, roughly a quarter of European banking revenue (€128B) will come from retail payments. since London, which is where much of the usage is concentrated , has a high merchant acceptance, and the transit authority now enables contactless payments across all of its endpoints. 52 percent; Germany, 15 percent.