International Payments Market Trends Overview

Warning over clearing-contagion risks

At the recent Sibos conference in Dubai, delegates raised concerns over the risks associated with the collapse of a major clearing house.  The general sentiment expressed was that international regulators had yet to get to grips with the potential domino effect should a clearing house fail.  Catalyst consultant, Christian Lee, summed up the level of concern when he said “There is no doubt that clearing houses are now too big to fail. The key issue for policymakers is to avoid moral hazard: governments and central banks do not want to be on the hook in the event of a failure.”

China opens up international e-payments

The Chinese authorities have given permission for seventeen e-payment services to transact online international payments.  The seventeen which include UnionPay, Tanpay and Alipay all have varying levels of permissions and restrictions within a trial which, if successful, is expected to open up the Chinese market still further.  According to a report from Alipay the demand for online overseas purchases doubled in China in 2012 with items such as travel coming high on the list.

Accelerated Payments to Asia

Meanwhile Bank of America Merrill Lynch has launched a service which is designed to “improve the speed and efficiency with which banks and corporations make high value U.S. dollar payments to Asian markets.”  The aim of the “accelerated payments to Asia” scheme is to circumvent any delays currently caused by large scale payments crossing time zones for those making payments both to and from the Asian marketplace.

If you want to learn more about the latest trends in International PaymentsInternational Securities Settlement & Custodial Services,  AML or Risk Management in Electronic Banking you can attend one of Eureka Financial courses.


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