Kiffmeister’s #Fintech Daily Digest (11/17/2021)

Five Observations on Nigeria’s Central Bank Digital Currency

The IMF published five key observations on Nigeria’s eNaira central bank digital currency (CBDC) that launched on October 25. The article noted that the IMF was involved in the rollout process, including by providing reviews of the product design. The article also said that the IMF is ready to collaborate with the authorities on data analysis, cross-country studies, sharing the eNaira experience with other countries, and discussing further evolution of the eNaira including its design, regulatory framework, and other aspects. [Read more]

Salvation Army rings the bells for contactless giving

Visa has initiated a pilot program with The Salvation Army and tiptap to make donations contactless at the charity’s iconic Red Kettles this holiday season. The pilot is rolling out across the East and West Coasts, enabling tap to give at nearly 2,000 Salvation Army Red Kettle stations in places like Washington, Southern California, San Francisco, and Sacramento. The US roll out comes three years after the Salvation Army first trialed the technology in Canada. [Read more]

National payment switch to launch in Nepal

Nepal’s central bank has reportedly given approval to Nepal Clearing House to operate the national payment switch. The payment gateway will integrate multiple banks, digital payment vendors into one system enabling them to transfer funds. In the first phase, all non-card transactions that are done through mobile banking, e-banking, e-wallet or QR code will be routed through the switch. In the third phase, all domestic electronic transactions will be routed through the switch. [Read more]

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