ECB publishes report on payment preferences as part of digital euro investigation phase

The European Central Bank (ECB) published the findings of its research on citizens’ payment habits and their attitudes towards digital payments in order to gain a deeper understanding of user preferences as part of the digital euro project. It found that citizens want universally accepted payment methods in online and physical stores across Europe, instant and contactless person-to-person payments, and a one-stop-solution that would incorporate all the current payment options into one system. Respondents, also sought guarantees against fraud and hacking, as well as secure and reliable payment authentication methods. Biometric methods of payment verification were widely supported by participants, while flexible and adjustable privacy settings were seen as desirable. [Read more]

Malaysia to explore both wholesale, retail CBDC

Bank Negara Malaysia laid out its central bank digital currency (CBDC) plans in its 2021 annual report. Beyond its current participation in the Bank for International Settlements (BIS) Innovation Hub’s Project Dunbar for cross border payments, it is also planning to explore a domestic wholesale CBDC later this year and a retail digital currency in 2024. [Read more]