Included in this issue: BCBS reports on implementation of Basel III; Cash machine visits becoming monthly occurrence; Top executives sign pledge to look at governance issues and more...

REGULATORY

BCBS reports on implementation of Basel III

The Basel Committee on Banking Supervision has published a report to G20 leaders on the implementation of the Basel III regulatory reforms. The BCBS' findings state that the Basel III capital and liquidity standards have generally been transposed within the prescribed time frame and that domestic standards are generally consistent with the Basel III standards.

BCBS, August 2016

Cashpoint merger referred for in-depth investigation

The Competition and Markets Authority (CMA) have referred the merger between Diebold and Wincor for an in-depth investigation following Diebold's failure to offer proposals to address the CMA's competition concerns by 26 August 2016. A decision will be taken by an independent panel of members working with a CMA case team. The deadline for the final report is 13 February 2017.

Competition and Markets Authority, 26 August 2016

UK

Cash machine visits becoming monthly occurrence

A survey has found that trips to the cash machine are becoming monthly rather than daily or weekly for one in five people. Reliance on cards and contactless payments continues to take over; in the UK nearly one in ten people no longer carry loose change on a regular basis, according to research carried out by Nationwide.

The Telegraph, 29 August 2016

WORLDWIDE

Top executives sign pledge to look at governance issues

Top level executives from blockchain companies have signed a letter calling for focus on the issues around blockchain governance. The "Muskoka Group" of 14 executives came together after a two-day governance workshop and published the letter containing 10 recommendations including encouraging collaboration to develop blockchain strategies and initiatives such as the funding of a "Blockchain Hub".

CoinDesk, 29 August 2016

Real risk of bitcoin hacks and losses

The risk of bitcoin hacks is very real according to one study which suggests that a third of bitcoin exchanges have been hacked. New data disclosed to Reuters also indicates nearly half of bitcoin trading platforms have closed in the half dozen years since they first came into existence. Experts have also said that the security issues facing bitcoin users do not appear to be relenting.

Fortune, 29 August 2016

Olympic payment ring from Visa to go on general sale

Visa payment rings first used by Olympic athletes at Rio are now going to be available for the general public to order. The waterproof rings feature Visa token technology and have an embedded NFC-enabled antenna. The commercial roll out is driven solely by NFCRing with no direct involvement from Visa.

Finextra, 24 August 2016

Samsung Pay: one year anniversary and nearly 100 million transactions

Samsung Pay has celebrated its one year anniversary recording nearly 100 million unique transactions in seven countries to date. Presently, more than 440 bank issuers support the service.

Samsung, 23 August 2016