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  Singaporeans are moving away from paper-based payments and embracing real-time digital payments and mobile wallets, a shift that has accelerated with COVID-19, a new report by ACI Worldwide Real-Time Payments and GlobalData says. 2021 Prime-Time for Real Time, a global report tracking and analyzing real-time payments across 48 global markets, shows that real-time transactions volumes and values have jumped significantly over the past years in Singapore and are further expected to grow. In 2020, total real-time transactions reached 138.38 million, up a staggering 48% from 93.24 million in 2...

Financial infrastructure developer Banking Circle reveals that direct debit has facilitated 78 million payments, valued at £1.3 trillion.

Surveys and Reports Regulatory Developments United Kingdom: HM Treasury consultation on new special administration regime for payment institutions and electronic money institutions On 3 December 2020 HM Treasury (HMT) issued a consultation on proposed insolvency changes for payment institutions (PIs) and electronic money institutions (EMIs), including a bespoke special administration regime (SAR). HMT notes the shortcomings of the current insolvency regime and is making these proposals ahead of the conclusion of the Payments Landscape Review to protect consumers in the event of the insolvency...