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Top News In Payments: Central Bank Coin Currency At Least A Decade Away; US Economy Could Lose $10B To Chinese Travel Ban

PYMNTS Top News in Payments

In today’s top payments news, former Bank of France Governor Christian Noyer said a centralized, global eCurrency is still at least a decade away, the U.S. economy could lose $10.3 billion to the Chinese travel ban and Visa plans the biggest interchange fee revamp in a decade.

Former BoF Gov: Central Bank Coin Currency At Least A Decade Away

A centralized, global eCurrency is still at least a decade away, former Bank of France Governor Christian Noyer said, due to hesitation from the top worldwide central banks. Privacy and monetary policy issues are causing regulators to tread carefully in launching electronic currencies.

US Economy Could Lose $10B To Chinese Travel Ban

The travel ban triggered by the coronavirus outbreak in China could cost the U.S. economy $10.3 billion in lost tourism dollars. Areas in California and New York are expected to be affected the most by the ban.

Report: Visa Eyes Biggest Interchange Fee Revamp In A Decade

Visa is proposing to change its swipe fees in the largest structural change in the decade. The proposed change would base swipe fees on the setting or merchant category, and is meant to increase payments made via card.

Macy’s to Shut 125 Stores, Shutter Tech Offices

Macy’s announced it will be closing 125 department stores through the next three years, 20 percent of its locations, in an attempt to restructure and revitalize. The company will also be closing its tech offices in San Francisco.

Breaking Batch (Payments): BNP Paribas On APIs And Making B2B Payments Faster

In this month’s B2B API Tracker, BNP Paribas VP of Innovation and Product Management for Trade and Treasury Solutions Charlotte Hausemer explains how APIs (application programming interfaces) are reshaping corporate spending with precise liquidity management and real-time payments tracking.

CyberSource: Helping Merchants Prepare For eCommerce ‘Mini Peaks’

The traditional “peak” retail season is giving way to “mini peaks,” spurred by eCommerce promotional events. Michele Herron, senior vice president of strategy, marketing and small business at Visa’s CyberSource, lays out the challenges of bringing sales into the digital pipeline while defending against fraudsters — and shares a roadmap on how to get there.

eCommerce Search Merger Aims To Address Amazon Pressure Cooker

This week’s merger between eCommerce site search players Searchspring and Nextopia aims to help online retailers stand out against Amazon. The newly created company will aim to elevate consumer experience and conversion rates, and help eCommerce brands compete with the convenience of digital marketplaces like Amazon.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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