
Money transfers
PayPal is no longer allowing users in Argentina to transfer money between their own accounts. According to the BBC, the online payment service said that from 9 October, Argentinian PayPal users will only be permitted to send and receive international payments. The move comes after Argentinians began using the service as a way of circumventing government restriction on the purchase of US dollars. Locals were setting up two accounts under different email addresses and transferring money between the two, exchanging local currency pesos for dollars in the process. The new rules mean that only one account per person can be registered within Argentina.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more