News digest 26.09.2022
Australian regulator considers crypto u-turn and seeks gambling industry input on a draft regulation
Australia’s Northern Territory Racing Commission (NTRC) is consulting its gambling licensees over a draft proposal to allow direct crypto wagering. Australia is a highly lucrative market for many operators, and some argue that a regulated cryptocurrency framework will only increase its importance.
ECB selects external companies for joint prototyping of user interfaces for a digital euro
The European Central Bank (ECB) will collaborate with CaixaBank, Worldline, EPI, Nexi, and Amazon to develop potential user interfaces for the digital euro. The aim of this prototyping exercise is to test how well the technology behind a digital euro integrates with prototypes developed by companies. Simulated transactions will be initiated using the front-end prototypes developed by the five companies and processed through the Eurosystem’s interface and back-end infrastructure.
OneSpan's Virtual Room will offer face-to-face transactions
OneSpan, the digital agreements security company, announced the general availability of its secure Virtual Room cloud service which enables organizations to verify the identities of participants; interact with signers remotely; simultaneously review documents and address questions; capture legally binding e-signatures in real-time; record virtual sessions to reinforce the electronic evidence captured in the audit trails.
Revolut launches account for freelancers
Revolut has introduced a dedicated income, payment and expense management account for freelancers, sole traders, contractors, and the self-employed. Revolut Pro is initially launching in the UK and seven other European countries, providing a free account with no monthly fees, and no deposit or balance requirements. The account can be created in under two minutes within Revolut’s app and offers a one percent cashback debit card. It also enables users to send transfers or instant payments to external banks and other Revolut accounts.
Amazon introduces layaway payment option
This newly introduced payment option gives customers the opportunity to hold items and complete the payment in five installments, either by credit or debit card, without having to go through a credit check or pay any associated fees. To reserve the items they want to purchase, customers must make a 20% initial payment of the total purchase cost, the remaining balance having to be paid off in four monthly installments, after which they can come into possession of said items.
Newgen ships low code trade finance platform for banks
Newgen Software, a leading global provider of digital transformation products, launched the world’s first low code Trade Finance platform at the recent customer meet in Mumbai, India. Newgen’s trade finance platform helps banks go paperless and streamline their end-to-end trade processes while ensuring compliance with domestic and international regulations.