Sopnendu Mohanty, Chief FinTech Officer, Monetary Authority of Singapore<\/cite><\/blockquote>\n\n\n\nThe central banks tapped industry leaders, including Amazon, Grab, and Fazz for a use case involving escrow arrangements for online retail payments. This would allow payment to be released to the merchant only when the customer receives the items purchased, thus providing greater assurance to both parties. <\/p>\n\n\n\n
Meanwhile, DBS, NETS, and UOB will help with trials, including PBM-based cashback and other incentives to improve consumer experiences while reducing frictions faced by merchants, such as manual reconciliation of sales proceeds and time needed to onboard new sales campaigns. <\/p>\n","protected":false},"excerpt":{"rendered":"
The Monetary Authority of Singapore has released a whitepaper in collaboration with the IMF and the central banks of Italy and South Korea. The proposal seeks common conditions for retail payments with digital money on a distributed ledger.<\/p>\n","protected":false},"author":62,"featured_media":582770,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[17,947,2,27],"tags":[693,7249,2011,108767,4875],"_links":{"self":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582768"}],"collection":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/comments?post=582768"}],"version-history":[{"count":2,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582768\/revisions"}],"predecessor-version":[{"id":582771,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/posts\/582768\/revisions\/582771"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media\/582770"}],"wp:attachment":[{"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/media?parent=582768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/categories?post=582768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.ethereumworldnews.com\/wp-json\/wp\/v2\/tags?post=582768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}