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With the world's second largest cryptoexchange (FTX) going bust overnight, that too due to alleged fraud, I wonder how many cryptoexchanges will qualify to be in the said "cryptoexchange whitelist".

If you scratch the surface, you might find that there are deep-rooted anxieties undergirding the "not invented here" syndrome and driving the "I'll do on my own" behavior.

We've found the "co-visioning" approach useful in rebutting that objection.

In my company, we target our customers' "cool digital tools" at banks, FIs, insurers and other verticals and, based on this experience, I can say that BFSI has a way higher adoption of such tools than any other industry. Objections will always be there, I've observed that it's the quality of rebuttal from vendors that matters more in the final analysis.

During GFC, UK regulators mooted SCV for UK Banks in order to expedite the insurance payouts of failed banks. It got canned due to prohibitively high costs relative to the low frequency of potential use.

Will it be any different now?

Keen to know how Klarna repayments can get late in the first instance.

I thought all BNPL repayments must be made via autodebits to bank account (except in USA) and that, if account does not have enough balance to cover the BNPL's autodebit, it'd be tantamount to bounced cheque, which, AFAIK, is a crime in most jurisdictions. 

TY for clarifying...

Agreed. I did think of debit card / CBS but "KYC risk checks" and "initiate the billing process towards the cardholder" are not a thing for debit card, so I concluded OP must be about credit card.

TY for the clarification.

I get that purchase of CBDC can only be made from a commercial bank account. But I was thinking more in terms of "earning" CBDC via salary and "AirDrop" that can very well happen entirely within FedAccount if employer and others are also allowed to have FedAccounts. 

Great post!

One of the benefits of CBDC is sovereign guarantee of entire balance in the CBDC account with central bank (aka FedAccount as it's dubbed in USA). IOW, balance in commercial bank account is insured only to a maximum of ₹500,000 in India (and $250K in USA) whereas that cap does not apply to FedAccount balance. Any idea why your otherwise comprehensive post has missed this benefit of CBDC?

On a side note, are you sure of "people still need to load money into their e-Rupee wallet from either a bank-linked account or a UPI app"? Why can't Employer transfer salary from its FedNow account directly to Employee's FedNow account, thereby obviating the need to involve a commercial bank account?

I keep hearing about Wholesale v. Retail CBDC. Maybe the answer to both my questions lies in that distinction but, since I didn't see mention of it in your post, I thought I'll ask you just to be sure.

Likewise @David Smith. Thank you!

Coming back to the original topic. Retailers will whine forever about high credit card MDR. But, when consumers pay with debit card and other MOPs on which their processing costs are way lower, retailers never given them any discount. 

So, IMO, retailers are more responsible than Banks for people going hungry in your village. Regardless of our divergent views on Capitalism, I hope I can enlist your support for my call to CAT to throw out the claim from retailers and fine Harcus Parker for filing a frivolous lawsuit.