The G20 cross-border payments programme: A global effort

Thomas Lammer and Tara Rice
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Thomas Lammer: Deputy Head, CPMI Secretariat, Bank for International Settlements, Switzerland
Tara Rice: Head, CPMI Secretariat, Bank for International Settlements, Switzerland

Journal of Payments Strategy & Systems, 2022, vol. 16, issue 3, 207-218

Abstract: The G20 cross-border payments programme is a globally coordinated endeavour that aims to address long-standing challenges in the cross-border payments market. This paper reviews those challenges and discusses the 19 ‘building blocks' that make up the programme. As the paper describes, each building block will provide notable benefits for cross-border payments; however, due to their interdependencies, the most significant enhancements will only be realised if public authorities and private actors across the globe work together to implement improvements in a coordinated manner. This paper reviews the programme's achievements to date and discusses key findings from related projects that provide useful insights for the programme going forward.

Keywords: cross-border payments; payment systems; interlinking; CBDC; foreign exchange; central banks; ISO 20022 (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2022:v:16:i:3:p:207-218

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