Developments in industry standards for cross-border payments

Michael Knorr
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Michael Knorr: Head of Payments and Liquidity Management, Wells Fargo Bank, NA, USA

Journal of Payments Strategy & Systems, 2022, vol. 16, issue 3, 283-291

Abstract: The Committee on Payments and Market Infrastructures has outlined 19 pillars for improving cross-border payments and payment standards, calling for common standards to reduce cost and allow more competition, innovation and transparency. This paper discusses the history and context of payment standards, their benefits, and future developments in the field.

Keywords: ISO; ISO 20022; standards; ISO 8583; payments; ISO 4217; digital economy; LEI (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:283-291

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