The application of non-Latin language data in traditional cross-border payments: A discussion

Yi Zhang
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Yi Zhang: Bank of China, China

Journal of Payments Strategy & Systems, 2024, vol. 18, issue 3, 276-281

Abstract: During the rapid development of globalisation observed over the last few decades, the English language has emerged as the default language for the communication of cross-border payments. Concurrently, the Latinisation of communication has resolved most of the problems related to the use of non-Latin languages. However, with the G20 cross-border payment roadmap promoting connectivity with local payment systems, this paper suggests that supporting the use of non- Latin language data in certain scenarios and transaction channels could improve the efficiency of cross-border payments and help enhance financial inclusion. This paper examines the use of language data in cross-border payments, reflects on how cross-border payments might support non-Latin language data, and makes relevant suggestions.

Keywords: cross-border payment; non-Latin language data (search for similar items in EconPapers)
JEL-codes: E5 G2 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:aza:jpss00:y:2024:v:18:i:3:p:276-281

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