G20 roadmap for enhancing cross-border payments: priorities for the next phase
In 2020, the G20 made cross-border payments an area of global focus and it is now moving towards practical initiatives to prioritise future work. The aims of interlinking payments infrastructure internationally, improving transaction settlement speed and reducing ‘friction’ in the form of foreign exchange charges has catalysed thinking on the future of payments.
The Committee on Payments and Market Infrastructure at the Bank for International Settlements, along with the Financial Stability Board and partnering bodies, has laid out 19 building blocks for this project. The priority themes in the next phase include: payments system interoperability and extension; legal, regulatory and supervisory frameworks; and cross-border data exchange and messaging standards.
Thomas Lammer, deputy head of secretariat, Committee on Payments and Market Infrastructures at the BIS, Nasreen Quibria, senior director, head of cross-border policy engagement at Visa, and Saskia Devolder, strategic programme director, cross-border payments at Swift, join OMFIF to explore what this latest G20 roadmap update means for stakeholders. They discuss how to strengthen engagement and partnership between the public and private sectors to ensure progress is being made and to achieve the biggest impact by the 2027 target.
10:00-11:00 (New York)
Strategic Programme Director
Deputy Head of Secretariat
Committee on Payments and Market Infrastructures
Head of Cross-border Policy Engagement
This discussion is part of the OMFIF Digital Monetary Institute. The OMFIF Digital Monetary Institute is a high-level forum which convenes key policy-makers, technology experts, investors and regulators to explore the challenges, opportunities and implications of digital finance in the 2020s. See more information on OMFIF’s DMI here. Please contact email@example.com directly for membership details or register your interest below and we’ll be in touch.