Future-proofing the architecture of real-time payments
Security, interoperability and public-private collaboration
Real-time payment systems are reshaping how value moves across economies, accelerating domestic commerce and transforming cross-border trade. Yet their rapid growth introduces new risks and infrastructure challenges, according to a new report from OMFIF, produced in partnership with Mastercard.
The report examines how RTP ecosystems can scale safely and inclusively, highlighting three core imperatives that define long-term success: security, interoperability and digital adaptability.
A secure and future-ready RTP ecosystem depends on co-ordinated public–private collaboration. While regulators and central banks provide the frameworks and infrastructure foundations, the private sector brings innovation, real-time fraud intelligence and the technology required to future-proof payments systems.
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Key findings:
- Public-private collaboration is essential. Policy-makers and industry must co-design solutions to maintain security and resilience at scale.
- Clear liability frameworks must emerge. Fair responsibility for fraud and remediation must be shared across participants in RTP ecosystems.
- Domestic interoperability underpins cross-border links. Connecting RTP with other domestic rails enables national transformation and prepares markets for cross-border integration.
- Cross-border RTPs require joint solutions. Alignment on governance and compliance is just as important as technical connectivity.
- Multilateral frameworks enable scale. Regional interoperability models such as Project Nexus provide more sustainable pathways than standalone bilateral links.
- Digital wallets can expand reach and inclusion. When integrated responsibly, they can connect instant transfers and account-based payments.
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