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The G20 cross-border payments programme: A global effort

Author

Listed:
  • Lammer, Thomas

    (Deputy Head, CPMI Secretariat, Bank for International Settlements, Switzerland)

  • Rice, Tara

    (Head, CPMI Secretariat, Bank for International Settlements, Switzerland)

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.

Suggested Citation

  • Lammer, Thomas & Rice, Tara, 2022. "The G20 cross-border payments programme: A global effort," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 16(3), pages 207-218, October.
    • Handle: RePEc:aza:jpss00:y:2022:v:16:i:3:p:207-218
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    More about this item

    Keywords

    cross-border payments; payment systems; interlinking; CBDC; foreign exchange; central banks; ISO 20022;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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