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Developments in industry standards for cross-border payments

Author

Listed:
  • Knorr, Michael

    (Head of Payments and Liquidity Management, Wells Fargo Bank, NA, USA)

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.

Suggested Citation

  • Knorr, Michael, 2022. "Developments in industry standards for cross-border payments," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 16(3), pages 283-291, October.
    • Handle: RePEc:aza:jpss00:y:2022:v:16:i:3:p:283-291
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    More about this item

    Keywords

    ISO; ISO 20022; standards; ISO 8583; payments; ISO 4217; digital economy; LEI;
    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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