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Payments without borders

Author

Listed:
  • Morten Linnemann Bech
  • Umar Faruqui
  • Takeshi Shirakami

Abstract

Cross-border and multicurrency payment systems have the potential to make cross-border payments faster, cheaper and more transparent. A simple taxonomy reviews the different designs and functionality of existing systems. Such systems remain rare, and most handle small volumes and values. However, a number of new projects will go live in the next few years.

Suggested Citation

  • Morten Linnemann Bech & Umar Faruqui & Takeshi Shirakami, 2020. "Payments without borders," BIS Quarterly Review, Bank for International Settlements, March.
    • Handle: RePEc:bis:bisqtr:2003h
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    References listed on IDEAS

    as
    1. Tara Rice & Goetz von Peter & Codruta Boar, 2020. "On the global retreat of correspondent banks," BIS Quarterly Review, Bank for International Settlements, March.
    2. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    3. Morten Linnemann Bech & Jenny Hancock, 2020. "Innovations in payments," BIS Quarterly Review, Bank for International Settlements, March.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Raphael Auer & Codruta Boar & Giulio Cornelli & Jon Frost & Henry Holden & Andreas Wehrli, 2021. "CBDCs beyond borders: results from a survey of central banks," BIS Papers, Bank for International Settlements, number 116.
    2. Hannes Warnecke-Berger, 2022. "The financialization of remittances and the individualization of development: A new power geometry of global development," Environment and Planning A, , vol. 54(4), pages 702-721, June.
    3. Morten Linnemann Bech & Jenny Hancock, 2020. "Innovations in payments," BIS Quarterly Review, Bank for International Settlements, March.
    4. Raphael Auer & Philipp Haene & Henry Holden, 2021. "Multi-CBDC arrangements and the future of cross-border payments," BIS Papers, Bank for International Settlements, number 115.
    5. Raphael Auer & Rainer Boehme, 2020. "The technology of retail central bank digital currency," BIS Quarterly Review, Bank for International Settlements, March.
    6. Carletti, Elena & Claessens, Stijn & Fatás, Antonio & Vives, Xavier (ed.), 2020. "Barcelona Report 2 - The Bank Business Model in the Post-Covid-19 World," Vox eBooks, Centre for Economic Policy Research, number p329.
    7. Agustín Carstens, 2020. "Shaping the future of payments," BIS Quarterly Review, Bank for International Settlements, March.
    8. Tara Rice & Goetz von Peter & Codruta Boar, 2020. "On the global retreat of correspondent banks," BIS Quarterly Review, Bank for International Settlements, March.
    9. Dassios, Angelos & Zhang, Junyi, 2020. "Parisian time of reflected Brownian motion with drift on rays and its application in banking," LSE Research Online Documents on Economics 107495, London School of Economics and Political Science, LSE Library.
    10. Angelos Dassios & Junyi Zhang, 2020. "Parisian Time of Reflected Brownian Motion with Drift on Rays and Its Application in Banking," Risks, MDPI, vol. 8(4), pages 1-14, December.
    11. Li, Fangmin & Yang, Tianle & Du, Min & Huang, Miao, 2023. "The development fit index of digital currency electronic payment between China and the one belt one road countries," Research in International Business and Finance, Elsevier, vol. 64(C).

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    More about this item

    JEL classification:

    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System

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