Regulations spark friction in cross-border payments
As more payment infrastructures globally introduce real-time capabilities, challenges remain in the cross-border payments world.
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Category: Payments
Momentum builds behind gpi
More than $40 trillion was transferred over Swift’s global payments innovation (gpi) system during 2018, Swift has announced. The share of cross-border messaging using gpi rose from 15% at the start of 2018 to 56% by the end of the year. More than 3500 banks, accounting for 85% of Swift’s total payments traffic have committed to adopting gpi.
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Dragging payments into the 21st century
Last month, Australia launched its New Payments Platform (NPP), the result of the Strategic Review of Innovation conducted by the Payments System Board that was released in June 2012.
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