Next steps for cross-border payments: Aligning ambition with action

Abstract

Enhancing cross-border payment arrangements is a shared global goal. Commitment, coordination and accountability will be critical to success. The Roadmap's endorsement by the G20 Leaders underlines its strong political backing from the largest financial centres. The private sector also has an important role to play in making the improvements in cross-border payments to achieve the ambitious targets of the Roadmap. Indeed, the success of the Roadmap will depend heavily on the commitment of public authorities and the private sector, working together to implement necessary improvements in existing payment infrastructure and developing new systems.