OnDemand Video Module

Introduction

Real-time retail payments (RTRP), or “instant payments” systems developed in recent years, primarily enable faster payments within a single country, while payment processing across national borders largely continues to be a patchwork of agreements.

The session is designed to provide insights on developments in cross-border payments. It examines the latest initiatives to link multi-country fast payments systems, as well as ambitious efforts to ultimately progress towards creating a global system through regional payment hubs.

Topics Covered

This session will focus on the handful of implementations that are launching to integrate RTRP systems across national borders, highlight design choices in these multi-country payment systems integrations, and note other global efforts to address remaining challenges in cross-border payments. Specific systems and initiatives that will be covered, include:

• SCT Inst: Europe’s RTRP System
• SADC TCIB: South African Development Community’s RTRP System
• Buna: Real-time payments in Arab world and beyond
• BIS Innovation Hub’s Nexus Project