FAST PAYMENTS MOVE to
MULTI-COUNTRY SYSTEMS

OnDemand Video Webinar

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. These agreements are mostly bilateral, and settlement timing is slow and expensive compared to domestic payments. While innovative providers seek workarounds to stitch together a fast payment “network,” many still rely on the same underlying patchwork of systems. Cross-border payment systems across countries in specific regions, such as SEPA in Europe and SADC in Southern Africa, serve as examples of successful integrations across different national retail payments systems.

 

However, regulators and market participants are increasingly focused on evaluating ways that payment systems foundations, including clearing and settlement arrangements, can be enhanced, or reimagined to address existing cross-border payments challenges. Efforts are already underway to enable new multi-country fast payment integrations.

Topics Covered

This webinar 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

Learning Objectives

The webinar 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.

Leaders

  • Elizabeth McQuerry

    Partner in Charge of Glenbrook’s Global Payments Practice, Elizabeth combines her 15 years of experience and deep insight into international payments to further client goals in the areas of cross-border remittances, domestic P2P, global payouts, government collections and disbursements.

  • Joanna Wisniecka

    Joanna provides Glenbrook’s clients with a broad perspective drawn from her experience in regulatory oversight, payments infrastructure management, and product roadmap development.