Post by Bank for International Settlements – BIS

The BIS Committee on Payments and Market Infrastructures Financial Stability Board (FSB) 2025 monitoring survey results highlight significant progress in advancing cross-border payments, while identifying areas for further action. Expanded access to payment systems, extended operating hours and interoperable designs are laying the foundation for faster, cheaper and more inclusive payments globally. The continued adoption of fast payment systems (FPS), particularly through interlinking initiatives in regions like Asia-Pacific, is transforming cross-border retail payments. Extending real-time gross settlement system operating hours can broaden the global settlement window, while expanding access for non-bank payment service providers and foreign banks fosters competition and innovation. Other key enablers include harmonising application programming interfaces, scaling FPS links and aligning with ISO 20022 harmonisation requirements. An important milestone in this regard is the removal of unstructured postal addresses. From November 2026, where a postal address is provided, the data must be in either a fully structured or hybrid (ie partly structured) format. Despite these advancements, challenges persist, particularly in emerging market and developing economies. Targeted support, international cooperation and regulatory harmonisation remain critical to addressing disparities and ensuring inclusive progress. Voluntary jurisdictional action plans can provide a clear path forward, mobilising public and private stakeholders to strengthen domestic and regional infrastructures. The groundwork has been laid, but achieving the objectives of the G20 roadmap for cross-border payments will require continued collaboration, innovation and a focus on scalability and inclusivity. Read the full analysis here: https://bit.ly/4fkezvP #CrossBorderPayments #G20Roadmap #PaymentsInnovation #FinancialInclusion #CPMI #ISO20022 #FastPayments #InstantPayments