Payments Without Borders

Bech, Morten L.; Faruqui, Umar; Shirakami, Takeshi

Payments Without Borders

BIS Quarterly Review, March 2020

13 Pages Posted: 27 Mar 2020

See all articles by Morten L. Bech

Morten L. Bech

Bank for International Settlements (BIS) - Committee on Payments and Market Infrastructures

Umar Faruqui

Bank for International Settlements (BIS)

Takeshi Shirakami

Bank for International Settlements (BIS)

Date Written: March 1, 2020

Abstract

Cross-border and multicurrency payment systems have the potential to make cross-border payments faster, cheaper and more transparent. A simple taxonomy reviews the different designs and functionality of existing systems. Such systems remain rare, and most handle small volumes and values. However, a number of new projects will go live in the next few years.

JEL Classification: E42

Suggested Citation: Suggested Citation

Bech, Morten L. and Faruqui, Umar and Shirakami, Takeshi, Payments Without Borders (March 1, 2020). BIS Quarterly Review, March 2020, Available at SSRN: https://ssrn.com/abstract=3561190