Payments Without Borders

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

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

Morten L. Bech (Contact Author)

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

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland
41612808923 (Phone)

Umar Faruqui

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

Takeshi Shirakami

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
Basel, Basel-Stadt 4002
Switzerland

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