Cross-Border Payments
April 24, 2025
The joint consultative forum will provide a key exchange point and clearing-house between the global standard-setters who are driving and implementing the G20’s ambitious Roadmap on Enhancing Cross Border Payments, and key representative associations with global industry membership.
The forum will be led by and comprise representatives of financial institutions, payment service providers and technology firms, with the potential for official sector bodies to act as observers. While membership and leadership will be drawn from across the associations globally, the Payments Association Asia and the IIF will provide the joint Secretariat for this new forum.
Kicking off early next year, the forum will meet regularly to develop and provide industry feedback to the standard-setters and enable them to update on progress in their plans. As such, the forum will provide a key point of recruitment to this ambitious agenda. The forum will also provide a venue for policy or self-regulatory recommendations to be discussed.
“IIF and Payments Association have come together to lead this collaborative forum for the private sector, and respond to the objectives of G20, to lower the cost and enhance the speed, reliability and transparency of cross-border payments. For this initiative, Payments Association Asia is joining forces with the global Payments Association network to keep the global payments community involved,“ said John Ryan, Director, The Payments Association Asia.
“Payments Association and IIF believe that the private sector is critical to enhancing cross-border payments. The IIF-Payments Association Joint Consultative Forum on Cross-Border Payments will bring together our members on a regular basis to discuss issues of mutual interest arising from the Roadmap, liaise with the Financial Services Board, the Committee on Payments and Market Infrastructures and other standard-setting bodies,” said Brad Carr, Managing Director, Digital Finance, Institute of International Finance.
The G20 Leaders’ Summit in November 2020 agreed that lowering the cost and improving the speed, reliability, and transparency of cross-border payments is a key priority. In doing so G20 Leaders endorsed a detailed Roadmap on Enhancing Cross Border Payments, with actions out to 2023 required to deliver an ambitious change agenda.
The roadmap calls out collaboration between the official sector and private sector as essential, and plans for a number of formal consultation windows over the coming years as new standards are developed and rules are harmonised.
This roadmap was developed by the Financial Services Board (FSB) building on work done by the Committee for Payments and Market Infrastructures (CPMI) with industry input. Besides the FSB and CPMI, official sector organisations such as the International Monetary Fund and Bank for International Settlements are working to deliver this roadmap.
The Payments Association
St Clement’s House
27 Clements Lane
London EC4N 7AE
© Copyright 2024 The Payments Association. All Rights Reserved. The Payments Association is the trading name of Emerging Payments Ventures Limited.
Emerging Ventures Limited t/a The Payments Association; Registered in England and Wales, Company Number 06672728; VAT no. 938829859; Registered office address St. Clement’s House, 27 Clements Lane, London, England, EC4N 7AE.
Log in to access complimentary passes or discounts and access exclusive content as part of your membership. An auto-login link will be sent directly to your email.
We use an auto-login link to ensure optimum security for your members hub. Simply enter your professional work e-mail address into the input area and you’ll receive a link to directly access your account.
Instead of using passwords, we e-mail you a link to log in to the site. This allows us to automatically verify you and apply member benefits based on your e-mail domain name.
Please click the button below which relates to the issue you’re having.
Sometimes our e-mails end up in spam. Make sure to check your spam folder for e-mails from The Payments Association
Most modern e-mail clients now separate e-mails into different tabs. For example, Outlook has an “Other” tab, and Gmail has tabs for different types of e-mails, such as promotional.
For security reasons the link will expire after 60 minutes. Try submitting the login form again and wait a few seconds for the e-mail to arrive.
The link will only work one time – once it’s been clicked, the link won’t log you in again. Instead, you’ll need to go back to the login screen and generate a new link.
Make sure you’re clicking the link on the most recent e-mail that’s been sent to you. We recommend deleting the e-mail once you’ve clicked the link.
Some security systems will automatically click on links in e-mails to check for phishing, malware, viruses and other malicious threats. If these have been clicked, it won’t work when you try to click on the link.
For security reasons, e-mail address changes can only be complete by your Member Engagement Manager. Please contact the team directly for further help.
