The Future of Cross-border Payments 2021 | Official Monetary and Financial Institutions Forum (OMFIF) | 14 December 2021 | Virtual Event

A new era in cross-border payments is coming. The G20 has made enhancing cross-border payments a strategic and economic priority. Progress is essential in an area viewed as critical and yet steadfastly characterised as high in cost and low in speed, with limited access and poor transparency. For the launch of OMFIF’s ‘Future of cross-border payments’ report, the Digital Monetary Institute is convening a panel to explore the potential role of digital currencies in cross-border payments, the future role of traditional payments providers and networks, the role of distributed ledger technology in upgrading wholesale payments and remittances, as well as next steps for global coordination.

The ‘Future of payments’ is the DMI’s annual benchmark report. Last year’s report explored the future of retail payments. It found that 75% of respondents find payment systems governance a key function of the state, with 56% also seeing a greater future role for public-private partnerships in payments.