Argentina
G20 Roadmap for enhancing cross border payments
Scorecard report on direct access and price transparency
Individual Country Reports
Mexico
South Korea
Saudi Arabia
South Africa
Ranking of g20 nations
G20 make progress, but more needs to be done
Direct Access
Our report reveals good momentum among G20 countries in opening payment systems to non-bank payment service providers, with Brazil, Canada, China, and the UK leading the charge. These nations are fostering innovation and competition through inclusive systems like Pix and the UK’s RTGS. However, progress varies, as places like India and the US lag behind, maintaining frameworks favouring banks. Countries such as South Africa and Saudi Arabia are yet to enact significant changes.
Discover more in the report to grasp the current state and future directions of direct access for non-banks in global financial systems. While there’s a promising start, the journey to full inclusivity and innovation continues. Dive into the details to see how we can get there together.
Radical action needed
Price Transparency
Our report highlights alarmingly slow progress in achieving price transparency in cross-border payments. While countries are moving forward in direct access, transparency remains frustratingly stagnant. The EU and the US have promising initiatives in the works, but to date weak enforcement allows hidden fees to thrive, keeping consumer costs artificially high. In places like Brazil, South Africa, and Australia, transparency is undermined by ineffective regulation, keeping consumers unaware of the full costs. Nations such as India, Japan, and Saudi Arabia have yet to initiate any regulations to ensure cost clarity. The Financial Stability Board recognises that not enough has been done, and has to prioritise this as a matter of urgency.
This disparity underscores the urgent need for robust action. Delve into the report to uncover the transparency shortfalls, and join the movement advocating for stricter regulations and enforcement. Now is the time to demand open, fair cross-border payment practices globally.
