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By the end of this decade, the global payments ecosystem will look markedly different.
Towards a real-time
Real-time processing, cross-border interoperability, and blockchain-enabled innovations are set to reshape the way money moves around the world — creating a smarter, faster and more connected financial system.
This transformation is being propelled by converging forces.
Rapid globalisation of trade, the digitalisation of commerce, technological breakthroughs, and coordinated policy interventions such as the G20’s initiative to harmonise payments standards.
Together, they are forging a new era in cross-border transactions that promises greater speed, transparency, and inclusivity.
The economic prize is substantial.
Research from the Bank for International Settlements suggests that each one-percentage-point rise in digital payment adoption could add 0.10 percentage points to per-capita GDP within two years.
For governments, corporates, and consumers alike, efficient cross-border payments are no longer a convenience — they are an economic growth lever.
Globalisation and the Demand for Seamless Payments
International trade patterns are shifting in response to geopolitical realignments, tariffs, and economic volatility.
Businesses are adapting by diversifying supply chains and expanding into new growth markets.
HSBC’s survey of more than 1,100 firms revealed that 96% see international expansion as critical, with 70% expecting most of their revenues to come from overseas within five years.
For such companies, the ability to move funds quickly and reliably across borders underpins competitiveness.
Payment delays or high transaction costs are more than an operational nuisance; they can disrupt supply chains, strain working capital, and undermine customer trust.
E-Commerce and the Rise of Micro-Transactions
The global e-commerce market, valued at $25.93 trillion in 2023, is projected to almost double to $47.7 trillion by 2030.
This expansion brings with it a surge in lower-value, high-frequency payments — both domestic and cross-border — driven by real-time rails, the gig economy, and social commerce.
Consumers now expect the frictionless experience they enjoy in domestic transactions to be replicated internationally.
Market Infrastructure Modernisation
Real-time payment (RTP) schemes are at the heart of payments modernisation.
ACI Worldwide forecasts RTP volumes will exceed $575 billion globally by 2028.
Most schemes remain domestic, but the appetite for cross-border connectivity is growing, especially for peer-to-peer and SME transactions.
Asia is pioneering bilateral and multilateral RTP linkages:
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Hong Kong’s FPS is connected to Thailand’s PromptPay;
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Singapore’s PayNow links to networks in India and Thailand;
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BIS Innovation Hub’s Project Nexus is developing a multilateral model connecting systems in Malaysia, Singapore, the Philippines, Thailand, and India;
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China’s IBPS integrates with Hong Kong’s FPS.
These projects provide a blueprint for global RTP interoperability, with potential to make international transfers as instantaneous as local ones.
Security, Trust and the Fraud Challenge
A more digital and interconnected payments ecosystem also brings heightened cyber risk.
The 2025 AFP Payments Fraud and Control Survey found that 79% of organisations faced payment fraud attempts in 2024.
AI-powered threats add further urgency to strengthening defences.
Pre-validation tools are becoming a cornerstone of fraud prevention.
The UK’s Confirmation of Payee system, along with similar schemes in Hong Kong, India, and Thailand — and upcoming versions in Australia and Europe — enable senders to confirm beneficiary details before transferring funds.
SWIFT’s Banking Account Validation and Central Banking Validation solutions extend this capability across jurisdictions.
Yet technology alone is insufficient.
A multi-layered approach, combining robust security controls, heightened employee awareness, and shared responsibility across the ecosystem, is critical to preserving trust.
Standardisation as the Foundation for Growth
The ISO 20022 standard is emerging as a universal payments language, enabling richer, structured data that enhances transparency, automates reconciliation, and strengthens compliance with financial crime regulations.
Its adoption offers corporate treasuries greater visibility over cash flows and more effective liquidity management — vital in an uncertain macroeconomic climate.
The Digital Money Continuum
Distributed ledger technology (DLT) and tokenisation are no longer niche experiments.
They promise 24/7 settlement, reduced reliance on correspondent banking, and improved KYC/AML compliance through transparent, immutable records.
Regulatory approaches vary.
In the US, legislation such as the Genius Act has encouraged stablecoin adoption, while other jurisdictions explore central bank digital currencies (CBDCs) and tokenised deposits for cross-border efficiency.
Corporates are beginning to see tokenisation as a tool for liquidity optimisation and treasury innovation.
By 2030, instant payments could account for more than 20% of global transaction volumes, supported by interoperable DLT frameworks, AI-driven security, and converging regulatory standards.
Initiatives such as Project Nexus, combined with the mainstreaming of tokenised assets, could fundamentally reshape liquidity management and cross-border commerce.
Building for the Future
The convergence of technological innovation, shifting trade patterns, and evolving regulatory frameworks is creating a pivotal moment in payments history.
For corporates, the imperative is clear: invest in the capabilities, partnerships, and security frameworks needed to thrive in a real-time, borderless payments environment.
Those that act now will be best positioned to leverage the opportunities of a connected global economy — where payments are instant, transparent, and trusted, no matter the distance.
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