There are good reasons for most countries to improve cross-border payment efficiencies, though that desire is complicated by technical and legal issues. But new forms of digital money potentially open up some interesting new channels.
Five regional central banks have announced plans to enable QR code-based cross-border payments. Furthermore, they want to link such a network to other regional payments platforms and eventually to central bank digital currencies.
To get a better sense of the shift in businesses’ attitudes and behaviours as we emerge from the pandemic, as well as payment pain points, Mastercard surveyed leaders of over 3,000 small and medium sized enterprises (SMEs) from around the world for the Mastercard Borderless Payments Report 2022.