RBA report looks at cross-border payments

Multilateral platform would be more scalable than bilateral links, Australian central bank says

The Reserve Bank of Australia
Rachael King

Linking Australian fast payments systems to their foreign equivalents is probably best done within a multilateral framework, a report by the country’s central bank found.

The Reserve Bank of Australia (RBA) conducted a joint study with several key players in the cross-border payments sector. The participants were Australian Payment Plus, Australian Payments Network, Swift, Wise, Commonwealth Bank, HSBC, National Australia Bank and Westpac.

In a report on the project, the RBA noted that several

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