Connectivity makes payments faster and cheaper – panel
Officials at Summer Meetings discuss need to facilitate cross-border payment systems
Central bankers from countries with large migrant populations have said connecting payment systems would enable faster and cheaper cross-border transactions.
Speaking at a panel discussion at the Central Banking Summer Meetings on June 12, one senior official said there was significant demand for quick and affordable remittance payments in their country, many of whose citizens worked overseas. The official said reliance on correspondent banks – and the “less than favorable” exchange rates they
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