FSB-Developing the Implementation Approach for the Cross-Border Payments Targets-report (2022-07-07)（英文）行業(yè)資料

DevelopingtheImplementationApproachfortheCross-BorderPaymentsTargets

Interimreport

6July2022

TheFinancialStabilityBoard(FSB)coordinatesattheinternationalleveltheworkofnationalfinancialauthoritiesandinternationalstandard-settingbodiesinordertodevelopandpromotetheimplementationofeffectiveregulatory,supervisoryandotherfinancialsectorpolicies.ItsmandateissetoutintheFSBCharter,whichgovernsthepolicymakingandrelatedactivitiesoftheFSB.Theseactivities,includinganydecisionsreachedintheircontext,shallnotbebindingorgiverisetoanylegalrightsorobligations.

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iii

TableofContents

Executivesummary

1

1.Introduction

3

2.Datasourcesandcollectionmethodology

4

Datacollectionmethodology

4

Summaryofexistingdatasourcesidentifiedduringthedevelopmentoftheinterim

report 5

3.Keyperformanceindicators,datagaps,andpotentialoptionsgoingforward

6

Wholesalesegment

7

Retailsegment

9

Remittancessegment

15

4.Nextsteps

18

Annex1:TargetsfortheCross-BorderPaymentsRoadmap

20

iv

1

Executivesummary

AfoundationalstepintheG20roadmapforEnhancingCross-borderPayments

1

wasthesettingofquantitativetargetsatthegloballevelthataredirectlyrelatedtothechallengesfacedbycross-borderpayments:cost,speed,transparencyandaccess.ThetargetsdefinetheRoadmap’sambitionandcreateaccountability.However,measuringprogresstowardthesetargetswillnotbestraightforwardbecausenocomprehensivedatasourcescurrentlyexist.Toconductthework,theFSBestablishedaworkinggroupofexpertsfromFSBmemberorganisationstodevelopspecificproposalsforKeyPerformanceIndicators(KPI)andtoidentifyexistingandpotentialsourcesofdataforcalculatingthoseKPIsandmonitoringprogresstowardthetargetsgoingforward.ThisinterimreportisanopportunityfortheFSBtosharewiththepublicandreceivefeedbackontheworkinggroup’spreliminaryobservationsandrecommendationsasitworkstofinalisetheapproachtobetakenforward.

Thethreemarketsegments(wholesale,retailandremittances)forwhichtargetshavebeensetdiffersubstantiallyintheirend-users,infrastructures,processes,andpaymentmechanisms,whichinfluencestheworkinggroup’sproposedKPIsandthedatabasesthatareavailable.

Forthewholesalesegment,theworkinggroupisproposingsegment-wideKPIsandviewsprivate-sectornetworkprovidersasthemostpromisingdatasourcesformonitoringspeedandaccess.Theworkinggroupisevaluatingtheuseofsurveysandproxiesformonitoringtransparency.

Fortheretailmarketsegment,theworkinggroupisproposingdifferentiatedKPIsacrossthesegment’sheterogeneoususe-cases(e.g.,business-to-business(B2B),business-to-person(B2P),person-to-business(P2B),andnon-remittanceperson-to-person(P2P))thatcouldpotentiallybeaggregatedintoasegment-wideKPI.ThiswouldincreasetheKPIs’representativenessandallowforabetterunderstandingofhowthefourchallengesandprogresstowardmeetingthetargetsdifferamongthoseuse-cases.Theenormousvarietyofend-usersandpaymentserviceproviders(PSPs)intheretailsegmentmakecollectingcomprehensivedatainfeasible.Instead,theworkinggroupisevaluatingthefeasibilityofcollectingrepresentativesamples,forinstancefromprivate-sectordataaggregators.

2

Finally,fortheremittancessegment,thepublicsector’slong-standinggoalofimprovingconditionsinthissegmenthasledtotheestablishmentofmultiplehigh-qualitydatabases,mostnotablytheWorldBank’sRemittancePricesWorldwide(RPW)database(especiallyusefulformeasuringthecost,butalsothespeed,accesstoandtransparencyofremittanceflows)andGlobalFindexdatabase(especiallyusefulformeasuringaccessandfinancialinclusion).Theworkinggroupisproposingtoleveragethese,andsimilar,public-sectordatabasestocalculatesegment-wideKPIs.

Thetargetshavebeensetandwillbemonitoredatagloballevel.Inaddition,inordertoassesswhereprogressisbeingmadeandwherechallengesremain,collectionandpublicationofat

1

2

FSB,

Enhancingcross-borderpaymentsroadmap,

October2020.

Forthepurposesofthisreport,theterm“dataaggregators”referstofirmsthatcollectdatafromoneormoresources,standardisingandotherwiseenrichingthedata,andrepackagingtheresultinausableform.

2

leastsomeformofdisaggregateddata(e.g.byregion,byjurisdiction,bytypeofpaymentortypeofpaymentserviceprovider)willalsobeconductedtotheextentfeasible.

Whiletheworkinggrouphasmadesignificantprogress,datagapsremainandtheproposalsformeasuringtheKPIsneedtobeoperationalisedthroughfurtherdiscussionswithpotentialprovidersofdata.Forexample,fewPSPsorinfrastructureshavevisibilityintotheend-to-end(payertopayee)paymentchain,whichisnecessaryforcalculatingthetrueend-to-endspeedorcostofacross-borderpaymentinthewaythetargetsrequire.Moreover,itisasyetuncleartowhatextentdataavailabilitymaybegreaterforsomecorridorsthanothers,leadingtoapotentiallybiasedpicture.

3

Aspartofitsnextsteps,theworkinggroupwilldimensionremainingdatagapsacrossthetargetsandarticulatespecificstrategiesandprioritiesforenhancingexistingdatabasesorcreatingnewdatabasestofillthem.

AsistruefortheRoadmapbroadly,strongcommitmentandcoordinationwillbecriticaltosuccess.Theinvolvementoftheprivatesectorwillbekeytosupportthemonitoringofprogresstowardthetargets.TheFSBinvitesfeedbackfromthepubliconthepreliminaryproposalsinthisreport.Inparticular,feedbackisappreciatedonthefollowingquestionsthatwillassistinfinalisingtheapproachtomeasurementoftheKPIs.

1.HastheFSBidentifiedappropriatepotentialsourcesofdataforefficientlymonitoringprogresstowardtheRoadmap’stargets?What,ifany,additionaloralternativepublicorprivatedatasourcesshouldtheFSBalsoconsiderandforwhatKPIs?

2.HastheFSBdefinedtheKPIsappropriately,suchthattheyarecloselyandmeaningfullytiedtotherelevanttarget?What,ifany,additionalconsiderationsshouldinformthecalculationoftheKPIssothattheyprovidesufficientlyrepresentativemeasurementsofprogresstowardthetargetswithoutbeingoverlyburdensome?

3.TheFSBisevaluatingtheuseofproxiesformonitoringprogresstowardsomeofthetargets.Aretheproxiesproposedappropriate?What,ifany,additionaloralternativeproxiesshouldtheFSBconsiderthataresufficientlyrepresentativeandsimplifymonitoring?

Feedbackshouldbesentto

fsb@

by31July2022withthetitle“Monitoringprogresstowardcross-borderpaymentstargets”.TheresponsesareforthepurposeofinformingtheFSB’sTargetsDataGroupinitsfurtherworkandwillnotbepublished.

Inparticular,theresponseswillhelptoinformtheFSB’sreportinOctober2022totheG20andthepublicwithfurtherdetailsoftheimplementationapproachandtheKPIs.Estimatesofcurrentperformanceofcross-borderpaymentsbasedontheKPIsarelikelytotakesomemonthsfurthertodevelop,basedoncollaborationwithpotentialdataproviderstodevelopreliableestimates,andwillbepublishedonceavailable.

3

Forthepurposeofthisreport,corridorreferstocountrycorridor,whichisthecombinationofaspecificsendingcountryandaspecificreceivingcountry.

3

1.Introduction

TheG20madeenhancingcross-borderpaymentsapriorityduringtheSaudiArabianPresidencyin2020.Makingcross-borderpayments,includingremittances,faster,cheaper,andmoretransparentandinclusive,whilemaintainingtheirsafetyandsecurity,wouldhavewidespreadbenefitsforcitizens,businesses,andeconomiesworldwide,supportingeconomicgrowth,internationaltrade,globaldevelopment,andfinancialinclusion.

InOctober2020,theG20endorsedtheRoadmapforEnhancingCross-borderPayments,whichtheFSBdevelopedincoordinationwiththeCommitteeonPaymentsandMarketInfrastructures(CPMI)andotherinternationalorganisationsandstandard-settingbodies.TheRoadmapisacomprehensive,high-levelplandesignedtoaddressfourchallenges:hightransactionscosts;

4

lowspeedinend-to-endprocessingtimes;

5

limitedaccessforusersaccessingPSPsaswellasPSPsaccessingpaymentsystemsandotherarrangements;andlimitedtransparencyaboutcosts,speed,processingchains,andpaymentstatusforend-usersandPSPsalike.

Subsequently,in2021,theFSBpublishedtheTargetsforaddressingthefourchallengesofcross-borderpayments:Finalreport(Targetsreport).

6

TheTargetsreportset11targetsatthegloballevelthataredirectlyrelatedtothefourchallengesacrossthreesegmentsofthecross-border-paymentsmarket–wholesalecross-borderpayments,retailcross-borderpayments,andremittances.

7

ThetargetsprovideacommonvisionfortheimprovementssoughtundertheRoadmapandestablishexpectedoutcomes.Thetargetsweresetinaninclusivemanner,includingthroughapublicconsultationthatwaslaunchedinMay2021,

8

andwereendorsedbytheG20LeadersattheOctober2021Summit.

Inaddition,theFSBcommittedtoprovidingareportinOctober2022totheG20andthepublicwithfurtherdetailsoftheimplementationapproach,andwithKPIsprovidingestimatesofcurrentperformanceofcross-borderpaymentstoprovideabaselineagainstwhichfutureprogresstowardthetargetscanbemonitored.IfthefindingsbyOctober2022shouldindicateaneed,adjustmentstothedefinitionofthetargetsmaybemadeatthatstage.Toconductthework,theFSBestablishedaTargetsDataGroup(TDG)ofexpertsfromFSBmemberorganisationstodevelopspecificproposalsformeasuringprogresstowardeachofthetargets,includingwhichbreakdownscouldcomplementtheglobal-levelmeasurements(e.g.,byregionorbypaymenttype),andtomakerecommendationsonhowtooperationalisethemonitoringexercise,includingwhichorganisation(s)wouldbebestsuitedforsourcingthedata.TheTDG’sworkisguidedbytheprinciplesarticulatedintheTargetsreport:

■Lightapproachwherepossible:Timeconsumingandexcessivereportingshouldbeavoided

4

5

6

7

8

Thechallengeofcostreferstototaltransactioncostsincurredbyend-users(includingcostsincurredbothbythepayerandbythereceiveroffunds),andcomprisesvariouselementsincludingtransactionfees,accountfees,appliedFXconversionrates,andfeesalongthepaymentchain.

Thechallengeofspeedinvolvestheprocessingtimeofapaymentfromendtoend,includingfactorssuchasthetimerequiredfordisputeresolutions,reconciliationsandsearches,possibleslowprocessesforfundinganddefunding,dailycut-offtimesandclosingtimes,aswellasAnti-MoneyLaundering/CombatingtheFinancingofTerrorism(AML/CFT)checks.

FSBReport(2021),

TargetsforAddressingtheFourChallengesofCross-BorderPayments(FinalReport)

,October.SeeAnnex1:TargetsfortheCross-BorderPaymentsRoadmap.

FSB,

TargetsforAddressingtheFourChallengesofCross-BorderPayments:

ConsultationReport,May2021.

4

■Datashouldbeaggregatedtoprotectfirms’confidentiality

9

■Existingdatacollectionshouldbeleveragedwhererelevant

■Existingchannelsshouldbeusedwherepossible

■Anynewdatacollectionrequiredshouldbelimitedinsizeandscope

■Collecteddatashouldberepresentativeofunderlyingmarkettrends

■Indicatorsshouldberepresentativeofthedifferentcontextsofend-users

Theworkinggrouphasalsocollectedinputthroughoutreachevents.InApril,theworkinggroupheldanoutreacheventwithadiversegroupofindustryparticipantsfollowed,inMay,byanoutreacheventorganisedbytheFSBwithofficial-sectorrepresentativesfromtheFSB’sRegionalConsultativeGroups.

10

ThisinterimreportprovidesanupdateontheTDG’sworktowardestablishingKPIsandidentifyingsourcesforthedatanecessaryfortheircalculationandseeksfeedbackfromstakeholderstothispreliminarywork.

2.Datasourcesandcollectionmethodology

Measuringprogresstowardthetargetsisnotstraightforwardbecausetherearenoexistingdatasourcesthatcomprehensivelycapturedataaboutcross-borderpaymentsgloballyforanyofthethreemarketsegments.Inaddition,thecross-borderpaymentsecosystemisdiverseandmulti-layered,andthepaymentarrangementsusedtosupportthethreemarketsegmentsdiffergreatly,whichresultsinmanyfragmentedandheterogeneousdatasources,fewofwhichcapturecross-bordertransactionsend-to-endfrompayertopayee.Thissectionprovidesanoverviewofhowthesechallengeshaveinformedconsiderationsrelatedtopotentialdatacollectionmethodologiesandoftheexistingdatasourcesthathavebeenidentified.

Datacollectionmethodology

TheTargetsreportidentifiedtwopotentialdatacollectionmethodologiesfortheTDGtoconsider:Option1:ComprehensivecollectionandaggregationofdatafromindividualPSPs;andOption2:SurveysofPSPsorsamplingoftransactiondata.

Astheworkinggrouphasevaluatedthelandscapeofexistingdatasources,thechallengesandcostsassociatedwithpursuingacomprehensivecollectionofdatafromindividualPSPsacrossawidesectionofthemarketlikelyprecludethefirstoptionfrombeingtheprimarymethodologyforcollectingtherequisitedata,atleastintheshortterm.Certaindatamaybeavailablefromafewkeyserviceprovidersanddataaggregators.Furthermore,considerationisbeinggiventowhat,ifany,opportunitiesexistfortheofficialsectorindifferentjurisdictionstoplayarolein

9beidentifiedwillbe

Nodatathatcaneitherdirectlyorthroughinferenceallownon-publicinformationaboutspecificfirmstopublished,including,forexample,aggregateddataabouthighlyconcentratedmarkets.

10FormoreinformationontheFSB’ssixRegionalConsultativeGroups,see

FSBwebsite

.

5

supportingthecollectionofcertaindata.However,feedbackfromtheMayoutreacheventwithFSBRCGrepresentativessuggestedtheopportunitiesmaybelimitedasmanyjurisdictionsdonotsystematicallycapturedataaboutcross-bordertransactionsintheformthatwouldbenecessaryforcalculatingKPIs.Therefore,otherapproacheswillbeneededasacomplement,andsurveysandsamplingwilllikelyplayanimportantroleinthisregard.

InadditiontothetwomethodologiesidentifiedintheTargetsreport,theTDGisevaluatingtheuseofproxiesasanindirectbutefficientwayofmonitoringprogresstowardsomeofthetargets.Forexample,inthecontextoftransparencyintheretailsegment,theinformationthatend-usersreceivedependsontheirspecificserviceprovider,thenumberofwhichmakesevensamplingalikelyoverlyburdensomeapproach.However,somejurisdictionsandpaymentsschemeshavelegalandregulatoryrequirementsstipulatingwhatinformationmustbeprovidedtoend-users.Thepresenceoftheseregulationsorrules(orlackthereof)maybeabletoserveasaproxyforthetransparencytarget.

Summaryofexistingdatasourcesidentifiedduringthedevelopment

oftheinterimreport

Wholesale

Duringdiscussionsonwholesalesegmentdatasources,onenecessaryclarificationthatwasconsideredwaswhichtransactionsshouldbeincludedinthissegment.WholesalepaymentsaremadeforseveralreasonsincludingsecuritiesandFXsettlement,marginpaymentsforderivativesandliquiditytransfersbetweenentitiesofthesamebankinggroup.Thedecisionregardingwhichtypesofpaymentstoincludenotonlyhasabearingondatasourcesbutalsoontherelevanceofthetargetsthemselves(ragrouppaymentswouldlikelyalreadymeetcertaintargets).

Forthewholesalesegment,theworkinggroupisproposingsegment-wideKPIsandviewsprivate-sectornetworkprovidersasthemostpromisingdatasourcesformonitoringspeedandaccess.Inaddition,CPMI’sannualcorrespondentbankingdata

11

andtheBISRedBookdatawereconsideredaspotentiallyusefulfortheaccesstarget,whileindustrybodiescouldbehelpfulforspeed.Identifyingdatasourcesformonitoringtransparencyhasbeenparticularlychallenging,leadingtheworkinggrouptoconsidertheuseofproxiesorfirm-levelsurveys.

Retail

Theretailpaymentssegmentrepresentsavarietyofuse-cases,suchasB2B,B2P,P2B,andP2P.Capturingdataaboutthedifferentusecases,totheextentpossible,acrossjurisdictionsisimportantbecausedifferencesamongtheirmarket-structures,paymentarrangements,andend-users’needsorexpectationscouldreducetherepresentativenessofanyglobalaggregatethatdoesnottakethemintoaccount.Thismarket-segmentheterogeneityalsoincreasesthechallengesassociatedwithsourcingtherequisitedata,includinghavingtoaccountforinconsistentdefinitionsacrossdatabasestoallowforcomparisonandaggregation,anddifferent

11

Seehere.

6

13

Mysteryshoppingisatechniquecommonlyusedbymarketresearcherstotesttheprovisionofservicesthroughtheuseoftrainedpersonsactingasnormalcustomersandengaginginactualtransactions.

jurisdictions’heterogeneouslevelindataqualityandavailability.Anothercomplicatingfactoristhechallengeofdistinguishingremittancesfromnon-remittanceperson-to-persontransferswhenPSPsgenerallydonothaveinformationonthepurposeforthepayment.Tothisend,theworkinggrouphasidentifiedanumberofpotentiallyrelevantdatasources,includingnetworkproviders,andselectivesamplingofglobalandregionalPSPs.Inaddition,theworkinggroupisevaluatingusingdataavailablefromprivate-sectordataaggregators,atleastintheshortterm.

WithregardtotheaccessandtransparencyKPIs,theworkinggroupisevaluatingtheuseofavarietyofWorldBankandIMFdatabases,includingtheWorldBankEnterpriseSurvey,WorldBankGlobalFindex,WorldBankGPSS,andtheIMFFinancialAccessSurvey.

Remittances

TheworkinggroupconsiderstheWorldBank’sRemittancePricesWorldwideDatabase(RPW)akeysourceofdatafortheremittancesmarketsegment.

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WhiletheRPWprimarilymonitorsthecostofsendingremittancesasapercentageoftheamountsent,italsocollectsdataonspeed,access(focusedonfourtypesofRemittanceServiceProvider(RSP)accessforend-users:banks,postoffices,mobileoperators&moneytransferoperators(MTOs))andtransparency(RPWdatabaseincludesmysteryshoppingtojudgewhetherservicesareidentifiedastransparentornon-transparent).

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BeyondtheRPW,severalotherexistingsourceswereevaluated,indicatingthattheremittancessegmenthassignificantcoveragealready.Foraccess,theWorldBankGlobalFindexSurvey,theannualIMFFinancialAccessSurveyandtheWorldBankGlobalPaymentSystemsSurvey(GPSS)(whichsurveysnationalandregionalcentralbanksandmonetaryauthoritiesonthestatusofpaymentsystems)mightprovideusefulinformation.TheGPSSwasalsoconsideredasapossiblesourcefortransparencyinformation.Thesurveyincludesquestionsontransparencyrequirementsacrossjurisdictionsincludingindicatingwheretransparencyishigh(e.g.inprovidingreceipts)andwhereitislow(suchasinthestandardizationoftheformatofreceipts).

3.Keyperformanceindicators,datagaps,andpotential

optionsgoingforward

Foreachofthetargets,theTDGhasbeenworkingtodefinetheKPIsthatwillbeusedtomonitorprogressovertimeandtoidentifyexistingandpotentialsourcesofdataforcalculatingthoseKPIs.ThetablesinthissectionsummarisetheTDG’sworkinthisregard.Foreachtarget,thetableidentifiesthefollowing:

■KPI–theindicatorthattheTDGproposesformeasuringprogresstowardthetargetovertime

For

12informationabouttheWorldBank’sRPWDatabaseseehere.

7

■Potentialoptionsforsupportingdata–proposeddatasourcesthatcouldbeusedtocalculatetheKPIsandhowthedatawillbeused.Theproposeddatasourceseitherexistorcouldpotentiallybedevelopedinthenearterm

■Scopeofsupportingdata-theextentofthecoveragethatthesupportingdataprovides.

■ProposedmetricsforKPIs-themetricsthatarepotentiallyabletobecalculatedgiventhedatalimitationsthatexist

■Technicalnotes–materialtechnicaldetailsabouthowtheKPIswillbecalculated

■Remaininggaps–thegapsthatexistbetweentheKPIsandthemetricsduetodatalimitations

Wholesalesegment

Forthewholesalesegment,thefollowingtablesillustratetheKPIs,potentialsupportingdataandrelevantconsiderationswhicharebeingproposed.However,gapswouldremain.Forexample,relatedtospeed,networkprovidersonlyhavedataaboutapaymentfromthetimeanoriginatingbanksubmitsapaymenttothem.Theinitiationphase,whichisthetimebetweenapayerinitiatingapaymentwiththeiroriginatingbankandtheoriginatingbanksubmittingthatpaymenttothenetworkprovider,wouldnotbecovered.Similarly,nosinglenetworkprovidercanprovidedataabouttheentiretyofthemarket.Thiscouldcreatebiasesinthedataasanestimateoftheglobalmarket,andanygapsmightbefilledlongertermthroughfirm-levelsurveysorbyexpandingormodifyingexistingsurveysliketheWorldBank’sGPSSsurvey.

Table1:Wholesaletargetforspeed

Target:75%ofcross-borderwholesalepaymentstobecreditedwithinonehourofpaymentinitiationorwithinonehourofthepre-agreedsettlementdateandtimeforforward-datedtransactionsandfortheremainderofthemarkettobewithinonebusinessdayofpaymentinitiation,byend-2027.Paymentstobereconciledbyendofthedayonwhichtheyarecredited,byend-2027

KPI

1.

2.

3.

Percentageofcross-borderwholesalepaymentscreditedwithinonehourofpaymentinitiation,orwithinonehourofthepre-agreedsettlementdateandtimeforforward-datedtransactions

14

Percentageofcross-borderwholesalepaymentscreditedwithinonebusinessdayofpayment,orwithinonebusinessdayofthepre-agreedsettlementdateforforward-datedtransactions.

Percentageofcross-borderwholesalepaymentsreconciledbytheendofthedayonwhichtheyarecredited

Potentialoptionsforsupportingdata

?

?

AggregateddatafromthenetworkproviderstocalculateboththenumeratorsanddenominatorsforKPIs1and2

Surveyofbanks,financialinstitutionsandtradeassociationsonpercentageofcross-borderwholesalepaymentsoutsideofnetwork

14

Whereapre-agreedtimeisnotstatedonaforward-datedpayment,weassumetheendofthebusinessdayintherecipientjurisdiction.

8

providersthatare(not)creditedwithin1houror1businessdayofthepre-agreedsettlementdateandtime

Scopeofdata

supporting

?

?

Paymentsthatareinitiatedthroughthenetworkprovidersareasubsetoftheoverallnetwork.

Datafromnetworkproviderswouldnotcoverthetimebetweenapayerinitiatingapaymentwiththeiroriginatingbankandtheiroriginatingbanksubmittingthatpaymenttothem

Proposedmetricsfor

KPIs

?

?

Percentageofcross-borderwholesalepaymentsthroughthenetworkprovidersthatarecreditedtothepayee’saccountwithinonehourofinput

Percentageofcross-borderwholesalepaymentsthroughthenetworkprovidersthatarecreditedtothepayee’saccountwithinonebusinessdayofinput

Technicalnotes

?

?

Percentagesarebasedonnumberoftransactions

PercentagesforKPIs1and2arebasedonjurisdiction-levelnestedaverages(weightedbyvolume)

RemainingGaps

?

?

Datafromnetworkproviderswouldnotcapturethetimeassociatedwitheitherpaymentinitiation(theperiodoftimebeforethepaymentmessageissubmittedtothem)

KPI3notcovered

Table2:Wholesaletargetforaccess

Target:Allfinancialinstitutions(includingfinancialsectorremittanceserviceproviders)operatinginallpaymentcorridorstohaveatleastoneoptionand,whereappropriate,multipleoptions(i.e.multipleinfrastructuresorprovidersavailable)forsendingandreceivingcross-borderwholesalepaymentsbyend-2027

KPI

1.

2.

Percentageofpaymentcorridorswithnooptionforfinancialinstitutionsforsendingandreceivingcross-borderpayments(alltypesofserviceproviders)

Percentageofpaymentcorridorswithnoopti