In a CPMI Brief, staff of the Bank for International Settlements Committee on Payments and Market Infrastructures, working with the Financial Stability Board, present findings from the 2025 monitoring survey on the G20 cross-border payments roadmap. Based on responses from 82 jurisdictions covering 197 operational payment systems, the brief shows gradual improvements in payment infrastructure, access and standards, but uneven implementation across regions and technical areas means the G20 targets are unlikely to be fully met by 2027. The survey found broader use of fast payment systems, more extended operating hours for real-time gross settlement systems and wider direct access for non-bank payment service providers. In 2025, 11 RTGS systems operated 24/7, and the share of RTGS systems already operating 24/7, having completed an extension, or planning or considering one rose to 66% from 38% in 2023. Direct access for authorised non-bank PSPs increased to 45% of fast payment systems and 39% of RTGS systems. Cross-border processing is now available in 47% of fast payment systems and 48% of RTGS systems, with 13 fast payment systems reporting interlinking arrangements, mainly in Asia-Pacific. On standards, 77% of fast payment systems and 53% of RTGS systems process ISO 20022 messages, while APIs are used by 79% of fast payment systems and 37% of RTGS systems. Jurisdictions also reported further progress in legal and supervisory frameworks, including cross-border payments oversight frameworks in 58% of jurisdictions and payments-data transfer mechanisms in 65%. The brief identifies further priorities in scaling fast payment system links, expanding access for non-banks and foreign banks, extending RTGS hours especially in the Americas and Europe, and aligning ISO 20022 implementations with CPMI harmonisation requirements before end-2027. Most planned bilateral fast payment links are expected to go live by 2026, while hub-and-spoke initiatives are expected to start operations by 2028.
Bank for International Settlements - Committee on Payments and Market Infrastructures2026-05-27
Bank for International Settlements Committee on Payments and Market Infrastructures publishes 2025 survey showing uneven progress on cross-border payments
The BIS Committee on Payments and Market Infrastructures and the Financial Stability Board report gradual improvements in payment infrastructure, access and standards under the G20 cross-border payments roadmap but find uneven implementation and deem the 2027 targets unlikely to be fully met. The 2025 survey notes wider use of fast payment systems, longer RTGS hours, greater non-bank access, broader cross-border processing and increased ISO 20022 and API adoption. Priorities include scaling fast payment links, expanding access for non-banks and foreign banks, extending RTGS hours in the Americas and Europe, and aligning ISO 20022 implementations with CPMI harmonisation requirements.