The Global Payments Forum brought together senior payments executives, global standard-setters, and technical experts to discuss payments innovation and efforts for more secure, faster, more transparent, and lower-cost payments. New technologies and modernized standards are yielding results, and speakers shared examples of progress being made today and visions for the payments systems of the future.

• Fraud prevention is top of mind as AI-enabled scams have driven billions in losses and costs. Maintaining security and trust in payments is essential but expensive and requires sustained investment in new technology.
• There is a contrast between front-end progress and remaining back-end challenges. Low value payments systems are significantly improved since 2020 when the G20 launched their initiative. High-value money movement mechanisms are good today but need focus for the future, and this is where new technologies are coming in as tokenization and ledger systems are being used to build a step change in the future of payments.
• Global speed metrics today are already improved overall as 90% of payments arrive within one hour and 99% in twenty-four hours. That said, “last mile frictions” can impact crediting to accounts.
• Instant payment systems are a government priority around the world in retail payments strategies as cashless consumers seek a consistent wallet-based experience; however, challenges can be significant for cross-border interlinking as many IPS have uneven compliance controls in place.
• There is remarkable diversity of payments types with different dimensions in geography, size, and purpose. These are driven by customers who have very different requirements for different payment scenarios. As a result, there are different paths to progress.