《中国金融》｜技术创新驱动跨境支付多元化发展

Core Viewpoint - The article emphasizes the collaboration between cross-border payment service providers and regulatory bodies to leverage technological innovation for reducing costs, enhancing efficiency, and promoting diversified market development in cross-border payments [1] Group 1: Current State of Cross-Border Payment Market - The global cross-border payment market is dominated by four payment models and a dual-layer infrastructure, including agency models, proprietary closed-loop models, regional integration models, and peer-to-peer models [2] - In 2024, the global cross-border payment volume is projected to reach $194.6 trillion, with wholesale payments accounting for approximately $149 trillion (77%) and retail payments around $45 trillion [3] Group 2: Cost Analysis of Cross-Border Payments - The average cost of B2B payments is the lowest at 0.1%, while C2C payments incur the highest average cost of 6.2%, indicating significant improvement opportunities in the retail payment sector [4] - Retail payments, particularly in the C2C market, represent a substantial portion of the high-cost landscape, highlighting the potential for technological advancements to reduce these costs [4] Group 3: Technological Innovations in Cross-Border Payments - Technological innovation is a key driver of the cross-border payment market, influencing various models and applications, with wholesale payments benefiting significantly from these advancements [5] - The SWIFT GPI system has implemented blockchain technology to enhance real-time tracking of fund flows, achieving that 50% of agency model payments are settled within 30 minutes and nearly 90% within one hour [6] Group 4: Emerging Payment Models and Infrastructure - The proprietary closed-loop model, led by card organizations and electronic wallets, has gained traction in retail payments, with companies like Visa and PayPal innovating to enhance cross-border payment efficiency [7] - Central banks are exploring blockchain technology for digital currency cross-border payment trials, exemplified by the Jasper-Ubin project between Singapore and Canada, which allows direct interconnection and settlement without third-party involvement [8] Group 5: Future Trends and Recommendations - The future of the cross-border payment market is expected to be characterized by diversification driven by technological advancements, with both traditional and emerging payment institutions leveraging new technologies [9] - Continuous innovation in technology must be accompanied by institutional and regulatory innovations to address the complexities of cross-border payments and build trust among various stakeholders [9]