IPFA Cross Border Survey

	More Work Needed	Some Progress	Fully Solved
Payment system differences	Payment system differences More Work Needed	Payment system differences Some Progress	Payment system differences Fully Solved
Inability to track payments globally	Inability to track payments globally More Work Needed	Inability to track payments globally Some Progress	Inability to track payments globally Fully Solved
Lack of pricing transparency	Lack of pricing transparency More Work Needed	Lack of pricing transparency Some Progress	Lack of pricing transparency Fully Solved
Lack of global interoperability	Lack of global interoperability More Work Needed	Lack of global interoperability Some Progress	Lack of global interoperability Fully Solved
Different message formats	Different message formats More Work Needed	Different message formats Some Progress	Different message formats Fully Solved
High costs	High costs More Work Needed	High costs Some Progress	High costs Fully Solved
Timeframe to complete payment	Timeframe to complete payment More Work Needed	Timeframe to complete payment Some Progress	Timeframe to complete payment Fully Solved

Question Title

* 2. The ability to make real-time transfers from one account to another is rapidly becoming the new normal in domestic payments systems. In your view, how important is the ability to interconnect domestic systems to achieve real-time, cross-border payments?

Very important

Somewhat important

Not important

Question Title

* 3. Thinking about the different use cases as well as channels that comprise cross-border payment below, how important is having an instant, credit push capability for growth in these areas?

	Key Enabler	One of Many Channels	Not Important
Peer to Peer (P2P)	Peer to Peer (P2P) Key Enabler	Peer to Peer (P2P) One of Many Channels	Peer to Peer (P2P) Not Important
Bill Payments (P2B)	Bill Payments (P2B) Key Enabler	Bill Payments (P2B) One of Many Channels	Bill Payments (P2B) Not Important
Invoice Payments (B2B)	Invoice Payments (B2B) Key Enabler	Invoice Payments (B2B) One of Many Channels	Invoice Payments (B2B) Not Important
Income Payments (B2C)	Income Payments (B2C) Key Enabler	Income Payments (B2C) One of Many Channels	Income Payments (B2C) Not Important
Merchant Payment (POS)	Merchant Payment (POS) Key Enabler	Merchant Payment (POS) One of Many Channels	Merchant Payment (POS) Not Important
Remote Payments (eCommerce)	Remote Payments (eCommerce) Key Enabler	Remote Payments (eCommerce) One of Many Channels	Remote Payments (eCommerce) Not Important

Question Title

* 4. We’d like to know your view on the business issues that real-time, cross-border payment could help resolve. Which is the most important reason for your organization?

Decreases payment system risk

Eliminates delays in receiving payment

Improves economic competiveness

Provides actionable information for sender & receiver to improve business processes

Other (please describe)

Question Title

* 5. What do you think is the most important obstacle to implementing cross-border, real-time payments?

Consumer or enterprise lack of interest

Financial institution opposition due to cannibalization of existing revenues

Financial institution opposition due to perceived risks, operational issues/challenges

Ineffectiveness of existing tools to combat fraud

Lack of alignment in legal or regulatory frameworks across jurisdictions

Financial institution opposition due to resource constraints

Other (please describe)

Question Title

* 6. Payment finality means that the sender cannot reverse or contest a payment once it is originated. This is often considered a key contributor to lowering costs in a payment system. Do you believe that payment finality will become a widely-practiced rule in real-time, cross-border payments?

Yes

Question Title

* 7. There are a number of initiatives underway today to improve cross-border payment. Thinking about the types of initiatives below, what is your view on the ability of each to truly resolve the pain points of cross-border payments?

	This is The Solution	Certainly Has Potential	Limited Potential
Closed-loop schemes (e.g. PayPal, Alipay, WeChat)	Closed-loop schemes (e.g. PayPal, Alipay, WeChat) This is The Solution	Closed-loop schemes (e.g. PayPal, Alipay, WeChat) Certainly Has Potential	Closed-loop schemes (e.g. PayPal, Alipay, WeChat) Limited Potential
Correspondent banking (e.g. SWIFT’s Gpi)	Correspondent banking (e.g. SWIFT’s Gpi) This is The Solution	Correspondent banking (e.g. SWIFT’s Gpi) Certainly Has Potential	Correspondent banking (e.g. SWIFT’s Gpi) Limited Potential
Distributed ledger technology (e.g. Ripple)	Distributed ledger technology (e.g. Ripple) This is The Solution	Distributed ledger technology (e.g. Ripple) Certainly Has Potential	Distributed ledger technology (e.g. Ripple) Limited Potential
Implementing regional integration schemes (e.g. Single Euro Payment Area)	Implementing regional integration schemes (e.g. Single Euro Payment Area) This is The Solution	Implementing regional integration schemes (e.g. Single Euro Payment Area) Certainly Has Potential	Implementing regional integration schemes (e.g. Single Euro Payment Area) Limited Potential
Mobile money (e.g. Safaricom’s M-Pesa)	Mobile money (e.g. Safaricom’s M-Pesa) This is The Solution	Mobile money (e.g. Safaricom’s M-Pesa) Certainly Has Potential	Mobile money (e.g. Safaricom’s M-Pesa) Limited Potential
Money transmitters (e.g. TransferWise)	Money transmitters (e.g. TransferWise) This is The Solution	Money transmitters (e.g. TransferWise) Certainly Has Potential	Money transmitters (e.g. TransferWise) Limited Potential
Virtual currencies (e.g. Bitcoin)	Virtual currencies (e.g. Bitcoin) This is The Solution	Virtual currencies (e.g. Bitcoin) Certainly Has Potential	Virtual currencies (e.g. Bitcoin) Limited Potential

Question Title

* 8. We’d like to know a little more about you. Which category best describes your company or organization? (choose one)

Analyst or consultant

Central bank or regulator

Financial institution

Financial market infrastructure

Merchant

Vendors of payment services technology

Other (please describe)

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* 9. Which region do you live in? (choose one)

Canada & the United States

East Asia & the Pacific

Europe & Central Asia

Latin America & the Caribbean

Middle East & North Africa

South Asia

Sub-Saharan Africa

Question Title

* 1. Cross-border payments are often described as difficult and there are efforts underway to improve the process. We’d like to know your view on how much progress has been made to date in mitigating the pain points listed below.

Question Title

* 2. The ability to make real-time transfers from one account to another is rapidly becoming the new normal in domestic payments systems. In your view, how important is the ability to interconnect domestic systems to achieve real-time, cross-border payments?

Question Title

* 3. Thinking about the different use cases as well as channels that comprise cross-border payment below, how important is having an instant, credit push capability for growth in these areas?

Question Title

* 4. We’d like to know your view on the business issues that real-time, cross-border payment could help resolve. Which is the most important reason for your organization?

Question Title

* 5. What do you think is the most important obstacle to implementing cross-border, real-time payments?

Question Title

* 6. Payment finality means that the sender cannot reverse or contest a payment once it is originated. This is often considered a key contributor to lowering costs in a payment system. Do you believe that payment finality will become a widely-practiced rule in real-time, cross-border payments?

Question Title

* 7. There are a number of initiatives underway today to improve cross-border payment. Thinking about the types of initiatives below, what is your view on the ability of each to truly resolve the pain points of cross-border payments?

Question Title

* 8. We’d like to know a little more about you. Which category best describes your company or organization? (choose one)

Question Title

* 9. Which region do you live in? (choose one)