Cross-border payments
Plain definition. A cross-border payment is a transfer of money in which the person paying and the person being paid are located in different jurisdictions.
Technical definition. The Bank for International Settlements’ Committee on Payments and Market Infrastructures, in a January 2023 report, defines cross-border payments as funds transfers for which the payer and the payee (the end users) are located in different jurisdictions, and notes that such a payment may or may not involve currency conversion. Processing splits into a front end, where payers and payees deal with their payment service providers to start or receive payments, and a back end, where clearing and settlement run through different arrangements. The report sorts these back-end arrangements into four broad models: correspondent banking, single system or closed loop, interlinking, and peer-to-peer.
On this site
On this site, Cross-border payments comes up in How big is the cross-border payments market XRP competes for?, Is XRP used for payments outside Ripple’s own products?, Do central bank digital currencies and multi-CBDC platforms such as mBridge compete with XRP?, What does the evidence say about how much XRP liquidity a share of global payments would need? and How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates?.
Source
Exploring multilateral platforms (bis.org), read October 1, 2026.
Pages that cover Cross-border payments
- Do central bank digital currencies and multi-CBDC platforms such as mBridge compete with XRP?
- What does the evidence say about how much XRP liquidity a share of global payments would need?
- How big is the cross-border payments market XRP competes for?
- Is XRP used for payments outside Ripple's own products?
- What does bank payment use imply per XRP, and what does the evidence support?
- How long would XRPL liquidity take to reach $5B to $250B at 2026 growth rates?