Cross-Border Digital Payment Systems: The Case of Singapore, Thailand, Malaysia, and Beyond

“A revolution in digital technology and telecommunication has made an outsized impact on financial services and payments in the last three decades. We access our bank accounts from our phones, make instantaneous transfers, and buy goods and services online. Within countries, these new ways to access digital financial services have made payment systems very efficient, inexpensive, and more inclusive. Progress on cross-border payments, however, has been much slower. Moving money from one country to another can still be slow, expensive, and inconvenient,” the IMF’s Bo Li told a conference organized by the Singapore Regional Training Institute.

Read more at the IMF website.

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