BENTONVILLE, AR, UNITED STATES, August 27, 2026 /EINPresswire.com/ — The U.S. Faster Payments Council (FPC), a membership organization dedicated to promoting secure, user-friendly faster payments throughout the United States, today released a fresh report titled Interoperability: Bridging the Cross-Border Gap in a Faster Payments World, created by the FPC Cross-Border Payments Work Group and underwritten by Mastercard.
This publication examines the complete cross-border payment process through an interoperability lens, investigating why progress in faster payments, ISO 20022 implementation, and new digital settlement methods have not yet fully resolved the fragmentation, expense, and operational hurdles associated with international money movement. It addresses interoperability across the first mile, middle mile, and last mile, and also considers how liquidity influences every stage of the payment workflow.
“Interoperability forms the bedrock of genuinely smooth cross-border payments—linking disjointed payment networks so that money can travel across borders with the same ease as within a country,” said Mark Majeske, SVP of Faster Payments at Alacriti and Chair of the FPC Cross-Border Payments Work Group. “It cuts down on friction, reduces expenses, and ultimately makes global commerce quicker, more equitable, and easier to reach.”
The report evaluates two emerging architectural options for cross-border interoperability. Shared connectivity models, exemplified by Project Nexus, aim to connect domestic payment systems via common messaging, routing, and participation rules, whereas shared ledger models—including stablecoins and deposit tokens—enable settlement through a unified digital infrastructure. The report weighs these approaches according to their likely effects on cost, speed, accessibility, liquidity efficiency, security, and uniformity.
“The path forward for cross-border payments does not hinge on a single network or technology,” said Jonathan Holland, SVP–Head of Digital Currency Product Management at M&T Bank and Vice Chair of the Cross-Border Payments Work Group. “It depends on making systems, standards, and participants interoperate seamlessly. Interoperability is the connector that can turn that vision into reality.”
Both approaches show promise, but the report highlights several areas that require further attention to achieve full end-to-end interoperability. These include liquidity and foreign exchange coordination, portability of compliance data, alignment of governance, participation across diverse markets and institutions, and access in the first and last miles. The report concludes that progress will likely involve a combination of strategies operating across different corridors and use cases rather than depending on any single architecture.
“This report exemplifies what the FPC does best—bringing members together to delve into complicated subjects like how greater interoperability can enhance the cross-border payment experience,” said Reed Luhtanen, FPC Executive Director and CEO. “By tapping into the knowledge and viewpoints of our members, the report delivers useful insights on emerging approaches, remaining challenges, and considerations that will guide continued advancement in cross-border payments.”
The complete document, Interoperability: Bridging the Cross-Border Gap in a Faster Payments World, can be downloaded from the FPC’s Faster Payments Knowledge Center.
To learn more about the FPC, its ongoing initiatives, or how to become a member, visit FasterPaymentsCouncil.org.
Contact:
Elizabeth Grice
U.S. Faster Payments Council
720-737-7368
egrice@fasterpaymentscouncil.org
About the U.S. Faster Payments Council (FPC)
The FPC is an industry-led membership organization with a vision of a world-class payment system that enables Americans to safely and securely pay anyone, anywhere, at any time, with near-immediate availability of funds. By design, the FPC welcomes a broad spectrum of perspectives and is open to every participant in the U.S. payment system. Operating on principles of fairness, inclusiveness, flexibility, and transparency, the FPC employs collaborative, problem-solving approaches to address the barriers hindering widespread faster payments adoption in the country. For additional information, please go to FasterPaymentsCouncil.org and follow the FPC on LinkedIn and X.
###
Elizabeth Grice
U.S. Faster Payments Council
email us here
Visit us on social media:
LinkedIn
X
