The road ahead: Seamless payment interoperability

What’s inside?

This whitepaper from Thunes, Visa, and The Paypers delves into the pivotal role of payment interoperability in the digital economy. Payment system interoperability enables different payment systems to communicate, exchange information, and transfer value seamlessly and efficiently. Around the world, local payment methods and systems often operate in isolation, making it difficult and expensive to move money.  This paper simplifies this complex topic by covering:
  • A clear definition of interoperability
  • An overview of major payment systems and how they operate
  • The role of technology, common technical standards, regulations, and emerging technologies like DLT, stablecoins, and CBDCs in facilitating interoperability
  • How a lack of interoperability and friction can stymie growth, and prevent financial inclusivity
  • Workarounds to achieve interoperability
  • How solution providers like Thunes and Visa are enabling direct, cross-border payments between different endpoints to foster interoperability.