Expert Group on Cross-Border Payments

The transformation of cross-border payments has become top of mind among European payment practitioners. It is driven by the global introduction of ISO 20022 and other ongoing standardisation initiatives; new technologies, organisational processes as well as market entrants; and – last but not least – by the roadmap delivered by the G20 for enhancing cross-border payments. In light of these developments, multiple players in the payments ecosystem are faced with complex decisions and changes to make cross-border payments, including remittances, faster, cheaper as well as more transparent and inclusive.

To support industry efforts aimed at enhancing cross-border payment practices and/or processes in the AS-PSP space, the EBA conducted a scoping exercise with the support of a consultation group in 2023. Based on the recommendations of this group, the EBA launched the Expert Group on Cross-Border Payments (EGXP) in Q4 2023.

Task of the EGXP and scope of activities

The EGXP will evaluate the practical impact of selected topics on cross-border payments and develop recommendations for a suitable approach towards enhancing cross-border payments fostering harmonisation and/or avoiding market fragmentation.

As a first step, the EGXP will focus on the following two deliverables:

  • a stocktaking exercise of relevant cross-border initiatives covering success factors for meeting the G20 requirements as well as highlighting other strengths and weaknesses with regard to building reach and avoiding fragmentation, in particular;
  • an inventory of key hurdles to enhanced cross-border payments leveraging this stocktaking work, which may serve as a basis for a dialogue with the Committee on Payments and Market Infrastructures (CPMI) on hurdles and potential remedies.

In support of its works, the Expert Group may enter into a dialogue or seek information exchange with relevant market regulators.

The Expert Group will seek to avoid overlap with:

  • any aspects that are covered by the remit of other industry bodies or institutions, such as Swift, the Payments Market Practice Group (PMPG) or the European Payments Council (EPC);
  • activities of standardisation bodies;
  • aspects in relation to the G20 roadmap that are considered to be sufficiently covered or that are not within the remit of an association of payment practitioners.

In May 2024, the EBA ran a stocktaking survey on cross-border payment initiatives among its member banks. First findings from this survey are available in the following sneak preview slideset:

Expert Group on Cross-Border Payments (

To learn more about the EGXP, please refer to the group’s Terms of Reference available for download below.

Terms of Reference of the Expert Group on Cross-Border Payments