Bank for International Settlements' Committee on Payments and Market Infrastructures renews invitation to market stakeholders to join cross-border payments interoperability and extension taskforce

The BIS Committee on Payments and Market Infrastructures (CPMI) invites firms that offer cross-border payment services and relevant industry associations to nominate senior representatives to serve on the taskforce on cross-border payments interoperability and extension (the "PIE taskforce").

Enhancing cross-border payments' speed and transparency, increasing access to safe and efficient cross-border payment services and reducing their costs are the key objectives of the G20 cross-border payments programme.

The work has been organised around three priority themes:

• interoperability and extension of payment systems
• data exchange and messaging standards
• legal, regulatory and supervisory frameworks

The programme's success requires private sector stakeholders' initiative and support, which is why the PIE taskforce was established in early 2023. It is chaired by Ulrich Bindseil, Director General Market Infrastructure and Payments, ECB. It focuses on the first two priority themes, while a taskforce led by the Financial Stability Board leads work on the third.

In the first two years, the PIE taskforce has provided a forum for key stakeholders to share insights, discuss with peers, engage with relevant authorities and jointly work on topics to enhance cross-border payments. During this time, the industry has identified areas of particular relevance for future work, which the PIE taskforce will take forward from 2025.

For this purpose, the CPMI seeks to renew the PIE membership to further increase geographic representativeness and include a broad range of business models. Hence, the CPMI is now relaunching this public call for interest for PIE taskforce membership.

Institutions that fully support the objective of safe and efficient cross-border payments and are committed to work towards achieving the G20 targets on enhanced cross-border payments are invited to propose candidates to serve on the PIE taskforce for 2025–26.

Nominees should have significant experience and direct responsibilities related to operational cross-border payments aspects, product development, business models, standards, interoperability technologies and/or policy issues.

They must be able to commit sufficient time and resources from within their organisation to support the taskforce's work until at least the end of 2026. Current members who are interested in continuing to participate in the PIE taskforce are also invited to respond to this call for interest.

The renewed PIE taskforce is expected to have between 30 and 40 members, drawn from a wide variety of jurisdictions and regions, and comprising various private sector institutional types and business models.

The taskforce will meet virtually and in hybrid format, at least quarterly. A limited number of public sector representatives will continue to attend as observers. The renewed membership will come into effect at the beginning of 2025.