RBA Update February 2026

The Importance of Streamlined Cross-Border Payments

Reliable, secure, and cost-effective methods for transferring funds internationally are essential for supporting global commerce, economic growth, and expanding access to financial services. However, compared to domestic transactions, sending and receiving money across borders is often less convenient and more challenging for users.

International payments are inherently more complicated than local ones, as they require moving funds between different countries, each with its own currency, banking hours, payment infrastructures, and legal regulations. Enhancing the experience for users of cross-border payment systems calls for collaborative efforts among nations to address these complexities.