Swift recently wrote about the countdown to the G20 goals for cross-border payments in 2027. At Movitz, we think these goals are important, not because they sound good in an industry presentation, but because they address the things customers actually care about:
Speed, cost and transparency.
A payment is not “fast” just because it reaches the beneficiary bank quickly. For the customer, it is fast when the beneficiary has the money — and when the sender can see what is happening along the way.
The same goes for cost. Customers do not like surprises. If fees, FX spreads or deductions appear somewhere in the chain, the bank needs to be able to explain them clearly. Otherwise, transparency becomes a support case.
This connects directly to what I wrote in my earlier posts about the squeezed Product Manager: Operations asking where the payment is, Sales asking why payments are expensive, and new competitors winning customers by showing fees, FX rates and expected delivery times more clearly.
The G20 goals are ambitious, but they are also very practical. Better visibility, clearer cost information and fewer avoidable investigations are good for customers — and good for banks.
At Movitz, we believe cross-border payments should be easier to understand, easier to explain and easier to trust.
Because the customer’s questions are usually very simple:
Where is my money? What did it cost? And when will it arrive?
Read Swift’s full release here:
https://www.swift.com/news-events/perspectives/countdown-2027-contributing-lasting-progress-against-g20-goals
If you want to talk about The Scheme in particular or user experience in general, feel free to reach out!