In 2020, the G20 launched a Roadmap to make cross-border payments faster, cheaper, and more transparent and inclusive. To give ambition and accountability to the Roadmap’s goals, in 2021, the G20 endorsed a set of global quantitative targets, most of which are set for end-2027. To more effectively monitor progress, the annual progress report has been combined with the report on key performance indicators (KPIs).
Over the past year, several milestones have been achieved, marking the end of the major policy development initiatives. However, these efforts have not yet translated into tangible improvements for end-users at the global level. The KPIs for 2025 show only a slight improvement at the global level since the KPIs were first calculated in 2023. It is unlikely that satisfactory improvements at the global level will be achieved in line with the 2027 Roadmap timetable.
At the global level, the KPIs indicate that access to cross-border payments remain broad and the global speed of wholesale cross-border payments has improved, possibly laying the foundation for faster retail payments and remittances in the future. The speed of remittances has also improved globally, which means those end-users relying on financial support from family members abroad are receiving payments more quickly. However, the average global cost of such payments remains sticky, although some improvements have been made in the most expensive regions.Therewas slight improvement in transparency of information to end-users in some areas, but current quantitative data remains insufficient to form a complete picture. Over the coming year, the FSB and other partner organisations will focus on enhancing monitoring and supporting implementation of the international policies that have been agreed under the G20 Roadmap.