Payments market harmonisation
 
As part of the main conference agenda, Marion King, CEO at VocaLink presented on the topic payments market harmonisation on Thursday 17 September.
 
Synopsis:

Dramatic changes in market conditions have highlighted the inherent risks in cross-border transactions and reminded us of the urgency to further harmonise markets, emerging markets included. Stable, integrated payment systems are a necessary precursor to such harmonisation.

This session discusses the challenges of regional harmonisation initiatives in the light of lessons learned in the recent past. Is payments harmonisation just a first step? What role should central banks or regulators play? What are the legal and regulatory hurdles? Where should one start: Standardise the infrastructure, combine currencies, harmonise laws and regulations? Could new approaches and technologies allow emerging markets to leapfrog the developed markets in dealing with these challenges?.