According to the paper, cross-border payments may become more faster and more transparent with the integration of rapid payment systems, which would be advantageous for both service providers and end users. Well-designed governance, scheme rules, and payments processing capabilities—which aid in risk management and guarantee a smooth cross-border payments experience—are essential to realizing these benefits. Establishing an interlinking arrangement, however, is not without its difficulties. These include resolving discrepancies in the legal and regulatory frameworks of participating states and reaching a consensus on governance structures and scheme guidelines.

International attention is being paid to connecting national fast payment systems as a potential means of enhancing cross-border payment experiences.The RBA recently worked with several Australian industry participants involved in cross-border payments to examine the interlinking of rapid payment systems in light of these developments and Australia's commitment to improving cross-border payments.

The paper promotes additional examination of important design considerations and adds to the global conversation on the subject. Future conversations in Australia regarding the possibility of connecting Australia's fast payment system, the New Payments Platform (NPP), to international fast payment systems will benefit from the knowledge gathered from this effort.

"In a globalized world, cross-border payments are essential. More work is required to make them more affordable, transparent, and quick.This work represents a significant advancement in our knowledge of how rapid payment systems may be linked to spur advancements in various domains. Brad Jones, Assistant Governor (Financial System) at the RBA, stated, "The RBA will keep interacting with business, public sector organizations, and foreign partners to investigate these and further options for the Australian financial system to provide a better cross-border payments experience.