The Financial Stability Board (FSB) has warned that the G20 is unlikely to meet its ambitious 2027 targets for faster and cheaper cross-border payments. In its follow-up report published on 9 October 2025, the FSB notes only marginal improvements since 2023, with average transaction speeds and costs failing to approach the agreed benchmarks. The global target—set by the G20 in 2021—was that at least 75% of wholesale and retail international payments should be credited within an hour, and that the average cost of a retail payment should be reduced to no more than 1%. However, recent data shows that transaction speeds remain significantly below this level, and the average cost of cross-border payments remains much higher, particularly in sub-Saharan Africa where fees are around 4%, the highest globally.
FSB Deputy Secretary General Martin Moloney told Reuters, “It’s becoming clear that the (G20) targets are not going to be hit by 2027.” He added that, “That needs to be a rich and focused debate at G20 level.” The FSB progress review highlights that most delays and costs stem from infrastructure limitations, including a lack of 24/7 settlement and expensive ‘first and last legs’—the process of moving money in and out of international payment channels. Despite increased interest in digital assets such as cryptocurrencies and stablecoins for cross-border payments, the FSB report states, “I haven’t seen anything persuasive (with regards to stablecoins) to suggest they would solve those issues.”
The next step for the G20 is to determine whether the 2027 deadline should be extended or replaced, as several key performance indicators (KPIs) will not be achieved at the current pace. Moloney cautioned, “If we fall short of those KPIs we will still have an unsatisfactory situation.”
- 2027 G20 Targets: 75% of cross-border payments within one hour; average cost ≤1%.
- Current Status: Only slight improvement since 2023; costs highest in sub-Saharan Africa (4%).
- Main Barriers: Technological hurdles, lack of 24/7 infrastructure, high first/last leg costs.
- Digital Assets: Stablecoins and cryptocurrencies not yet solving core issues.
| Target | Status | Barrier |
|---|---|---|
| 75% payments within 1 hour | Not achieved | Infrastructure mismatch |
| Average cost ≤1% | Not achieved (~4% in some regions) | High entry/exit fees |
For UK casino players seeking more efficient transactions, it remains important to choose fast and reliable withdrawal methods. For further insight into secure and rapid casino payments, visit our guides on fast payouts, using e-wallets in the UK, bank transfer withdrawals, Apple Pay for casino withdrawals, and common issues with casino withdrawals.
Source: Reuters – G20’s cross-border payments push set to miss 2027 target
