[toomuchtodo]

I don't hand wave away this use case, but it is a much smaller amount of volume compared to domestic payments. As instant payment services sponsored by central banks roll out, the hurdles become lower for cross currency/international transactions. TransferWise already does a swank job interfacing with antiquated financial infra for cross border transfers and payments, I imagine that you'll see more competitors and possibly even native integration with central bank apps for cross border payments as improvements continue. It's all messages (ISO 20022) on a bus or in queues after all.

[HeadsUpHigh]

My country is heavily pushing for this kind of payment system. Given how bad android security and patching is I wouldn't trust anything involving my phone.

[antihero]

So will this mean we go from having a fairly standard international payment system with two main players (Visa/Mastercard) where anyone from any country can pay for things in pretty much any other country, the same, way, to a situation where every country has it's own (perhaps cheaper) system. How does that work for tourism?

[toomuchtodo]

I assume the traditional cross border payments will stick around until better systems using new instant payment primitives are built. I would not anticipate these user experiences to get worse, only better.