[gora_mohanty]

Doesn't that exist already? Mobile payment gateways are available in many countries already. India's UPI, for example,had 18+ billion transactions in June 2025, and is entirely free. Yes, the government, and probably financial institutions, do track the transactions

[lmm]

> Doesn't that exist already? Mobile payment gateways are available in many countries already.

None of them work cross-border. And one suspects the US Government is working very hard to make sure they never do (look at the money laundering accusations against the Brazilian system for a recent example).

[Integer]

G20 Targets for Enhancing Cross-border Payments[1]:

“Reaffirm UN SDG: Global average cost of sending $200 remittance to be no more than 3% by 2030, with no corridors with costs higher than 5%” “75% of cross-border remittance payments in every corridor to provide availability of funds for the recipient within one hour of payment initiation and for the remainder of the market to be within one business day, by end-2027” “More than 90% of individuals (including those without bank accounts) who wish to send or receive a remittance payment to have access to a means of cross-border electronic remittance payment by end-2027”

[1] https://www.fsb.org/work-of-the-fsb/financial-innovation-and...

[lmm]

Fine words, now let's see if they live up to them.