Research Proposal

Foreign Exchange International Payments


The key developments and shifts in the US Cross-border payments (a.k.a Foreign Exchange International Payments) category, including disruption & innovation in the space, customer expectations, winners, and losers.

Early Findings

New Technologies

  • The US cross border payments space is seeing an increased use of advanced technologies like blockchain, artificial intelligence, and machine learning.
  • Recent developments in these technologies have "made more solutions possible without causing slowdowns."
  • With its automatic public ledger for transactions, Blockchain opens up a myriad of paths for cross-border payments in the US. Visa and MasterCard are a few companies that have been vocal about "pushing the bar for the adoption of distributed ledgers powered by blockchain to replace their traditional networks."
  • Both companies already leverage blockchain-based distributed ledgers in cross-border settlements. In 2020 and beyond, blockchain is forecast to have a more significant in the crossborder payments space.

Faster US Payments System

  • In 2019, the US Federal Reserve unveiled plans to release a real-time payment and settlement service that will support faster payments across the US.
  • This real-time domestic payments scheme is driving banks to extend inter-bank processing hours. Fintech firms are upgrading their systems to allow real-time processing, with some even incorporating 24/7 processing capabilities.


  • Within the initial hour of research, we were able to provide some developments and changes in the US cross border payments space.
  • Of note, there was a lot more information on cross border payments in other countries/regions than the US. As described by one publication, the US is lagging behind regions like Europe in relation to cross border payments. We found that the US cross border payments space is facing some challenges.
Prepared By
Hillary O.
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