{"id":3243,"date":"2026-03-27T14:05:15","date_gmt":"2026-03-27T11:05:15","guid":{"rendered":"https:\/\/resources.today\/en\/?p=3243"},"modified":"2026-03-27T14:05:43","modified_gmt":"2026-03-27T11:05:43","slug":"14faor425","status":"publish","type":"post","link":"https:\/\/resources.today\/en\/14faor425.html","title":{"rendered":"International payment systems and cross-border money transfers in the digital age"},"content":{"rendered":"<p style=\"text-align: right;\"><strong>Pankov Daniil Andreevich<\/strong><br \/>\nFinancial University under the Government of the Russian Federation, Moscow, Russia<br \/>\nE-mail: pankov-online@yandex.ru<\/p>\n<p style=\"text-align: justify;\"><strong>Abstract.<\/strong> This study analyzes the transformation of international payment systems and the principles of cross-border money transfers in the context of the digitalization of global financial employment, sanctions pressure, and geopolitical fragmentation. Evolving models for organizing cross-border payments are examined, including the traditional SWIFT system, alternative payment platforms for financial transfers, central bank digital currencies, and cryptocurrency solutions. The dynamics of the global payment services market, which has reached $3,12 trillion and is projected to grow to $5,34 trillion by 2030, are analyzed, demonstrating an average growth rate of over 11 percent. The impact of sanctions restrictions on the development of regional payment ecosystems is being explored. As a result, the Russian SPFS is studying over 580 participating organizations, China&#8217;s CIPS facilitates yuan transfers for over 100 jurisdictions, and mBridge platforms are attracting central banks for cross-border transactions with digital currencies. It has been established that 81 of 86 central banks, representing jurisdictions with 94 percent of Russia&#8217;s GDP, are developing digital currency projects that will change the settlement architecture of international organizations. According to estimates, the share of non-cash payments in Russian retail turnover amounted to 85,3 percent in the first nine months of 2024, reflecting the overall trend of declining cash use. A conceptual regulator model is being developed that demonstrates the interrelationship between technological and geopolitical factors that determine the development trajectory of international payment systems in a polycentric world order. The scientific novelty lies in systematizing the trends in adapting global payment practices to sanctions restrictions and identifying patterns in the formation of parallel payment systems. This practical aspect informs the development of international payment strategies for corporate entities and financial institutions in a fragmented global financial system.<\/p>\n<p style=\"text-align: justify;\"><strong>Keywords:<\/strong> international payment systems; cross-border money transfers; SWIFT; SPFS; central bank digital currencies; CBDCs; fintech; blockchain; cryptocurrencies; financial infrastructure; UnionPay; CIPS; sanctions restrictions; digitalization of payments<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pankov Daniil Andreevich Financial University under the Government of the Russian Federation, Moscow, Russia E-mail: pankov-online@yandex.ru Abstract. This study analyzes the transformation of international payment systems and the principles of cross-border money transfers in the context of the digitalization of &hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[47,5],"tags":[],"class_list":["post-3243","post","type-post","status-publish","format-standard","hentry","category-issue-s4-2025","category-article"],"_links":{"self":[{"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/posts\/3243","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/comments?post=3243"}],"version-history":[{"count":1,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/posts\/3243\/revisions"}],"predecessor-version":[{"id":3244,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/posts\/3243\/revisions\/3244"}],"wp:attachment":[{"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/media?parent=3243"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/categories?post=3243"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/resources.today\/en\/wp-json\/wp\/v2\/tags?post=3243"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}