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The application of non-Latin language data in traditional cross-border payments : A discussion

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  • Zhang, Yi

    (Bank of China, China)

Abstract

During the rapid development of globalisation observed over the last few decades, the English language has emerged as the default language for the communication of cross-border payments. Concurrently, the Latinisation of communication has resolved most of the problems related to the use of non-Latin languages. However, with the G20 cross-border payment roadmap promoting connectivity with local payment systems, this paper suggests that supporting the use of non- Latin language data in certain scenarios and transaction channels could improve the efficiency of cross-border payments and help enhance financial inclusion. This paper examines the use of language data in cross-border payments, reflects on how cross-border payments might support non-Latin language data, and makes relevant suggestions.

Suggested Citation

  • Zhang, Yi, 2024. "The application of non-Latin language data in traditional cross-border payments : A discussion," Journal of Payments Strategy & Systems, Henry Stewart Publications, vol. 18(3), pages 276-281, September.
    • Handle: RePEc:aza:jpss00:y:2024:v:18:i:3:p:276-281
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    More about this item

    Keywords

    cross-border payment; non-Latin language data;

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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