Achieving Borderless Payments

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The inefficiency of cross border payments is well known and lags behind the improvements seen in domestic payments. This stifles global trade and particularly hurts small/medium enterprises who are the engine room of economic growth. The value of cross border payments is estimated to increase from $150 trillion in 2017 to $250 trillion by 2027. The World Bank monitors the global average cost of sending a $200 international payment which in June 2022 stood at 6.01% and has targeted halving this to 3% by 2030. The G20 Roadmap sets out steps to enhance cross border payments which should help to meet this and other targets. However, this needs to be implemented while not relaxing vigilance on money laundering, KYC, and the appropriate and accurate exchange of data. The P20 report contains specific best practice actions to move towards borderless payments. But this can only be achieved through collaboration between governments, regulators and industry. Towards Borderless Payments: Best Practice Recommendations can be downloaded here.


Elena Whisler is Senior Vice President of Sales and Relationship Management at The Clearing House. Elena is currently responsible for overseeing the customer relationship, sales and marketing teams to manage and expand its client base across The Clearing House’s core payments products (RTP® network, CHIPS, ACH and check image exchange). Current priorities include growing the RTP network across the US financial system participants and evolving the customer engagement model for all TCH Products. Prior to joining The Clearing House, she held regional and global product management positions at FIS, Clear2Pay and Fiserv as well as working at the Federal Reserve Bank within the Retail Product Office and Monetary Policy Divisions working on cross-border activities and economic policy in Latin America. Elena also serves on multiple industry councils such as the P20 Board, the Women in Payments Advisory Board as well as the Girls on the Run Central Ohio Board.

Monday, 05 June 2023

15:00 - 15:45 BST


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  • Elena Whisler Headshot
    Elena Whisler
    Senior Vice President
    The Clearing House
  • Mike 3 (2)-min.jpg
    Mike Wardle
    CEO & Head of Indices
    Z/Yen Group