PayPal Responds To FSB Consultation On Bank And Non-Bank Providers Offering Cross-Border Payment Services
This week, PayPal submitted a response to the Financial Stability Board (FSB) consultation on proposed policy recommendations to strengthen consistency in the regulation and supervision of banks and non-banks in the provision of cross-border payments. This is part of the FSB's priority actions to successfully address identified challenges as part of the G20 Roadmap.
In PayPal's response we welcome the FSB's ongoing focus on cross-border payments and encourage future recommendations to be based on the activity of cross-border payments, rather than the entity involved. We also share more specific recommendations such as the potential of eIDs to reduce cost and increase access.
View the response here. The response submitted by PayPal can also be found on the Financial Stability Board website.