Piero Cipollone: The Italian G20 presidency and the cross-border payments agenda

Speech by Mr Piero Cipollone, Deputy Governor of the Bank of Italy, at the BIS - Committee on Payments and Market Infrastructures Conference "Pushing the frontiers of payments: toward faster, cheaper, more transparent and more inclusive cross-border payments", online, 19 March 2021.

The views expressed in this speech are those of the speaker and not the view of the BIS.

I would like to thank the Committee on Payments and Market Infrastructures (CPMI) for inviting me to join this conference on 'Pushing the frontiers of payments'. The Italian Presidency of the G20 greatly values the CPMI's commitment to moving the G20 roadmap forward on cross-border payments. The breadth of topics and speakers at this conference proves that progress in international payments architecture can only come from the wide-ranging and collective endeavour of private sector participants, public authorities and academics.

The Italian G20 Presidency calls on world leaders to safeguard the 'three Ps' – People, Planet and Prosperity.

'People' represents the view that we have to tackle inequalities and promote equal opportunities, because no one should be left behind.

'Planet' underlines the idea that it is no longer possible to ignore the risks our planet is facing, and that we have to make an effort to achieve a safe balance between people and nature.

'Prosperity' means pursuing economic well-being and a better quality of life, which implies making new technologies and the digital transformation an opportunity for all.