The International Payments Framework (IPF) is a multi-national effort that establishes a membership organisation providing rules, standards, operating procedures and guidelines to improve cross-border payments through a multilateral binding agreement. IPF enables interoperability between existing domestic or regional payment systems, the ability to exchange transactions in multiple currencies, and settlement leveraging existing practices.
Today the International Payments Framework Group (IPF) has sent out a press release in which the Group announced the decision to go forward with the next phase. IPF has asked Equens to participate in phase II. For Equens this is an important next step with regard to interoperability. This initiative demonstrates that we are not only looking for interoperability solutions within, but also beyond Europe.