Many central banks and market participants are exploring how to use and link national payment systems to improve and streamline cross-border payments. This applies in particular to instant payment systems. The aim is to reduce costs, speed up payments and increase the possibility of cross-border payments. An example of such work is Project Nexus, developed by the Bank for International Settlements (BIS). Project Nexus creates a platform that simplifies interconnection between payment systems, reduces costs and enables cross-border payments within 60 seconds. Another initiative is the European Payments Initiative (EPI), which in 2024 launched the Swish-like service Wero. The ambition is to create a pan-European payment solution for instant payments between individuals in the euro area. In the Nordics, Vipps MobilePay enables payments between some of the Nordic countries via mobile phones, while the ECB's TIPS platform is being developed to offer instant payments in euro and other currencies, read more in the chapter Are payments in Sweden efficient?.