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Almost out of 10 respondents cited a lack of consistency and standardization as a challenge by payment system providers when implementing APIs. This is according to a survey held among such providers over the course of 2021, specifically asking for strategies behind the adoption of such application programming interfaces. The source acknowledges that a lack of harmonization is considered a major challenge, not only from a domestic perspective but an international one as well. Cross-border payments, especially, are impacted by this as different local payment systems rely on different APIs - some of which are custom-made for that particular country, or some of which rely on older legacy technology. It is in this aspect where the industry hopes that ISO 20022 - a new messaging standard for payment systems and financial institutions across the world - might solve some of these issues.