CROSS-BORDER RETAIL PAYMENTS Box 3 While a number of formalised payment systems for large-value cross-border ... Both aspects entail a considerable degree of manual processing of the payments, which is expensive. ... have been launched and that the European Commission has already promoted a certain level of harmonisation by a directive. ... Debit transfers are payments at the request of the payment recipient (such as cheques and credit cards). function smoothlyanbsp;...