Biggest obstacle: regulatory fragmentation and data-privacy constraints across jurisdictions, creating a patchwork rather than a global VoP. Regulators should push a harmonized, privacy‑by‑design framework with shared KYC/AML baselines, data minimization, consent, and cross‑border data rules. Industry players must embrace open governance, interoperable digital identity, standardized data schemas, and independent audits, with SWIFT as backbone. #VoP #VerifiedPay #Sibos2025