Planetary-scale payment ecosystems have emerged as critical infrastructures underpinning the global economy; yet, their governance remains fragmented across technological, political, and sociological domains. This article presents a comprehensive interdisciplinary analysis of the technological architectures, geopolitical dynamics, and governance frameworks shaping global payment systems. Drawing on a systematic synthesis of academic and policy literature published between 2015 and 2024, this study examines three interrelated dimensions: (1) the convergence of blockchain, artificial intelligence (AI), and quantum-safe cryptography as foundational technologies; (2) the power asymmetries and geopolitical contestations among multinational banks, technology firms, and states; and (3) the diverse strategies for digital sovereignty, including central bank digital currencies (CBDCs), export controls, and regional initiatives such as Gaia-X and the Digital Silk Road. The findings reveal persistent gaps in interdisciplinary integration and regional representation—particularly regarding Africa and South America—while highlighting emerging trends in AI-driven fraud detection, programmable compliance, and self-sovereign identity. This article contributes a synthetic framework for understanding global payment ecosystems as socio-technical systems and proposes future research directions for building inclusive, resilient, and accountable digital financial infrastructures.
Darwisman et al. (Fri,) studied this question.