Which of the following is crucial for achieving interoperability in payment systems?

Achieving interoperability in payment systems relies heavily on mutual agreements between networks. These agreements ensure that different payment systems can communicate and work together effectively. Without such agreements, disparate systems could operate in silos, making it difficult for users to conduct transactions across platforms.

These agreements can manifest in various forms, such as protocols, standards, and shared practices, which facilitate the seamless exchange of information and transactions between different payment systems. For instance, when networks agree on specific technical standards, they can process transactions from one system to another without issues, thereby enhancing the overall efficiency and acceptance of digital payments.

In contrast, standardized programming languages, while useful for development and integration, do not directly influence the operational relationships between networks. High transaction fees tend to act as barriers rather than facilitators of interoperability, and exclusive partnerships generally restrict access rather than promote wider participation in payment infrastructures. Thus, the essence of interoperability lies in the collaborative agreements established between different networks.