Banks to roll out framework for cross-border retail transactions: Swift
Payments, including remittances, across Australia, Bangladesh, Canada, China, Germany, India, Pakistan, Spain, Thailand, the UK and the US, will come with certainty of cost, end-to-end traceability, and faster speeds, with over 25 banks go live by the end of June.
Consumers and small businesses receiving payments in a range of countries, including five of the world’s largest remittance markets, will be among the first to benefit as Swift and banks globally roll out a new framework to bring next generation speed and new levels of affordability and predictability to cross-border retail payments.
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