Major Banks Partner with Swift to Tackle ‘Last Mile’ Delays in Cross-Border Payments - Fintech Singapore

Swift Introduces New Global Retail Payments Rules - The Leaders Globe Media

Swift has announced a new initiative to standardise and accelerate cross-border retail payments worldwide. Working with more than 30 early-adopter banks across 17 countries, the messaging network plans to roll out a new set of rules that offer retail customers greater transparency, consistency and speed in sending money abroad. The rules will require upfront disclosure of costs and foreign-exchange rates, guarantee full-value delivery, ensure en…

Major Banks Partner with Swift to Tackle ‘Last Mile’ Delays in Cross-Border Payments - Fintech Singapore

More than 30 global banks are teaming up with Swift to end hidden fees and slow transfers, setting new rules for retail cross-border payments. Swift said it will launch a new scheme to make international transfers faster, more predictable and transparent for consumers and small businesses. Participating banks will provide upfront disclosure of fees, full-value transfers without hidden charges, end-to-end visibility and instant settlement where l…