Swift and Its Community Innovate to Bring Ease of Domestic Consumer Payments to Cross-border Transaction Experience

BRUSSELS, Sept 29 (Bernama) -- Swift and its global community are taking another step towards making international payments as seamless as domestic ones.

Today, millions of consumers use systems such as Bizum, PayID from AP+, and Pix to send money quickly and easily within their own markets without needing to know the recipient’s account details. Swift is bringing these systems together with banks, payment service providers and technology providers from four continents to pursue that same intuitive experience across borders. The approach will enable familiar identifiers that are already captured in domestic systems—like mobile phone numbers, email and virtual payment addresses—to be securely matched for international transactions over Swift.