NewsJuly 2, 20261 min read
FPSRTGSACHHybridASIA_PACEUROPEAMERICASIndiaUnited KingdomAustralia
SWIFT Payments Scheme Goes Live with 25 Banks Across 11 Cross-Border Corridors
SWIFT activated its consumer cross-border payments framework at the end of June 2026, with more than 25 banks processing live transactions across corridors linking 11 countries including five of the world's ten largest remittance markets.
Over 50 banks have signed up to the scheme, which covers corridors linking Australia, Bangladesh, Canada, China, Germany, India, Pakistan, Spain, Thailand, the United Kingdom, and the United States.
Participating institutions commit to upfront fee and foreign exchange rate transparency, full-value delivery with no hidden deductions, and near-instant crediting at the receiving end.
SWIFT will activate additional corridors by the end of 2026 as the framework expands beyond the initial 11 markets.
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