Bank of America to Launch Cross-Border Real-Time Payment Solution
Bank of America announced it will launch cross-border real-time payment services next quarter, aimed at providing corporate clients with more transparent and low-cost fund settlement solutions, especially suitable for cross-border e-commerce sellers' payment collection.
What are the key facts?
- 1Launch Date: Third Quarter of 2026
- 2Supported Channels: Swift or CashPro platform
- 3Target Scenarios: B2C e-commerce seller payments, gig economy settlements
What happened?
Bank of America plans to launch a cross-border real-time payment solution that allows businesses to carry out instant fund transfers via Swift or CashPro. The service aims to meet the demand for fast and transparent payments in the cross-border e-commerce and gig economy sectors, with significant growth projected in related payment flows by 2032.
What does this mean for cross-border sellers?
The speed of cross-border fund collection is expected to improve in the future; sellers should pay attention to how this service can potentially reduce cross-border settlement costs.