Bank of America to Launch Cross-Border Real-Time Payment Solutions
Bank of America announced it will launch cross-border real-time payment services in the next quarter, aiming to provide quicker, more transparent funding settlement solutions for businesses and e-commerce platforms, supporting high-frequency, small-value cross-border transactions.
What are the key facts?
- 1Launch time: Next quarter
- 2Supported channels: Swift, CashPro
- 3Target scenarios: B2C, P2P, e-commerce seller payments
What happened?
Bank of America plans to offer cross-border real-time payments through Swift and CashPro platforms, focusing on addressing high-frequency, small-value scenarios such as e-commerce seller collections and gig economy payments, aiming to reduce costs and achieve real-time tracking and full settlement of funds.
What does this mean for cross-border sellers?
Cross-border sellers will benefit from more efficient cash flow management channels, helping to optimize their cash flow and reduce cross-border settlement costs in the future.