Bank of America to Launch Cross-Border Real-Time Payments Service
Bank of America plans to launch a cross-border real-time payments solution next quarter, supporting instant fund settlements via the Swift or CashPro platforms, aimed at reducing cross-border transaction costs and increasing transparency.
What are the key facts?
- 1Launch time: Next quarter
- 2Function: Cross-border real-time payment and tracking
- 3Applicable scenarios: E-commerce platform seller settlements, cross-border remittances
What happened?
Bank of America announces it will launch a cross-border real-time payment service, supporting instant cross-border funds transfers for corporate clients, optimized particularly for high-frequency low-value scenarios like e-commerce platform settlements.
What does this mean for cross-border sellers?
The speed of cross-border fund recovery is expected to accelerate; sellers should pay attention to updates on banking payment tools to optimize cash flow management.