Bank of America to Launch Cross-Border Real-Time Payments Solution
Bank of America plans to launch a cross-border real-time payments solution next quarter, supporting Swift or CashPro platforms, aiming to provide more transparent, quicker, and cost-effective funding settlement services for e-commerce platform sellers and businesses.
What are the key facts?
- 1Launch Time: Next quarter
- 2Key Features: Real-time payment tracking, full amount arrival, reduced costs
- 3Supported Scenarios: E-commerce platform seller payments, cross-border remittances
What happened?
Bank of America announced it will launch a cross-border real-time payment solution supporting high-frequency, small-amount cross-border transactions, including payments for e-commerce platform sellers, providing real-time tracking and full amount arrival features to meet the growing global payment needs.
What does this mean for cross-border sellers?
Cross-border sellers will soon have more efficient options for fund recovery, helping to improve cash flow efficiency and reduce cross-border payment fees.