Swift provdes cross-border gateway to Bizum, PayID and Pix users

Swift is bridging the gap between national instant payment systems like Brazil’s Pix and Spain’s Bizum to enable seamless international transactions. For retailers and service providers, this signals a shift toward 'pay-by-alias' functionality on a global scale. Instead of requiring complex international bank details or IBANs, customers will eventually be able to settle cross-border payments using just a mobile number or email address. This initiative aims to eliminate the friction that often kills international sales. While domestic instant payments have exploded in popularity, cross-border versions have historically been slow and expensive. By connecting these local 'walled gardens' through a central gateway, Swift is making it easier for merchants to accept instant, verified payments from international customers without the overhead of traditional wire transfers. For businesses in high-ticket sectors like furniture or medical tourism, this could significantly lower the barrier for foreign clientele to pay for goods and services securely and instantly.

Source: Finextra — Lending

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