Swift is moving into low-value cross-border payments with Swift Go.
In Brief:
Swift Go will enable consumers and small businesses to send real time payments.
Seven global banks are already live with the service.
These include BBVA, Bank of New York Mellon, DNB, MYBank, Sberbank, Société Générale and UniCredit.
What does this mean?
Swift Go will focus on low-value remittances to bank accounts around the world, with the aim of providing competitive pricing and processing fees agreed upfront.
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