Monday, 12 October 2020 08:45

Swift Establishes Small Cross-Border Remittance Program with Two Chinese Banks

On October 9th, Swift launched a pilot “Small Cross-border Remittance” program to provide cross-border remittance services for small and medium-sized enterprises and individual users. Fourteen banking institutions from around the world have so far participated in the project, including Bank of China and Ant Group backed MYBank. Remittance procedures under the program have been designed to be more convenient, and remittance fees will be greatly reduced. In addition, the cross-border remittance networks will be more efficient, with payments received in seconds.

Want to learn more?

Reach out to us today to learn more about how China Fintech can help you understand and navigate China's fintech industry.
[email protected]