Key facts
- Bank of America is launching a cross-border real-time payments solution.
- The service will be available to corporate, commercial, and financial institution clients.
- Funds can be sent and received instantly via Swift or CashPro®.
- The launch is scheduled for next quarter.
- The solution is designed for high-volume, low-value transactions.
Bank of America is set to introduce a new global cross-border real-time payments solution in the upcoming quarter. This initiative aims to enhance payment capabilities for its corporate, commercial, and financial institution clients. The service is designed to facilitate the instant sending and receiving of funds, leveraging existing platforms such as Swift and Bank of America's own CashPro® system. The solution is particularly built to handle high-volume, low-value transactions, suggesting a focus on streamlining everyday business payments across international borders.