Using tighter service level agreements between institutions and pre-validation of data, Swift Go enables banks to provide their end customers a fast and predictable payments experience with upfront visibility on processing times and costs. Stephen Gilderdale, chief product officer, at Swift, says: “Swift Go is a direct response to the needs of small businesses and consumers for fast, easy, predictable, secure and competitively priced cross-border payments. Our new service will allow banks to compete effectively in one of the fastest growing segments of the payments market, delivering a seamless experience for their customers.” Swift is promising competitive pricing, with processing fees agreed between financial institutions upfront in order to provide customers with full transparency on costs.

https://www.finextra.com/newsarticle/38536/swift-takes-on-low-value-cross-border-payments