Ant International, Swift, and Standard Chartered have partnered up to trial a new bank-to-wallet payment solution. Initial production trials have demonstrated successful transactions between a Standard Chartered customer account and a partner e-wallet through Alipay+, the cross-border digital payments service operated by Ant International.
The solution utilises ISO 20022 financial messaging standards and leverages Swift’s global payments infrastructure. Swift’s network of over 11,500 financial institutions across more than 200 countries and territories enables the solution to connect to around 1.7 billion user accounts on the 36 global digital wallets within the Alipay+ ecosystem.
This development builds upon existing collaboration initiatives between the organisations. Recently, Ant International and Standard Chartered announced a partnership to enhance foreign exchange and treasury management capabilities by combining their Falcon and SCALE services into a new FX management solution.
In addition, the Chinese fintech company established a partnership with BNP Paribas last year to strengthen the French banking group’s cross-border payment capabilities for its European merchants and consumers. Through this collaboration, BNP Paribas engaged Alipay+ services and began exploring tokenised deposit technologies for global treasury management.
Source: https://www.fintechfutures.com/
