New X-Border Payment Realities

 

With real-time domestic payments increasingly adopted in Asia Pacific and also Australia, will cross border real time service ride on this wave and become a reality? Can corporate treasurers now look at this development to significantly help with same day or even 24/7 settlements? If markets move to 24/7 clearing, will concept of ‘after hours’ totally disappear?

In a recent release SWIFT announced a joint effort with a group of gps banks from Australia, China, Singapore and Thailand to develop a x-border real time service in APAC region.  Australia’s NPP system will be linked to domestic real time system like FAST in Singapore.

Another cross-border transfer Fintech provider Transferwise has also gained traction in reports of now 4 million users and having a 75% increase in profits. This service along with similar challenger banks have disrupted money transfers.

Together with our 3 key panelists, we discuss the new cross-border payment realities, don’t miss this discussion.

 

Venkatesh Saga
Head of Banking – Asia Pacific | TransferWise | Singapore
Pete Kooner
Head of Product, Treasury Services – Australia & NZ | JP Morgan | Sydney
Michael Moon
Head of Payments Markets, Asia Pacific | SWIFT | Singapore

 

 

Additional reading
The 24/7 Treasury – How the acceleration of payments will affect business/treasury management

TransferWise Reports Second Year of Profit & Revenue Almost Doubling

SWIFT explores Asia Pacific cross-border real-time payments