Ant International, StanChart, Swift Trial Cross-Border Bank-to-Wallet Payments

MT Newswires Live

08/28

Alibaba (HKG:9988) affiliate Ant International, Standard Chartered Bank (HKG:2888), and the Swift system have begun live trials of a bank-to-wallet payment solution designed to expand cross-border payment options, according to a Wednesday press release.

Initial transactions were completed between a Standard Chartered account and a partner e-wallet through Ant International's Alipay+ gateway, the statement said.

The initiative aims to connect Swift's network of more than 11,500 institutions across 200 markets with Alipay+'s 36 partner wallets, covering about 1.7 billion accounts, with an emphasis on Asian markets.

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