(6 January 2026 – Belgium) Swift is launching a new scheme in 2026 delivering fast, predictable and transparent international payments for small businesses and consumers.
Developed in collaboration with over 40 banks including Mizuho, JPMorgan, BofA, Wells Fargo, BNP Paribas and Societe Generale, the Swift Payments Scheme will establish a set of enforceable rules that give customers greater certainty and peace of mind when sending funds abroad.
Participating financial institutions (FIs) will commit to upfront fee and FX transparency, full-value delivery, efficient last-mile processing and end-to-end transaction visibility, giving customers the confidence they expect from modern payments.
While 75 percent of transfers through Swift arrive at the destination bank within ten minutes, payments often take a day or more to process fully due to factors including procedural and time differences among FIs involved.
The move toward faster transactions comes amid the rise of Fintechs such as Wise that offer instant, low cost international transfers. Wise handled US$114 billion in payments in the six months through September.
“The new scheme will ensure that consumers and small businesses will experience fast and predictable international payments, whether sending money to family abroad or paying an overseas supplier” commented Swift Chief Business Officer, Thierry Chilosi.
Though no cap has been determined for instant payments, FIs are considering a limit of US$10,000 to help individuals and SMEs meet payment deadlines when transferring funds internationally or receiving money from overseas.