Citi Becomes First Bank to Launch Multi-Market Instant Payments on the Swift Payments Scheme

Leveraging established instant payment rails and mature ISO 20022 (MX) capabilities, Citi has enabled real-time payments through the Swift payments scheme in AUD via NPP (New Payments Platform), GBP via FPS (Faster Payment System), and INR via IMPS (Immediate Payment Service). Additionally, Citi has expanded its USD Clearing capabilities², allowing clients to transfer funds directly to Citi U.S. beneficiaries for faster, broader global access.

By leveraging Citi's industry-leading global network, mature MX-enabled capabilities, and seamless connectivity to the Swift payments scheme, Citi Services is enabling clients to bring new payment capabilities to market more quickly and simplify access to multiple payment markets.

Leigh Amaro, Chief Executive, Americas at Swift, said: "Industry collaboration is essential to delivering the faster, more transparent and more predictable cross-border payments experience consumers have come to expect. As usage of Swift's retail payments framework grows and more corridors become active, greater certainty over cost and delivery time, full-value transfers and end-to-end visibility into international payments will become a reality for more people and businesses around the world."

This launch builds on Citi Services' broader suite of real-time account-to-account payments solutions via WorldLink. The offering integrates cross-border instant payments and real-time wires to deliver rapid, efficient global fund movements. Through one relationship, clients gain direct connectivity to nine instant payment schemes and near real-time wires in 20 currencies and 54 markets. WorldLink offers payments in 135 currencies with integrated FX across over 4,500 currency pairs, in addition to account-to-account payments, clients can also pay into wallets and cards.