Ant International, Standard Chartered and Swift Collaborate to Pioneer Bank-to-Wallet Payment Solution Backed by ISO 20022

Supported by Swift’s trusted infrastructure, Ant International, a leading global digital payment, digitisation and financial technology provider, and Standard Chartered Bank have launched live production trials for a bank-to-wallet payment solution using the ISO 20022 financial messaging standards. Through Alipay+, the global wallet gateway service under Ant International, the first transactions were completed successfully between a Standard Chartered Bank customer account and a partner e-wallet.

Through simplifying global money transfers, the innovative solution leverages the Swift network of over 11,500 financial institutions in more than 200 countries and territories to connect to 1.7 billion user accounts on the 36 global digital wallets in the Alipay+ ecosystem, especially across fast-growing Asian markets.

Michael Spiegel, Global Head of Transaction Banking, Standard Chartered said: “We are pleased to be the bank of choice to conceptualise, test and deliver this innovation. It is testament to the versatility of our banking platform and our strategic relationship with both Swift and Ant International. We will continue to push the boundaries of finance to shape the future of our industry, securely and in compliance with regulatory requirements.”

Kevin Wong, Chief Executive, Asia Pacific, at Swift, said: “In a world of fast-moving innovation with a growing number of ways to move value, consumers and businesses expect more choice and optionality in their international payments experience. Swift is at the forefront of providing a best-in class experience with greater flexibility and choice. This collaboration with Ant International and Standard Chartered reflects that strategic commitment to faster, frictionless payments across multiple networks. “

“We are very excited to be part of this ground-breaking multilateral collaboration with Swift, banking leaders and Alipay+ e-wallet partners to facilitate bank-to-wallet transactions on a global scale,” said Jacques Xu, General Manager of Global Remittance, Ant International. “Ant International will continue to support such cross-sector collaboration with fintech innovations, to build a more connected payment and financial ecosystem for businesses and consumers with ever higher standards of transparency and security, as part of our focus on promoting global interoperability and inclusion.”