This adjustment is intended to facilitate seamless and efficient high-volume transactions for businesses. Traditionally, banks and money transfer services impose caps on the maximum amount that can be transferred. By removing these limits, SWiM PAY aims to support businesses in their global expansion efforts.
The platform is designed to handle both high-value and high-volume B2B transactions on a global scale. This makes it a suitable option for businesses that require large-scale international transfers. With some of the highest payment ceilings in the industry, SWiM PAY allows businesses to transfer significant sums instantly, bypassing the need for multiple transactions. This change is expected to reduce transaction fees and minimise potential delays.
The removal of transfer limits by SWiM PAY represents a shift in the international money transfer landscape. It offers businesses greater flexibility and the ability to conduct instant global transactions of any size without facing restrictions. This development aligns with SWiM PAY's objective of providing an efficient and user-friendly platform, enabling businesses to operate more effectively in the global market.
In essence, the decision to eliminate transfer limits reflects the company’s focus on addressing the needs of its users. This change allows businesses to easily manage high-volume and high-value transactions, which could potentially position SWiM PAY as a preferred platform for companies looking to expand their international operations.
In July 2024, SWiM PAY launched instant digital wallet-to-wallet payments for faster transactions and to eliminate SWIFT-related delays. With this new feature, transactions between buyers and sellers could now be completed instantly, eliminating the need for lengthy waiting periods and traditional payment methods.
In August 2024, SWiM PAY announced the launch of 49 wallet-to-wallet currencies, allowing clients to perform secure and efficient transactions worldwide. Following this announcement, SWiM PAY was expected to allow users and customers to make instant payments in multiple currencies. This feature eliminated the wait for traditional transfers, and also provided a convenient, secure, and efficient way for businesses and individuals to transact instantly around the world.
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