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HSBC introduces SWIFT Payment Pre-validation

Wednesday 13 October 2021 13:19 CET | News

HSBC has announced the introduction of SWIFT Payment Pre-validation to its services.

SWIFT Payment Pre-validation uses an Application Programming Interface (API) to check beneficiary account details with banks ahead of payments being made, ensuring customers can make payments with greater confidence. HSBC has initially introduced SWIFT Payment Pre-validation to inbound payments in the UAE, for both retail and business customers.

The introduction of SWIFT Payment Pre-validation follows on from an enhancement to HSBC’s business banking platform, HSBCnet, which enables pre-validation of international payments made to HSBC UK beneficiaries.

In the coming months, HSBC will be expanding SWIFT Payment Pre-validation to other markets and giving business customers the ability to pre-validate payments made to other participant banks.  

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Keywords: HSBC, SWIFT, API, banks
Categories: Banking & Fintech | Online Payments
Countries: World
This article is part of category

Banking & Fintech