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Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice

PR Newswire | 04. Juni 2026, 09:35

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LONDON and NEW YORK and MEXICO and SINGAPORE, June 4, 2026

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LONDON and NEW YORK and MEXICO and SINGAPORE, June 4, 2026 /PRNewswire/ -- Bank of America today announced plans to launch a cross-border real-time payments solution that will enable its corporate, commercial and financial institution clients to send and receive funds instantly through Swift or the bank's flagship digital platform, CashPro^®. The service will offer real‑time payment tracking, full-principal preservation and lower costs.

&lt;/p&gt; &lt;/div&gt; &lt;p&gt;The service is expected to launch next quarter and will support high&#x2011;volume, low&#x2011;value international payments. Designed to address rising demand for faster and more transparent global payments, the new capability will support use cases such as international remittances, gig&#x2011;worker payouts, and e&#x2011;commerce marketplace vendor payments, among others. These P2P and B2C payment flows are expected to increase by 58% and 131%, respectively, by 2032.&lt;sup&gt;1&lt;/sup&gt;&lt;/p&gt;&lt;p&gt;&lt;i&gt;&quot;Around the world, policymakers and financial institutions share a common goal: making cross&lt;/i&gt;&lt;i&gt;&#x2011;&lt;/i&gt;&lt;i&gt;border payments faster, more transparent, more affordable, and more accessible,&quot;&lt;/i&gt; said &lt;b&gt;Mark Monaco, head of Global Payments Solutions (&lt;/b&gt;&lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=297617718&amp;u=https%3A%2F%2Fbusiness.bofa.com%2Fen-us%2Fcontent%2Fglobal-financial-transaction-services.html&amp;a=GPS&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;&lt;b&gt;GPS&lt;/b&gt;&lt;/a&gt;&lt;b&gt;) at Bank of America&lt;/b&gt;. &lt;i&gt;&quot;This new capability directly supports the G20 payment objectives while giving our clients a scalable, reliable way to move money globally&mdash;without adding operational complexity.&quot;&lt;/i&gt;&lt;/p&gt;&lt;p&gt;&lt;b&gt;Solution leverages existing real-time networks&lt;br /&gt;&lt;/b&gt;The offering will connect to several real&#x2011;time payment networks, including SPEI in Mexico, the Faster Payments Service in the United Kingdom, and Unified Payments Interface in India. Clients will also be able to receive inbound real&#x2011;time payments into the United States, where Bank of America serves approximately 70 million consumer and small-business clients. Funds will be delivered to beneficiaries in local currency, supporting improved certainty and usability.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Seamless connectivity&lt;br /&gt;&lt;/b&gt;Corporate and financial institution clients will be able to access the service via Swift or their existing CashPro connectivity, whether through application programming interfaces (APIs) or host&#x2011;to&#x2011;host channels. This approach minimizes technical overhead while enabling rapid adoption across client segments.&lt;/p&gt;&lt;p&gt;Additional benefits include:&lt;/p&gt;&lt;ul type=&quot;disc&quot;&gt;&lt;li&gt;&lt;b&gt;Payment tracking:&lt;/b&gt; Real&#x2011;time status visibility and confirmation once funds are credited.&lt;/li&gt;&lt;li&gt;&lt;b&gt;Principal preservation:&lt;/b&gt; No lifting fees or deductions&mdash;the full payment amount reaches the beneficiary.&lt;/li&gt;&lt;li&gt;&lt;b&gt;Reduced returns:&lt;/b&gt; Pre&#x2011;validation of recipient account information to help minimize failed payments.&lt;/li&gt;&lt;li&gt;&lt;b&gt;Precision timing:&lt;/b&gt; Payments can be initiated at any time, with funds typically delivered within seconds or minutes.&lt;/li&gt;&lt;/ul&gt;&lt;p&gt;&lt;i&gt;&quot;We designed this solution with simplicity, trust, and scale in mind,&quot;&lt;/i&gt; said &lt;b&gt;Daniel Stanton, Payments Product Head in GPS at Bank of America&lt;/b&gt;. &lt;i&gt;&quot;By combining established payment rails with real&lt;/i&gt;&lt;i&gt;&#x2011;&lt;/i&gt;&lt;i&gt;time capabilities and seamless integration, we&#39;re giving clients a practical new option for global payments.&quot;&lt;/i&gt;&lt;/p&gt;&lt;p&gt;&lt;b&gt;Frequently asked questions&lt;/b&gt;&lt;/p&gt;&lt;p&gt;&lt;b&gt;Question: How does Bank of America&#39;s new solution differ from traditional cross&#x2011;border payments?&lt;br /&gt;&lt;/b&gt;&lt;b&gt;Answer:&lt;/b&gt; Traditional cross&#x2011;border payments can involve intermediaries and longer settlement times or require costly investments into new technologies. This solution will leverage existing bank connectivity to domestic real&#x2011;time payment systems, requiring no investment in new technologies.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Question: What is the G20 cross&#x2011;border payments initiative?&lt;br /&gt;Answer:&lt;/b&gt; &lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=4224969240&amp;u=https%3A%2F%2Fwww.fsb.org%2F2025%2F10%2Fg20-roadmap-for-cross-border-payments-consolidated-progress-report-for-2025%2F&amp;a=The+G20+cross%E2%80%91border+payments+initiative&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;The G20 cross&#x2011;border payments initiative&lt;/a&gt;, led by the Financial Stability Board (FSB) in collaboration with global standard&#x2011;setting bodies, was launched in 2020 to address long&#x2011;standing frictions in international payments. The initiative aims to make cross&#x2011;border payments faster, cheaper, more transparent and more inclusive, with global targets focused on improving speed, cost, access and transparency by 2027.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Question: What is&nbsp;CashPro?&lt;br /&gt;Answer:&lt;/b&gt; CashPro is Bank of America&#39;s digital banking platform for corporate and institutional clients. It provides a single point of access for payments, receivables, liquidity, foreign exchange, investments and trade services, and supports multiple connectivity options&mdash;including online, mobile, API and file&#x2011;based channels&mdash;to help clients manage global treasury operations securely and efficiently.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Question: What role does Bank of America play in global payments?&lt;br /&gt;&lt;/b&gt;&lt;b&gt;Answer:&lt;/b&gt; Bank of America is a global leader and innovator in payments. The bank helps companies and institutions process more than USD450 trillion in payments annually and invests approximately USD1 billion each year in payments technology.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Question: What is Swift?&lt;br /&gt;&lt;/b&gt;&lt;b&gt;Answer: &lt;/b&gt;&lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=1282967579&amp;u=https%3A%2F%2Fwww.swift.com%2Fnews-events%2Fpress-releases%2Fswift-add-blockchain-based-ledger-its-infrastructure-stack-groundbreaking-move-accelerate-and-scale-benefits-digital-finance&amp;a=Swift&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;Swift&lt;/a&gt;&nbsp;(Society for Worldwide Interbank Financial Telecommunication) is&nbsp;the world&#39;s leading secure financial messaging service, connecting over 11,500 financial institutions and corporates across 200+ countries and territories. It enables, but does not physically move, funds for international transactions, ensuring secure, standardized communication.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Bank of America&lt;/b&gt;&lt;/p&gt;&lt;p&gt;Bank of America is one of the world&#39;s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving nearly 70 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.&lt;/p&gt;&lt;p&gt;For more Bank of America news, including dividend announcements and other important information, visit the &lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=43363919&amp;u=http%3A%2F%2Fnewsroom.bankofamerica.com%2F&amp;a=Bank+of+America+newsroom&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;Bank of America newsroom&lt;/a&gt; and &lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=452105454&amp;u=http%3A%2F%2Fnewsroom.bankofamerica.com%2Falerts&amp;a=register+for+news+email+alerts&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;register for news email alerts&lt;/a&gt;.&lt;/p&gt;&lt;p&gt;&lt;b&gt;Reporters may contact&lt;br /&gt;&lt;/b&gt;Louise Hennessy, Bank of America&lt;br /&gt;Phone: 1.646.858.6471&lt;br /&gt;&lt;a href=&quot;mailto:louise.hennessy@bofa.com&quot; target=&quot;_blank&quot; rel=&quot;nofollow&quot;&gt;louise.hennessy@bofa.com&lt;/a&gt;&lt;/p&gt;&lt;div&gt;&lt;table border=&quot;0&quot; cellspacing=&quot;0&quot; cellpadding=&quot;1&quot; class=&quot;prnbcc&quot;&gt;&lt;tr&gt;&lt;td class=&quot;prngen2&quot; colspan=&quot;2&quot; rowspan=&quot;1&quot;&gt;&lt;span class=&quot;prnml4&quot;&gt;&lt;span class=&quot;prnews_span&quot;&gt;_______________________________&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;tr&gt;&lt;td class=&quot;prngen2&quot; colspan=&quot;1&quot; rowspan=&quot;1&quot;&gt;&lt;span class=&quot;prnml4&quot;&gt;&lt;span class=&quot;prnews_span&quot;&gt;&lt;sup&gt;1&nbsp;&lt;/sup&gt;&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;td class=&quot;prnpr2 prnpl2 prnvat prntal prnsbtb0 prnrbrb0 prnsbbb0 prnsblb0&quot; colspan=&quot;1&quot; rowspan=&quot;1&quot;&gt;&lt;span class=&quot;prnml4&quot;&gt;&lt;span class=&quot;prnews_span&quot;&gt;FXC Intelligence, &lt;a href=&quot;https://edge.prnewswire.com/c/link/?t=0&amp;l=en&amp;o=4704046-1&amp;h=1535298175&amp;u=https%3A%2F%2Fwww.fxcintel.com%2Fresearch%2Fpress-releases%2Fnew-data-cross-border-payments-market-now-worth-over-194tn-and-is-forecast-to-reach-320tn-by-2032&amp;a=NEW+DATA%3A+cross-border+payments+market+now+worth+over+%24194tn+and+is+forecast+to+reach+%24320tn+by+2032&quot; target=&quot;_blank&quot; class=&quot;prnews_a&quot; rel=&quot;nofollow&quot;&gt;NEW DATA: cross-border payments market now worth over $194tn and is forecast to reach $320tn by 2032&lt;/a&gt;&lt;/span&gt;&lt;/span&gt;&lt;/td&gt;&lt;/tr&gt;&lt;/table&gt;&lt;/div&gt; &lt;div class=&quot;PRN_ImbeddedAssetReference&quot; id=&quot;DivAssetPlaceHolder2&quot;&gt; &lt;p&gt; &lt;img src=&quot;https://mmx.prnewswire.com/media/MS970893/Bank_of_America_Corporation_Logo.jpg?id=OA2659481&quot; title=&quot;(PRNewsfoto/Bank of America Corporation)&quot; alt=&quot;(PRNewsfoto/Bank of America Corporation)&quot; /&gt; &lt;/p&gt; &lt;/div&gt; &lt;p id=&quot;PURL&quot;&gt;&lt;img title=&quot;Cision&quot; width=&quot;12&quot; height=&quot;12&quot; alt=&quot;Cision&quot; src=&quot;https://edge.prnewswire.com/c/img/favicon.png?sn=NY75912&amp;sd=2026-06-04&quot; /&gt; View original content to download multimedia:&lt;a id=&quot;PRNURL&quot; rel=&quot;nofollow&quot; href=&quot;https://www.prnewswire.com/news-releases/bank-of-america-to-launch-cross-border-real-time-payments-expanding-global-payment-choice-302790973.html&quot; target=&quot;_blank&quot;&gt;https://www.prnewswire.com/news-releases/bank-of-america-to-launch-cross-border-real-time-payments-expanding-global-payment-choice-302790973.html&lt;/a&gt;&lt;/p&gt;&lt;p&gt;SOURCE Bank of America Corporation&lt;/p&gt;&lt;/div&gt; &lt;img alt=&quot;&quot; src=&quot;https://rt.prnewswire.com/rt.gif?NewsItemId=NY75912&amp;Transmission_Id=202606040935PR_NEWS_USPR_____NY75912&amp;DateId=20260604&quot; style=&quot;border:0px; width:1px; height:1px;&quot; /&gt; &lt;/DataContent&gt;

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Bank of America to Launch Cross-Border Real-Time Payments, Expanding Global Payment Choice

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