StanChart, Ant, Swift launch bank-to-wallet payments using ISO 20022

The first transaction was completed between a StanChart account and an e-wallet.

Standard Chartered Bank, Ant International, and Swift have launched live production trials for bank-to-wallet payment solutions using the ISO 20022 financial messaging standards.

The first transactions were completed successfully through Alipay+ between a Standard Chartered Bank customer account and a partner e-wallet of Ant International.

The solution leverages Swift’s network of over 11,500 financial institutions in more than 200 countries and territories.

“We are pleased to be the bank of choice to conceptualise, test and deliver this innovation,” said Michael Spiegel, global head of transaction banking, Standard Chartered.

“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,” Spiegel said in a press release.