Swift developing new retail payment rules to improve cost clarity

Banks from 17 countries will work with Swift to set the retail rules.

Swift is developing a new scheme framework alongside 30 banks to improve transparency and visibility of payments.

The rules will ensure upfront transparency on payment costs, guaranteed full value delivery, end-to-end visibility, and a commitment to instant settlement where available, Swift said in a press release on 25 September 2025.

The voluntary coalition comprises 30 early adopter banks. They aim to provide retail customers with peace of mind and predictability when sending money internationally.

Specifically, banks from 17 countries will work with Swift to set the retail rules in stages, including defining mechanisms to ensure adherence.