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Event File FINTECH Digital Payments Cross-Border Payments Instant Payments

BNY, Financial Institutions Plan Cross-Border RTP Pilot

1 reports · First detected 2026-08-27 · Last active 2026-08-27

Real-time payments allow funds to settle within seconds around the clock, but most RTP systems remain confined to domestic markets. Cross-border transfers still rely heavily on correspondent banks, multiple compliance checks and operating hours across time zones. Extending an RTP network internationally could shorten settlement times and improve interoperability among payment systems, making the effort strategically important for banks modernizing global transaction infrastructure.

BNY and other financial institutions are preparing a pilot expected to begin in 2027 to test the RTP network for cross-border payments. The report did not disclose the full participant list, markets involved, transaction values or a firm launch date. The initiative is expected to examine whether international funds can be cleared more quickly while meeting regulatory, compliance, liquidity and operational requirements across jurisdictions.

All Coverage

1 original reports
PAYMENTSDIVE.COM 2026-08-26
RTP gears up for int’l reach

The Backstory

The history behind this event
Bank of America Plans Real-Time Cross-Border Payments Service2026-06-05 · 1 reports · similarity 0.81

Real-time payment infrastructure is expanding from domestic transfers into cross-border applications, while businesses are placing greater emphasis on faster access to funds and liquidity management. Bank of America is therefore broadening its cross-border payment offerings, aiming to provide real-time settlement through existing banking channels as financial institutions and corporate clients seek round-the-clock clearing.

Bank of America recently announced plans to add a real-time option to its cross-border payment service, allowing corporate and financial-institution clients to initiate transactions and settle funds through Swift or the CashPro app. The bank has not yet disclosed a formal launch date, eligible markets, supported currencies, transaction limits or pricing. Further details remain pending.

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