UniCredit, one of the largest financial services providers in Europe, and JPMorgan, the US-based banking giant, recently announced that both organizations have collaborated on SWIFT Go payment transactions between Europe and the US.
According to an official announcement shared by UniCredit, SWIFT Go allows businesses and consumers to send payments in a secure and transparent environment. The newly formed partnership leverages JPMorgan’s proprietary PayDirect solution.
In the press release, UniCredit mentioned that through the new collaboration, payments will be credited on the same day. Additionally, payments will be free of charge for the beneficiary. The latest partnership represents the first step in SWIFT Go’s roll-out in the US.
“UniCredit has always been a staunch supporter of innovations within the payments sector that deliver excellent outcomes for end-customers and our cooperation with J.P. Morgan represents a clear step in this direction. As ever, we strive to support our clients with the best possible solutions and expect this news to be positively received by our customers that carry out business operations in the United States,” Raphael Barisaac, UniCredit’s Global Head of Cash Management, commented on the latest partnership.
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Since the start of 2021, JPMorgan has formed several partnerships with global financial institutions to make global payments secure, transparent and cost-effective. Earlier this year, the banking giant partnered with DBS and Temasek for the development of a new blockchain-based platform for cross-border…