SWIFT has announced a global initiative to enhance the efficiency of cross-border retail payments, aiming to match the speed and transparency of domestic transactions. The initiative involves collaboration with over 30 banks across 17 countries, introducing new rules for faster transactions, transparent fees, and full-value delivery. It also provides end-to-end visibility and instant settlement where local infrastructure permits. This initiative supports the G20’s 2027 roadmap for improving cross-border payments and targets 'last mile' issues responsible for 80% of transaction delays. By addressing these challenges, SWIFT aims to significantly improve the speed and reliability of international retail payments.