International Payments
Latest news, explainers and analysis on International Payments. Tracking 3 stories on Arth Vani.
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Latest on International Payments
Swift Extends ISO 20022 Deadline for Banks Amidst Compliance Challenges
Swift has postponed the previously set November deadline for financial institutions to adopt structured postal addresses for ISO 20022 payment messages. This extension comes after numerous banks requested more time to align their systems with the new global standard, which aims to enhance the accuracy and efficiency of cross-border payments.
New LaunchBreakingQatar-to-India Money Transfers Now Possible via UPI at Post Offices
India Post and Qatar Post have launched PosTransfer, a new UPI-based remittance service. This allows individuals in Qatar to send money almost instantly to UPI-linked bank accounts in India through post offices.
BreakingOffshore Banks Pull Back International Credit Cards for Wealthy Indians
Several offshore banks are becoming unwilling to issue or renew international credit cards for wealthy Indian residents. This move is primarily driven by India's 180-day rule concerning the deployment of overseas funds, which also impacts minors with foreign accounts under the Liberalised Remittance Scheme.
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