💰 Cross-border payments have become a core component of everyday business transactions. But have you ever wondered how these payments actually happen? 🤔
More than 200 countries and regions, and over 11,000 institutions worldwide use The Society for Worldwide International Financial Telecommunication (SWIFT) to conduct these transactions. 🌐💸
So, what exactly is SWIFT, and how does it work? 🧐
SWIFT is the network that connects financial institutions around the globe, making cross-border payments possible. It's essential for businesses and individuals who need to move money internationally. 🚀
Next time you send or receive money from abroad, remember that SWIFT is the unsung hero making it all happen! 😉👍
Reference(s):
cgtn.com
