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SWIFT Payment Messaging System

The Society for Worldwide Interbank Financial Telecommunication (SWIFT), legally S.W.I.F.T. SC, is a Belgian cooperative society providing services related to the execution of financial transactions and payments between banks worldwide. Its principal function is to serve as the main messaging network through which international payments are initiated. It also sells software and services to financial institutions, mostly for use on its proprietary “SWIFTNet”, and ISO 9362 Business Identifier Codes (BICs), popularly known as “SWIFT codes”.

JIN
Published in
6 min readFeb 28, 2022

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SWIFT is an electronic payment messaging system used by banks and financial institutions worldwide. It is used by over 11,000 financial institutions across 200 countries. It serves as the messaging system that enables worldwide financial…

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