The Evolution of Payment Standards: From MT to MX and Beyond

ISO 20022 is a global messaging standard for exchanging financial data—it can be compared to a common language that banks, payment providers, and corporates can all speak clearly and efficiently.

While many legacy formats like MT messages were more akin to sending a postcard with limited space, ISO 20022 is more like sending an email—with rich, structured, and comprehensive data.

This November marks a key SWIFT deadline for cross-border payments to migrate to the new message formatting, which will impact most parties in the payments chain, including banks, financial institutions, payment services providers, corporates, enterprise-level organizations, CFOs, treasurers, and many more.

Listen to our conversation to learn more about the industry's migration to the ISO 20022 messaging upgrade—it’s a smarter, faster, and safer way to do business globally, and Corpay is on hand to make the transition smooth and accurate.

^{The opinions expressed on FX in Focus are those of the speakers only, and do not necessarily reflect the views of Corpay, Inc.}