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.
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