China is leading the way in adopting ISO 20022 for payments

As Swift continues to work hard with the global payments community to prepare for a mass migration to a data-rich format called ISO 20022, some large economies, especially China, are in the convenient position of having this flexible format already implemented on most of their mission-critical payment systems.

For the past several years, Swift has used all of its diplomatic and gentle persuasion powers to persuade banks and payment market infrastructures to …

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