GLOBAL PAYMENTS KNOWLEDGEISO 20022 / SWIFT / SEPA / MT / MX
PAYMENTSSIGNAL

The interactive academy for the standards, messages, and rails that move money.

PROGRESS
DRILL · CROSS-BORDER PAYMENT NETWORKS BEYOND CORRESPONDENT BANKING

The words behind Cross-border payment networks beyond correspondent banking

Read the plain-language definition, then name the term it describes.

A closed-loop or API-based network that moves value across borders as an alternative to a chain of correspondent banks.

Step 1 of 2

THE DRILL AS TEXT

  1. A closed-loop or API-based network that moves value across borders as an alternative to a chain of correspondent banks.
    • Cross-border payment network
  2. An API model where a sender first requests a quotation to lock terms such as an FX rate, then submits a payment order against it.
    • Quote-then-pay

This drill is built from Cross-border payment networks beyond correspondent banking — it rearranges material written and sourced on that page rather than asserting anything new, so every claim in it is checkable there.