WHAT IS SWIFT?

SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a messaging network that helps banks manage information on cross-border transactions. It is not a payment provider by definition. Instead, it serves as a platform for sending unique messages that initiate transactions.

SWIFT payment gateway has a strong security infrastructure that enables access and validation for companies with multiple locations. Each transaction comes with a unique code that specifies who is sending the money, what the payment is for, and where the funds are going.

Swift

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Countries:
Worldwide
Currencies:
Multiple

Swift features

Split payments
Full and partial refunds

WHERE TO USE
SWIFT?

SWIFT has become a common solution for banks, corporations, and investment firms. It also plays a huge role in e-commerce due to high transaction volumes. PayAdmit can help merchants with smooth integration, using the local API or hosted payment page.

KEY FEATURES OF
SWIFT

Global presence. Connects 11,000+ banks in 200+ countries across Europe, Asia, and North and South America.

High security. Uses clear and readable code that makes errors quickly detectable.

Standardization. Uses generic messages to promote compatibility across financial systems.

Constant monitoring. Enables businesses to monitor their transaction flow in real time.

Legal compliance. Complies with foreign regulations to avoid extra charges and other penalties.

FREQUENTLY ASKED QUESTIONS

Short answers to the questions we hear most. Can't find yours? Talk to our team.

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01Why does your business need to use SWIFT? 02Can you complete safe payments with SWIFT? 03How many countries and foreign currencies are managed by SWIFT? 04How much time do you need to connect to SWIFT through PayAdmit? 05How does SWIFT handle refunds and chargebacks?

Question 01 of 05

Why does your business need to use SWIFT?

Your business should employ SWIFT to enable safe global transactions while meeting regulatory standards.

Question 02 of 05

Can you complete safe payments with SWIFT?

Yes, the system complies with the law and uses standardized messages to establish safe bank-to-bank payment experiences.

Question 03 of 05

How many countries and foreign currencies are managed by SWIFT?

The network is accessible in 200+ countries and supports 30+ currencies, including EUR, GBP, USD, HUF, CZK, SEK, PLN, JPY, CHF, CAD, and AUD.

Question 04 of 05

How much time do you need to connect to SWIFT through PayAdmit?

The integration usually lasts a few days, based on the technical setup and verification result. Custom APIs may take additional time for configuration.

Question 05 of 05

How does SWIFT handle refunds and chargebacks?

The network does not support classic chargebacks like card systems. The recipient’s bank needs to initiate a refund upon the sender’s request. All transactions are considered to be complete unless both parties agree to reverse the payment.

Still unsure? Ask a payment expert

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