By the end of 2015 SWIFT plans to decrease prices for message exchange services by 57%. Initially the Society for Worldwide Interbank Financial Telecommunications planned to decrease commission by 50%, Payspacemagazine reports.
«This shows SWIFT engagement in banking sector», - said the Chairman of the SWIFT. «The society fulfilled its obligations on price reduction at the end of 2014 and extended the program. The company managed to decrease commission for transferring messages even more than anticipated. We are looking forward to additional price reduction, which will happen within next five years».
The development strategy for next five years SWIFT2020 includes investments in security, reliability and extension of the message exchange platform, capital investment in the improvement of existing services and creation of innovation decisions.
The additional part of its plan is the new long-term program of structural price reduction, which starts in January 2016. This fourth SWIFT tariff plan, which stipulates 30-45% price reduction, will be implemented by the end of December of 2020.
