CIPS and Swift MoU could yield better supplier relationships
The deal between the two payments systems could improve corporates' ability to manage renminbi, their relationships with suppliers, and lower the cost of renminbi transactions, market experts claim.
On March 25, Swift signed a memorandum of understanding (MoU) with the Cross-Border Interbank Payment System (Cips). The two players plan to collaborate with the aim of developing Cips’ payments system to better connect China internationally.
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