Global Payments

What are Cross Border Payments?

Global Payments are also known as Cross Border Payments or International Payments. As the name suggests the payments made between payer and payee who resides in different geographical jurisdictions is generally called as “Global Payment”.

As the jurisdiction is different, the currency in most of the cases will be different from one party to another, also there won’t be a single common clearing system involved between the both parties (excluding some exceptions). In an international transaction there are exchanges involved, delays due to no common agent or no common clearing, cost can also be more.

Generally account numbers of the parties involved, their name and address are needed. Both the parties account holding institutions BIC or National Clearing System Codes & IDs are also needed in a cross-border payment.

SEPA can also be a cross-border payment but its of special kind, check out more on SEPA here. Other type of payments include Domestic Payments, Book Transfers. International Payments generally uses SWIFT network for message transmission.


  1. Kush, who is a customer of State Bank of India, Delhi having an account 2011XXX569 in INR instructs his bank to pay 500$ to Raju, who is a customer of CITI Bank, New York with an account 430XX1245 in USD. P2P
  2. John, a freelancer in Canada having USD account at HSBC, Toronto pays property tax (in pounds) for his property in UK to Govt of UK, Govt has account 8877XX239 GBP with Barclays Bank, Liverpool. P2G
  3. Jasprith having INR account 2299XX7890 in Karnataka Bank, Mangalore pays out Amazon, US in USD for an item order. Amazon US, has seller account 9989XX765 (USD) in HDFC Bank, Texas. P2B
  4. Apple, UK having GBP account 1212XXX78X at Deustche Bank, Landon pays out refunds to Indian buyer in INR, whose account INR 3366XX789 is with Standard Chartered Bank, Goa. B2P
  5. Tata Motors, having INR account(2233XX12343) in HDFC Bank, Bangalore pays out dues in INR to its spare part supplier Toyota Kirloskar, whose account 1100XX3288 (YEN) in HSBC, Tokyo. B2B
  6.  L&T, Constructions Ind Pvt Ltd having INR account 2276XX3XX8 at Canara Bank, Cochi pays out its due taxes(in SLR) on their income generated in their construction work at Sri Lanka. Govt of Sri Lanka has its account 9867XX23XXX (SLR) with Union Bank of Colombo, Kandy. B2G
  7. Govt of US having a USD account 334XX1144 in JP Morgan, DC pays out 15000$ pension to its retired US embassy worker in India, who has an account 9240XXX789 in INR at AXIS Bank, Mumbai. G2P
  8. Govt of Nepal with 6633XXX2XX NPR account in HDFC, Katmandu issues tax refund in NPR to Airtel India, whose INR account, 56XX23XX1X is with CITI Bank India, Kolkata. G2B
  9.  Govt of Russia having RUB account 789XXX2X with UniCredit Bank, Moscow pays out 60000$ to African Government as relief fund. African Govt Account 3456XXX0X ZAR is with BNP Paribas. G2G
Did you know about other types of payments apart from Global Payments? check out here: SEPADomestic, Book Transfers.

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