BNY Launches Pay-to-Wallet, Enabling Banks to Send Cross-Border Payments Directly to Retail Digital Wallets
BNY says the capability leverages its existing global payment network, so banks do not need to integrate with each wallet provider individually; banks in Asia-Pacific are among the first users.
Bank of New York Mellon (BNY) announced on September 28 the launch of its Pay-to-Wallet capability, allowing banks to send cross-border payments directly to retail digital wallets. The solution leverages BNY's existing global payment network and covers approved markets and corridors, so banks do not need to build integration layers with each wallet provider on their own.
Fabian Khoshbakht, BNY's head of global payments and trade for Asia-Pacific, said digital wallets are becoming central to cross-border payments in wallet-dominated markets such as Asia-Pacific, and banks need capabilities that can be deployed quickly to connect to wallet payment flows. According to data cited in its press release, retail digital wallets in Asia-Pacific already account for about half of all offline acquiring transactions and are expected to exceed 60% next year.
Banks in Asia-Pacific are among the first users of the capability. Cynthia Hsu, BNY's head of wholesale payments, said Pay-to-Wallet is expected to help modernize cross-border payments and expand customer choice.
Source: https://www.pymnts.com/news/cross-border-payments/2026/bny-aims-to-bring-cross-border-bank-payments-to-digital-wallets/
Provenance & status
- Byline
- OceanAlt Editorial
- First published
- 2026-09-29
- Last updated
- 2026-09-29
- Content type
- Newsflash
- Source material
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