To bypass expensive global correspondent banking lines, regional groups of central banks connect their domestic retail payment platforms directly, establishing Bilateral Payment Corridors (such as the linkage between Singapore’s PayNow and India’s UPI networks).

Bilateral corridors connect national real-time payment switches via secure APIs, enabling direct currency exchanges:

User enters phone number -> System checks foreign switch registry -> Local currency debited -> Foreign currency credited instantly

This direct routing allows consumers to execute instant, low-cost cross-border transfers using familiar mobile interfaces, bypassing international banking networks.