Iran's banks have been able to dodge a ban on carrying out global transactions through the Swift electronic-payment system, Swift officials said.

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Last year, U.S. lawmakers succeeded in pressuring Belgium-based SWIFT electronic payment system to block Iranian transactions.

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Citi and SWIFT have continued their evolution of the payment systems.

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We designed the architecture to be flexible and it turns out to be a perfect means to route any mobile payment using the new ISO 20022 standard promoted by SWIFT and their SWIFTRemit program.

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Traditionally a corporation could put just one payment in a message, and it had to pay SWIFT for each message.

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And last Monday, Ixaris announced new payment mini-platforms for the Visa, Mastercard and Swift networks that allows the companies to develop their own global payments applications.

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