SWIFT will implement a fixed-fee pricing option for high-volume customers, announced at Sibos.
Effective 1 January 2008, high-volume customers can opt for a fixed-fee pricing scheme for messaging. In addition, a 15 percent rebate and a 5 percent reduction will apply to all SWIFT customers for FIN messaging. This comes on top of the 10 percent price reduction granted in 2007. These pricing actions reflect SWIFT’s commitment to help its customers maximise their investment in SWIFT by lowering the total cost of usage.
Customers can now opt for a three-year, fixed-fee contract. The fixed fee will be equivalent to 95 percent of the messaging charges paid by the customer for the previous 12 months and will include an entitlement to increase messaging usage by 50 percent in value at no additional cost. High-volume customers currently account for nearly 80 percent of all messaging traffic exchanged over SWIFT. This new model provides significant cost savings, and meets customer requests for cost predictability.
All customers will benefit from an overall price reduction of 5 percent for FIN messages. This reduction comes on top of a 6 percent price reduction in January and a 4 percent reduction in July 2007, representing a total reduction of 15 percent this year.
In addition to the above price reductions, the SWIFT Board has approved a rebate. This 15% rebate will amount to MEUR 55 and applies to all messaging services. The rebate will be credited in January 2008.
“We are making fundamental changes to the way we charge for our services to reflect the diversity of our customer base,” says Francis Vanbever, CFO, SWIFT. “Lower volume users will soon benefit from a new service model that will significantly reduce the cost of connecting to SWIFT, while large volume users can benefit from the fixed fee pricing scheme to make even more use of SWIFT at no additional cost.”