What does the term 'SWIFT payment' refer to?

The term 'SWIFT payment' specifically refers to international payment instructions that utilize SWIFT messaging to facilitate secure and reliable communication between banks and financial institutions around the world. SWIFT, which stands for the Society for Worldwide Interbank Financial Telecommunication, provides a standardized framework for sending payment instructions and other financial messages across borders.

When a payment is categorized as a SWIFT payment, it typically means that the transaction involves multiple parties from different countries and requires a method to exchange relevant information securely. Using SWIFT messaging allows for the efficient processing of these international payments, ensuring that all necessary details, such as instructions, regulatory compliance, and transaction statuses, are communicated accurately.

In contrast, other options outlined are not reflective of the term 'SWIFT payment.' Payments made through credit cards do not specifically involve the SWIFT messaging system. Payments that are only sent in euros do not incorporate the broader range of currencies that SWIFT supports. Additionally, domestic payments processed via local banks typically do not require SWIFT messaging as they are handled within the country’s banking systems, thus lacking the international dimension that characterizes SWIFT payments.