Abstract: An international foreign exchange (FX) payment solution is provided that offers straight-through processing of FX rate requests, FX contract initiation, and settlement of funds to and from foreign beneficiaries. The invention is based on a system and method of business using a real-time XML messaging interface, open source access, and industry-standard messaging formats. No special hardware or software is required to implement the invention. The invention enables a customer, e.g. a business or Partner Financial Institution, to connect their core back-end systems and customer-facing Internet platforms directly to an enterprise's real-time FX rate engine and foreign settlement capabilities.