SWIFT announced its availability of its new cross-border payments Tracker which allows international payments to be traced. This Tracker is the foundation of SWIFT gpi which is revolutionizing the payment service by combining real-time payments tracking with the speed and certainty of same-day settlement for international payments.
David Bannister, Principal Analyst at Ovum said: “Uptake of SWIFT’S gpi service has been encouraging and the addition of the Tracker capability can only help momentum and accelerate adoption of the service in international payments. The most common complaint from corporates is the lack of visibility on their payments’ status. With the Tracker capability, SWIFT gpi tackles that issue and will be a useful tool to help corporate treasurers to execute their core responsibilities.”
SWIFT gpi allows companies that are engaged in international trade to receive payments for services or delivery in a more timely and efficient fashion, enabling a faster supply chain process. Some of the recent joiners to SWIFT gpi are: Commercial Bank of Kuwait, National Commercial Bank (Saudi Arabia), Tadhamon International Islamic Bank, Mashreq Bank (UAE), and more.
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