Real-Time and Cross-Border Payments
The alternative, quicker and easier way to access Faster Payments to meet your customer demand for real-time payments with our 'Express' service.
The Tracker operates as a SWIFT-managed application. SWIFT extracts selected information from in-scope MT Payment messages and sends the data to the Tracker. gpi confirmations may be provided to the Tracker directly via MTs, API calls, and the User Interface. The Tracker API service uses the gpi Rest APIs to send and receive status updates to and from the Tracker directly. The Bottomline API Gateway exposes the SWIFT APIs for gpi in an easy to consume platform - The Bottomline API Gateway
We are the first aggregator globally to offer access to the SWIFT Tracker via APIs. SWIFT APIs for gpi via the Bottomline API Gateway enables easy access to the SWIFT Payments Tracker database and allows you to leverage APIs to see end-to-end data, via a single gateway alongside the other APIs that you use with Bottomline. Using the Payment Tracker can reduce investigative efforts associated with payments by as much as 50% through improved data visibility – saving on costs and customer service resources. This API enabled integrated data precludes the need to worry about inclusion of MTn99 status updates, cutting down on transaction counts. Customers can leverage Bottomline’s API enabled Payment Services or connect directly to the SWIFT Tracker Database.
Bottomline have implemented the required Webservers and Security Components from SWIFT in a SWIFT API Services Hub, to allow its bureau clients to make API calls to the Tracker via the Bottomline API Gateway. We can offer implementation and ongoing support package for clients to start using the APIs with no requirement to install the webservers. The service includes:
Set up and ordering support.
Testing and go live.
Ongoing maintenance and availability of the gpi Rest APIs via the Bottomline API Gateway.
The scope of what the API can be used for will vary depending on whether you are either a full gpi member or using the API to provide confirmation status under Universal Confirmation. The APIs are valid for both.
SWIFT gpi & Universal Confirmations via Bottomline’s API Gateway is the first service provider to enable all FIs to connect via an Aggregator to the SWIFT Tracker using innovative API technology and the Bottomline API Gateway. No matter the size of institution, the volume/value of your cross-border portfolio or the state of your legacy infrastructure, the opportunity is there for you to take your share of the $10T global cross-border payments space.
Universal Confirmations: by the end of 2020, every single SWIFT customer payment (MT 103 on FIN) will require a confirmation that the funds have been credited to the end beneficiary account.
You can’t afford to NOT be a part of the SWIFT gpi network: More than 760 banks have signed-up to the SWIFT gpi service, with the capability to channel payments into over 2242 country corridors and 150+ currencies. Every day, banks send the equivalent of over $327 billion in value and 70+ of SWIFT’s 17 million daily messages.
You have to be in it, to win it: There is a predicted $10T opportunity in the global high value cross-border payments space according to a survey commissioned by Visa, with almost six-in-ten respondents (59%) expecting overall revenues from cross-border payments to increase in the next five years as a result of faster payments. Nearly a quarter of respondents (24%) expect to see faster payments drive up revenues by as much as 25%.
Your customers are demanding it: Corporate customers have threatened to switch banks if they don’t get it e.g. 100% of corporate customers that BNP Paribas onboards all ask for details on what SWIFT gpi offerings are available.Download Datasheet
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