Cross Border Payments
This is why many financial institutions have decided to leverage the global SWIFT and Visa networks for cross-border payments.
SWIFT Connectivity - SWIFT gpi/Universal Confirmations
With more than 660 banks signed-up to the SWIFT gpi service, with the capability to channel payments into over 1,300 country corridors and 150 currencies. Every day, banks send the equivalent of over $300 billion in value and 56% of SWIFT’s 17 million daily messages.
Visa B2B Connect
Visa B2B Connect is a new multilateral payment network designed to deliver predictable and transparent cross-border transactions. Visa B2B Connect provides an avenue to improve your cash position by taking trapped liquidity out of the correspondent network in these challenging times for your domestic market lending.
Whether our customers need help to launch Instant Payments, or want to update and optimise their existing real-time payments infrastructure or take advantage of our kick integration for SWIFT gpi or Visa B2B Connect, Bottomline is here to partner you to the strategy that best fits your financial institution.
It is important to recognize that it isn’t a case or either/or for Instant Payments and Cross Border Payments – each have their own use cases and benefits. Financial Institutions and Banks need to plan a strategy for both to truly remain competitive in today’s fast-evolving payments ecosystem.
Stay competitive in an ever-changing payments landscape
Develop new products
Quick and cost-effective integration into the UK Faster Payments ecosystem
Meet customer demand
Simple interface via the API enables new financial products to be developed quickly and efficiently
Access the latest technology
Access to a range of future overlay services designed to keep you at the cutting edge of the industry
Maximise confidence and stability
99.99% record of availability for its gateway services
Learn more with these helpful resources
Learn more about the alternative quicker and easier way to access Faster Payments.
The need for speed and the provision of Real-Time Payments to customers has become a ‘must-have’ capability for regulated financial businesses. Money transferred through the Faster Payments Scheme (FPS) was in excess of £1.7 trillion in 2018 from over 2 billion transactions. However, compliance and regulatory timescales and restrictions on FPS testing has limited the number of new entrants to the Real-Time Payments ecosystem.
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