SWIFT’s GPI initiative is one of the most important developments in international payments for decades. In this WEBchat, Stanley Wachs, SWIFT’s Global Head of Banking Engagement, explains what the GPI Payment Tracker is and how it works. He then describes the importance of the unique tracking reference number and its use in payment tracking and reconciliation.
He discusses the main benefits of the permanent tracker for both banks and corporates, and then reviews some of the main commercialisation decisions that the banks are going to have to take when offering Payment Tracker.
- Key timing points
- 1:08 How Payment Tracker works
- 2:54 Tracking reference no. for GPI transactions
- 3:32 Payment Tracker benefits for banks and corporates
- 5:16 Bank options in offering Payment Tracker
- 8:04 Delivery dates and likely GPI bank numbers in 2017
Payment Tracker will be very useful IF the banks allow corporates direct access to the full informatuion.