SWIFT gpi

Global Payments Innovation

SWIFT gpi is a global payments initiative that adds tracking, transparency, and faster processing to cross-border wire transfers. It builds on the SWIFT messaging network to provide end-to-end visibility into payment status and fees.

Participating banks use a unique transaction reference to track payments across correspondent banks. Many gpi payments settle the same day, improving speed compared with traditional correspondent banking.

Related Terms

SWIFT

Society for Worldwide Interbank Financial Telecommunication

SWIFT is a global messaging network that financial institutions use to securely transmit information...

Wire Transfer

A wire transfer is an electronic transfer of funds between banks or financial institutions. Wire tra...

Cross-Border Payment

A cross-border payment is a transfer where the payer and payee are in different countries or currenc...

ISO 20022

ISO 20022 is an international standard for financial messaging that defines a common data model and ...

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