BNP Paribas goes live with SWIFT gpi for Corporates Pay and Trace service

Friday 3 July 2020 12:59 CET | News

BNP Paribas has extended its gpi capabilities with the launch of the g4C Pay and Trace service.

g4C Pay and Trace enables corporates to generate their own UETR (the end-to-end transaction reference used to track the payment across the SWIFT network) and provides them with an enriched payment status report that contains the real-time tracking details of the payment, including fees and throughput times at intermediary banks. This reporting (payment status report), which comes in a standardised XML format, can be incorporated directly into ERP systems or TMS, which is a direct benefit for multi-banked corporates.

The g4C Pay and Trace service helps centralising the traceability information into the corporate’s own system, in a format that is easily integrated. Based on the features proposed by their vendor, corporates have a consolidated view for all their cross-border payments from all their banking partners that have enabled the g4C service. 

BNP Paribas was amongst the pilot banks in the SWIFT g4C working group, and contributed to the definition of the project standards. When the testing phase began, it was done in close collaboration with corporate clients and several vendors, also members  of the gpi workgroups, to make sure their requirements were met. 

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Keywords: BNP Paribas, SWIFT gpi, Pay and Trace, payments , corporates
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech