SWIFT, the provider of secure financial messaging services unveiled a proof-of-concept (PoC) to trial gpi Link, a new gateway to interconnect e-commerce and trading platforms with SWIFT gpi.
The company claims that the new “gpi Link” gateway will enable trade platforms to offer fast, secure and transparent settlement of payments bygpi banks and it will enable gpi payment functionalities to be embedded directly into e-commerce and other trading platforms.
This is the first gpi Linkproof-of-concept to launch with blockchain software firm - R3
Source: Swift
As per company statement now gpi Link will seamlessly connect gpi members to multiple trade platforms hence enabling gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation.
The gateway aims to enable the continuous auditing and control of transaction flows and the following movement of goods by those trade platforms. To establish global integration and interoperability it will support application programming interfaces (APIs), in addition to SWIFT and ISO standards.
"The first stage of the PoC will work on R3’s leading blockchain platform, Corda, and aims to bring the benefits of gpi payments’ speed, ubiquity and certainty to distributed ledger technology (DLT)-enabled trade. The PoC addresses the need for DLT-based commerce to be supported by global, fast, secure and transparent settlement using fiat currencies by enabling ‘off-ledger’ payment settlement based on gpi." wrote the company.
To learn more, you can visit the official press release here.
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