SWIFT: releases pay later APIs


SWIFT: releases pay later APIs to help the adoption of consumer payment model

  • SWIFT is the world’s leading provider of secure financial messaging services
  • Pay later offers customers to use bank loan financing to pay for goods purchased online
  • API standard for pay later is “Transactional Finance Application Programming Interface”
  • Swift aims to provide a neutral to the working group on the API standard
  • The group will work to evolve the standard API specifications and rulebook
  • Swift re-uses business definitions from the established ISO 20022