SWIFT: releases pay later APIs

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swift-open-gpi-to-e-commerce-and-dlt-platforms

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